CelLBxHealth PLC (AIM:CLBX, OTCQB:ANPCF, FRA:DWV) said it is entering 2026 with a sharpened strategy and a focus on turning a £12.6 million sales pipeline into revenues, adding that its balance sheet remained robust.
In an outlook statement accompanying preliminary results, the Guildford-based cancer diagnostics group said its qualified 2026/27 pipeline stood at about £12.6 million, or £4.5 million on a risk-weighted basis.
Management said this underpinned its revenue growth targets as the business pivots towards commercial execution following a fundraising late last year.
The update came as the company revealed that full-year revenues for 2025 are now expected to be about £1.4 million, below the £1.6 million previously anticipated.
Fourth-quarter revenues are expected to be roughly £400,000. The shortfall was largely timing-related, with sales contracts worth around £0.2 million pushed into the first quarter of 2026.
Biopharma revenues for the year were £300,000, while product revenues totalled £1.1 million.
Despite the slower-than-planned sales, CelLBxHealth ended the year with £7.3 million in cash. The company said this left it with a “strong balance sheet” to support its revised strategy.
Alongside the financial update, management detailed a series of cost-cutting measures designed to reduce its cash burn.
The company has consolidated its Guildford operations into a single site, reduced headcount and carried out other restructuring activities. Taken together, these steps are expected to deliver annualised savings of about £5.9 million.
As part of the drive to simplify its corporate structure, CelLBxHealth has also voluntarily delisted from the US-based OTCQX Market, citing low trading volumes and administrative costs.
Peter Collins, chief executive, said management had spent the final quarter of 2025 focused on restructuring, funding and refining the business plan.
“With management focused on refining the company’s business strategy, securing funding and implementing the restructure during the fourth quarter of 2025, some sales contracts, with an aggregate value of approximately £0.2 million, were deferred into the first quarter of 2026,” he said.
CellBx's core technology is Partsortix. It focuses on harvesting circulating tumour cells, or CTCs, to analyse cancer cells in the bloodstream, helping researchers and clinicians study how cancers develop and respond to treatment.