22nd Feb 2016 09:56
LONDON (Alliance News) - Medical imaging tools developer Feedback PLC Monday said it expects to report a reduced operating loss for its full year, as it posted a narrowed loss for its first half on lower operating costs.
For the half year to end-November the company reported a pretax loss of GBP155,000, narrowed from a pretax loss of GBP229,000 a year before, primarily as a result of lower operating expenses as revenue was largely flat at GBP225,000.
The company said it expects to see revenue in its second half broadly similar to the first half, however, its operating expenses have been "significantly reduced", which will lead to a reduced operating loss.
In November, the company signed a memorandum of understanding with Alliance Medical Group with the aim of integrating its TexRAD texture analysis software into Alliance's PET-CT lung cancer imaging service. A pilot implementation is currently underway, and the next step will be integrating Alliance's internal systems and evaluating the product with multiple sites across Alliance's network, Feedback said.
Additionally, the two companies plan to undertake a multi-centre imaging research study to assess the use of TexRAD in lung cancer.
"The board believes the future for Feedback is hugely promising and we look forward to working closely with Alliance and developing our other collaborative ventures," the company said in a statement.
Shares in Feedback were up 3.3% at 1.55 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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