Post FDA Authorization, Renalytix Reviewed Its Operating Cost Basis With A View To Reducing The Quarterly Cash Burn Rate Which Should Become Apparent In The Remainder Of FY24
Portfolio Pulse from Benzinga Newsdesk
Renalytix plans to reduce its quarterly cash burn rate following FDA authorization. This comes on top of a recent $11 million reduction in operating expenses. The company is also considering international licensing opportunities and strategic partnerships as sources of non-dilutive capital and expanded revenue.
September 28, 2023 | 10:10 am
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Renalytix's plans to reduce cash burn rate and explore new revenue sources could potentially improve its financial stability and growth prospects.
Renalytix's plans to reduce its cash burn rate and explore new revenue sources, such as international licensing and strategic partnerships, could potentially improve its financial stability and growth prospects. This could make the company more attractive to investors, potentially leading to a rise in its stock price.
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