Renalytix shares were down 1% to 2.5p in late morning trading on Friday after the company reported the completion of its $30 million financing package.
The firm announced that the net proceeds of its fundraise would be put towards general working capital purposes and to support company growth.
The financing was comprised of an $8.8 million equity subscription and a subscription for convertible bonds with an aggregate principal amount of $21.2 million, which were announced on 31 March this year.
The kidney disease diagnostics group announced that the equity fundraise consisted of subscriptions for 2,221,794 Ordinary Shares and 103,447 American Depositary Shares (ADS) for a price of approximately 276p per ordinary share and 725c per ADS.
The reported gross proceeds amounted to a total of $26.8 million for the company.