20 February 2023
LungLife AI, Inc.
(the “Company” or “LungLife”)
Preliminary audited results for year ended 31 December 2022
LungLife to report financial results for full-year 2022
LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer, announces its audited preliminary results for the year ended 31 December 2022.
Summary and Highlights for the year:
1 Earnings before interest, tax, depreciation and amortisation, adjusted to exclude exceptional items, share based payments and other operating income
2 Federal government charged with providing life-long healthcare services to eligible veterans
Commenting, Paul Pagano, Chief Executive Officer of LungLife, said: “2022 was a significant year for LungLife and I’m proud of the team for the accomplishments made in fulfilment of our milestones. We initiated our multi-centre validation study in February, expanded the number of participating sites throughout the year and is on track to complete participant enrolment in the next 2-3 months. We ended the year with CMS confirming a price of $2,030 for LungLB® under crosswalk - avoiding a year long process of gapfill price determination and accelerating progress on reimbursement.
“We also received two independent reviews of LungLB® with the New York CLEP permit and selection to participate in the US National Cancer Institute’s Early Detection Research Network. These have provided external evaluation of our technology’s analytical and clinical data and are important steps in increasing awareness of LungLB® and moving towards the Company’s commercialisation plan.
“We remain focused on completing our clinical validation study, commencing our clinical utility study later this year and expanding patient access to LungLB® through implementation of our commercial reimbursement plan. We are very excited by the opportunities ahead and the potential for LungLB® to transform the early detection of lung cancer”.
For the full report and accounts, click HERE.
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