LungLife AI is a diagnostic company focused on the early detection of lung cancer from a simple blood draw enhanced by artificial intelligencce.
This should be a chat thread. You can buy just now under 35p placing… cash runway from this placing extends into mid 2025.
Stated proceeds of raise to work towards commercial deals.
Clinical validated in January for the early lung cancer detection test.
“LungLife AI is a developer of clinical diagnostic solutions designed to make a significant impact in the early detection of lung cancer, the deadliest cancer globally. Using a minimally invasive blood draw, our LungLB® test is designed to deliver additional information to clinicians who are evaluating indeterminate lung nodules.”
If there’s more news on this now fully funded it should run imo
Cash runway until mid 25…
Strengthens balance sheet ahead of working further towards commercial deals.
“The net proceeds of the Fundraising, along with the Company’s existing cash resources, are expected to be utilised to establish the commercial proof of concept of the Company’s LungLB® test”
You can still buy less than the fund raise…
And the chart looks ripe for a turnaround into new ISA year
Investor Meet recording .
Quite an impressive Road map for commercialisation in the next 12 months …worth keeping an eye on…
Good article here too…
“its flagship LungLB blood test has been independently proven to significantly improve the detection of difficult to diagnose small indeterminate lung nodules (ie <15mm in size). It has delivered an 81% PPV, alongside outperforming the current standard-of-care (re PET scans and Mayo Nodule Calculator tools).
The key question now facing investors is how much is LLAI’s unique diagnostics platform worth?
At the last count in Jan’24 (pre fundraise), house broker Investec had a target price of 221p/share. Sure this may have slipped slightly after March’s $2.28m top up fundraise at 35p (re dilution).
Yet equally, compared to today’s valuation, there still appears to be plenty of upside potential, with Investec forecasting revenues of $4.3m and $8.0m respectively for this year and next.”
#LLAI news today
LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for the early detection of lung cancer, announces it has been invited to present at the National Cancer Institute’s (“NCI”) Early Detection Research Network (“EDRN”) meeting in Tempe, Arizona on 17 April 2024.
The EDRN is a division of the United States NCI, the federal government’s principal agency for cancer research and training, which works collaboratively amongst its members to bring new diagnostic biomarkers to clinical use.