Renalytix shares are trading higher after the company announced that, on Feb. 8, the Centers for Medicare and Medicaid Services published a draft Local Coverage Determination for KidneyIntelX and kidneyintelX.dkd testing.
Portfolio Pulse from Benzinga Newsdesk
Renalytix shares surged following the announcement that the Centers for Medicare and Medicaid Services published a draft Local Coverage Determination for KidneyIntelX and kidneyintelX.dkd testing on Feb. 8.
February 12, 2024 | 8:08 pm
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POSITIVE IMPACT
Renalytix's stock price is expected to experience a positive short-term impact following the announcement of a draft Local Coverage Determination by the Centers for Medicare and Medicaid Services for its KidneyIntelX tests.
The draft Local Coverage Determination by the Centers for Medicare and Medicaid Services is a significant regulatory milestone for Renalytix, indicating potential increased adoption and reimbursement for its KidneyIntelX tests. This development is likely to be viewed positively by investors, leading to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100