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LungLife AI Inc - Thousand Oaks, California-based developer of diagnostic solutions for lung cancer - Pretax loss widens to £7.2 million in 2021 from £4.1 million in 2020. The loss includes the costs of its initial public offering in London back in July of $1.1 million. Revenue declines 4.7% to $195,566 from $205,180.
Looking forward, Chief Executive Paul Pagano says: ‘Throughout the rest of the year we will continue with our validation study which we expect to complete in the first quarter of 2023, as well as work towards regulatory authorisation and commercial reimbursement, which we made our first step towards post-period end when we were granted a CPT PLA code.’
CPT proprietary laboratory analyses codes are granted by the American Medical Association and used by manufacturers to identify their tests. A code was granted for the LungLB test back in January.
Current stock price: 182.00 pence
12-month change: down 11%
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