Shares in LungLife AI Inc (AIM:LLAI) rose 3% as the company reported progress toward commercialising its LungLB diagnostic test for lung cancer.
The Early Access Program (EAP), launched earlier this year, has received positive feedback from doctors, with orders placed and ongoing evaluations of how the test integrates into clinical workflows.
LungLB has been shown to accelerate patient follow-up on CT scans and provide reassurance during potential invasive procedures, helping facilitate early lung cancer detection.
LungLife is working to secure Medicare coverage through the MolDx program, aiming to submit its application by year-end.
Peer-reviewed data confirming LungLB's analytical performance was recently published in BMC Pulmonary Medicine, and findings will be presented at a leading molecular pathology conference in November 2024.
The company continues discussions with potential strategic partners and is managing its cash balance of $1.77 million to extend operations through Q2 2025 while exploring additional cost-saving measures.
In morning trading, the stock was up 0.27p at 8.52p.