CelLBxHealth plc (LSE:CLBX) has reported a 60% reduction in its cash operating loss for the first nine months of 2026 to £4.0 million, alongside an increase in third-quarter new business, as the oncology diagnostics company continues its operational restructuring and expands pharmaceutical partnerships.
New business secured during the third quarter reached £0.3 million, approximately three times the level recorded in the corresponding period of 2025.
The company now expects full-year 2026 revenue of approximately £1.8 million, representing a 29% increase compared with the previous year.
CelLBxHealth said its strategic and operational realignment has resulted in delays to the recognition of some revenue, affecting the timing of reported income during the current financial year.
Cost reduction measures have lowered average monthly cash expenditure to approximately £0.4 million. The company plans targeted reinvestment during the fourth quarter to support its commercial and development activities.
Management expects an R&D tax credit of approximately £0.8 million, which, together with its existing financial resources and current expenditure plans, is anticipated to extend the company’s cash runway into the first quarter of 2027.
On commercial development, CelLBxHealth reported new Master Services Agreements and Statements of Work with pharmaceutical partners in Switzerland and the United States.
The agreements include activities associated with radioligand therapies, expanding the company’s involvement in a treatment area that uses radioactive compounds to target cancer cells.
CelLBxHealth also highlighted publications from clinical studies involving its circulating tumour cell (CTC) technology, which the company said provide additional supporting evidence for its applications in oncology research and drug development.
The company’s Parsortix platform is designed to isolate circulating tumour cells from blood samples for subsequent analysis, including imaging, proteomic profiling and genomic testing.
CelLBxHealth generates revenue through product sales, laboratory services and laboratory-developed tests. Its operations include Good Clinical Laboratory Practice (GCLP)-compliant facilities in the UK, supporting research and development activities for pharmaceutical companies and other partners.
The group is pursuing additional commercial relationships with contract research organisations, clinical laboratories and pharmaceutical developers to expand the use of its technology in precision oncology.
Looking ahead, CelLBxHealth has issued revenue guidance of between £3.0 million and £4.0 million for 2027, compared with its current expectation of approximately £1.8 million for 2026.
The forecast reflects management’s expectations for increased commercial activity following the operational changes and the addition of pharmaceutical development agreements.
Separately, the company has initiated a search for a new chief executive officer to oversee the next stage of its business development.
CelLBxHealth’s immediate priorities include progressing its pharmaceutical collaborations, expanding applications for its Parsortix technology and managing expenditure as it works towards its 2027 revenue targets.
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