CelLBxHealth (AIM:CLBX), the AIM-listed circulating tumour cell (CTC) intelligence company, reported first-half revenue of £0.6 million, down from £0.8 million a year earlier, but said second-quarter revenue of £0.4 million doubled the first quarter's £0.2 million.
The operating loss narrowed sharply to £2.7 million for the six months to 30 June, from £9.7 million in the same period last year, as a restructuring programme cut the annualised operating cost base to approximately £6.3 million.
Gross margin improved to 61% from 59%, though gross profit slipped to £0.4 million from £0.5 million.
Cash and cash equivalents stood at £2.9 million at period end, down from £5.3 million a year earlier, with monthly cash burn now running between £0.3 million and £0.4 million, giving the company runway into the second quarter of 2027.
"The strong growth in Q2 revenue is an early sign of the successful implementation of our revised commercial strategy", said Executive Chairman Jan Groen.
The period saw a Master Services Agreement signed with AstraZeneca, clinical collaborations with AdventHealth and The Royal Marsden NHS Foundation Trust, and continued partnerships with QIAGEN, Roche Diagnostics, Illumina and Myriad.
Chief Executive Peter Collins departed on 6 July, with Groen continuing as Executive Chairman while the board recruits a successor.
The company reiterated full-year revenue guidance of at least £2.1 million, representing growth of at least 50% over 2025, citing a commercial pipeline of £3.5 million, and expects to reach EBITDA breakeven in 2028.
