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Renalytix plc

For the period ended Jun 30, 2024. Filed Sep 30, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Sep 30, 2024

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended June 30,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO

Commission File Number 001-39387

Renalytix plc

(Exact name of Registrant as specified in its Charter)

England and WalesNot Applicable
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
2 Leman StreetLondon, United KingdomE1W 9US
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: +4420 3139 2910

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
American Depositary Shares, each representing two ordinary shares, nominal value £0.0025 per shareRNLXThe Nasdaq Stock Market, LLC
Ordinary shares, nominal value £0.0025 per share*The Nasdaq Stock Market, LLC*

*Not for trading, but only in connection with the registration of the American Depositary Shares.

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of December 29, 2023, the aggregate market value of the Registrant’s ordinary shares, nominal value £0.0025 per share, held by non-affiliates of the Registrant, based on the closing price of the American Depositary Shares on the Nasdaq Global Market on December 29, 2023, was$14,024,875. The Registrant has no non-voting common equity.

As of September 16, 2024, there were 165,925,513 ordinary shares outstanding, which if all were held in ADS form would be represented by 82,912,756 American Depositary Shares, each representing two ordinary shares.

ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

Page
Special Note Regarding Forward-Looking Statementsii
PART I
Item 1.Business1
Item 1A.Risk Factors26
Item 1B.Unresolved Staff Comments72
Item 1C.Cybersecurity72
Item 2.Properties72
Item 3.Legal Proceedings72
Item 4.Mine Safety Disclosures72
PART II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities73
Item 6.[Reserved]73
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations74
Item 7A.Quantitative and Qualitative Disclosures About Market Risk87
Item 8.Financial Statements and Supplementary Data87
Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure87
Item 9A.Controls and Procedures87
Item 9B.Other Information89
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections89
PART III
Item 10.Directors, Executive Officers and Corporate Governance90
Item 11.Executive Compensation92
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters101
Item 13.Certain Relationships and Related Transactions, and Director Independence102
Item 14.Principal Accounting Fees and Services105
PART IV
Item 15.Exhibits, Financial Statement Schedules106

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.