Benzinga | Apr 22, 2021 07:58AM EDT

Renalytix AI Stock Jumps After 10-Year US Government Contract For Kidney Disease Testing Services

* Renalytix AI plc (NASDAQ: RNLX) stock is rising on the heels of a 10-year contract from the United States Government to provide KidneyIntelX early-stage kidney disease bioprognostic testing services.

* The contract, offered through the General Services Administration, covers laboratory testing services that can be provided through more than 140 U.S. government departments, agencies.

* The contract is effective as of April 15 and has a five-year term with a five-year extension option.

* Under the contract, KidneyIntelX pricing is set at $950 per reportable result.

* Individual physicians operating within government-sponsored healthcare programs can now order KidneyIntelX testing for their patients with diabetic kidney disease.

* Price Action: RNLX shares are up 21.7% at $30.7 in the premarket session on the last check Thursday.