22nd Aug 2024 14:29
LungLife AI Inc - California-based developer of clinical diagnostic solutions for lung cancer - Pretax loss narrows 34% to USD1.9 million in the first half of 2024, from USD2.8 million. Administrative costs decrease 36% to USD1.7 million from USD2.7 million. Revenue remains negligible. Looking ahead, Chief Executive Officer Paul Pagano says: "We are delighted with the increasing recognition for LungLB as evidenced by the positive clinician feedback together with the first orders being received under our early access programme. Whilst we progress towards commercialisation, we are also actively seeking opportunities for a suitable strategic partner who aligns with our vision and has the capability to accelerate the adoption of LungLB".
Chair Roy Davis says: "Following the successful validation of our LungLB test at the start of the year, we are now actively transitioning into the commercial phase. This is an exciting time for the company as we strive to transform the early detection of lung cancer and continue to deliver on our strategy."
Current stock price: 13.45 pence each, up 1.5% Thursday afternoon in London
12-month change: down 89%
By Tom Budszus, Alliance News slot editor
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