21st Oct 2026 20:17
(Alliance News) - CelLBxHealth PLC on Wednesday said it expects revenue to increase sharply in 2027 although the realignment of the business has had some impact on the timing of revenue recognition and near-term commercial delivery.
The Guildford, England-based biotechnology company said it secured GBP300,000 of new business in the quarter ended September 30, three times the GBP100,000 secured the year prior. Revenue booked in the quarter was GBP200,000.
For the first nine months of 2026, CelLBxHealth said its cash operating loss narrowed to GBP4.0 million from GBP9.7 million a year ago.
Following "substantial" cost reductions and a period of "strategic and operational realignment" during the year, the firm said the monthly average cash burn in the quarter was GBP400,000. Receipt of an anticipated R&D tax credit means the company will have a cash runway through to the first quarter of next year.
CelLBxHealth said prospects for commercial progress and revenue growth remain strong, although the realignment of the business has had some impact on the timing of revenue recognition and near-term commercial delivery.
It now expects to deliver 2026 revenue of around GBP1.8 million, up 29% year-on-year from GBP1.4 million.
Looking ahead to 2027, CelLBxHealth anticipates revenue between GBP3.0 million to GBP4.0 million, reflecting expectations of increased commercial momentum, an expanding pipeline of opportunities and the benefits of the operational improvements implemented during 2026.
CelLBxHealth said it is also progressing the process to appoint a new Chief Executive Officer.
Also on Wednesday, the firm said it has entered into a master services agreement, together with a statement of work, with a Swiss biotech company.
Executive Chair Jan Groen said: "We are pleased to support the programme. This study brings together our CTC enrichment and analysis capabilities with a targeted radio-pharmaceutical development programme. We aim to generate data that may help the Swiss biotech company explore the role of CTCs in its future research and clinical applications."
CelLBxHealth closed down 10% at 0.70 pence each in London on Wednesday.
By Jeremy Cutler, Alliance News reporter
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