Renalytix (RNLX) said Friday that Medicare issued a final Local Coverage Determination for its kidneyintelX.dkd test a day earlier.

As of Aug. 1, the test will be covered by Medicare for patients with diagnosed type 2 diabetes and stage 1-3b chronic kidney disease as "reasonable and necessary," the company said.

The Medicare coverage of KidneyintelX.dkd, which will cost $950 per test, will "prompt additional major coverage decisions" and support expedited testing adoption, Renalytix CEO James McCullough said.

Renalytix shares were up more than 10% in recent Friday premarket activity.

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