Half-year Report

August 8, 2023

LungLife AI, Inc.
(the “Company” or “LungLife”) 

Half-year Report

 LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for the early detection of lung cancer announces its unaudited half-year report for the six months ended 30 June 2023.

Operational Highlights:

  • Completed enrolment of the Company’s 425-participant pivotal clinical validation study in May, in line with expectations.
  • Health economics study highlighting the cost-effectiveness of LungLB® when added to the clinical care pathway for indeterminate lung nodule management peer-reviewed and published in the Journal of Medical Economics.
  • Peer-reviewed publication of LungLB® study in the Nature-Springer journal BMC Pulmonary Medicine demonstrating high test performance, successfully detecting lung cancer in its earliest stages when it is most curable.

Financial Highlights:

  • Cash as of 30 June 2023 of $5.36m (30 June 2022: $10.63m, 31 December 2022: $8.01m)
  • Cash outflow from operating activities $2.70m (six months to 30 June 2022: $3.26m)
  • Loss before tax of $2.81m (six months to 30 June 2022: $4.47m) and EBITDA loss of $2.78m (six months to 30 June 2022: $4.31m)

Commenting Paul Pagano, Chief Executive Officer of LungLife, said: “This has been an important six months for the Company as we continue to meet our milestones. We have concluded participation in our clinical validation study and published two important reports that will assist with the commercialisation of LungLB®. Our present focus is the analysis of the results of our clinical validation study which we continue to expect to report on by the end of September.”

Click HERE for the full report.

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