Q2 and First Half Year Results ended 30 June 2026

Cellbxhealth

15/07/2026 07:00

RNS Number : 3458M
  
CelLBxHealth PLC
  
15 July 2026
  
 



 
CelLBxHealth plc
("CelLBxHealth" or "the Company")
 
Q2 and First Half Year Results ended 30 June 2026
 
Q2 revenue increased 100% over Q1 and annualised burn rate reduced by 61%
 
Guildford, UK and Plymouth Meeting, U.S. - 15 July 2026 - CelLBxHealth plc (AIM: CLBX), a CTC intelligence company specialising in innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, announces its unaudited Q2 and the interim results for the six months ended 30 June 2026.
 
CelLBxHealth Executive Chairman, Jan Groen, commented:
"We have created a leaner, more commercially focused business, strengthened our strategic partnerships and the strong growth in Q2 revenue is an early sign of the successful implementation of our revised commercial strategy. Our unique live CTC platform addresses an important unmet clinical need, and we remain focused on disciplined execution as we convert this growing opportunity into sustainable revenue growth."
 
Financial Highlights




●


Q2 revenue of £0.4 million represents a 100% increase over Q1 2026 (£0.2 million)




●


H1 revenue of £0.6 million (H1 2025: £0.8 million)




●


Gross profit of £0.4 million (H1 2025: £0.5 million) with gross margin of 61% (H1 2025: 59%)




●


Operating loss significantly reduced to £2.7 million (H1 2025: £9.7 million)




●


Loss after tax of £2.7 million (H1 2025: £9.3 million)




●


Restructuring programme substantially delivered, reducing the annualised operating cash cost base to approximately £6.3 million and materially cutting underlying cash burn, despite £1.5 million+ of restructuring cash payments




●


Cash and cash equivalents of £2.9 million at 30 June 2026 (30 June 2025: £5.3 million) with an average monthly cash burn moving forward of between £0.3 million and £0.4 million




 
Operational Highlights




●


Commercial momentum strengthened during the period, with revenue increasing significantly from Q1 to Q2




●


Master Services Agreement now in place with AstraZeneca




●


Collaboration with AdventHealth for two clinical studies evaluating CTCs to improve cancer care




●


Research collaboration signed with The Royal Marsden NHS Foundation Trust evaluating CTC-DNA profiling in advanced non-small cell lung cancer where ctDNA testing is uninformative




●


Strategic collaborations progressed with QIAGEN, Roche Diagnostics, Illumina and Myriad




●


Sub-lease on US facility effective 1 May 2026, further reducing operating costs




 
Post closing events




●


On 6 July 2026 the Company and Peter Collins, Chief Executive Officer, decided it is in the best interest of both parties to part ways for Peter to pursue other opportunities. Jan Groen continues as Executive Chairman while the Board conducts the recruitment process for a new Chief Executive Officer. The Board remains confident in the continuity of the Company's strategy and execution during this transition




 
Outlook




●


FY2026 revenues remain expected to be at least £2.1 million, representing growth of at least 50% over FY2025




●


Significantly reduced operating cost base and improved cash utilisation provide cash runway into Q2 2027




●


The Board believes the strategic actions implemented during late 2025 into 2026 established a leaner, more focused and commercially aligned platform for future growth




●


Commercial weighted pipeline of £3.5 million continues to build, supported by increasing engagement from pharmaceutical and diagnostic partners and strategic collaborations across key markets




●


On the back of further revenue growth, the Board expects to be EBITDA positive in 2028




 
For further information:
 




CelLBxHealth plc
Jan Groen, Executive Chairman


investor@cellbxhealth.com
via Walbrook PR




 








Cavendish (NOMAD and Broker)
Geoff Nash / Isaac Hooper (Corporate Finance)
Sunila de Silva (Corporate Broking)
Nigel Birks (Life Science Specialist Sales)


 
+44 (0)20 7220 0500




 








Walbrook PR (Investor and Media Relations)
Paul McManus / Alice Woodings


Tel: +44 (0)20 7933 8780 or CelLBx@walbrookpr.com
Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654




 
Notes for editors 
 
About CelLBxHealth plc
CelLBxHealth plc is a CTC intelligence company specialising in innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology. Its patent-protected Parsortix® platform harvests CTCs from blood and can be integrated with existing laboratory instruments for comprehensive downstream analysis - including whole-cell imaging, proteomic profiling and full genomic workflows.
 
Commercial focus spans three revenue streams - Product Sales of the Parsortix platform and consumables through CRO and clinical lab partnerships, Laboratory Services including clinical trial support and assay development delivered from a GCLP-compliant UK facility, and Lab Developed Tests (LDTs), pursued through a combination of strategic partnerships and in-house development.
 
For more information, visit https://cellbxhealth.com/.
 




 
CELLBXHEALTH PLC
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 JUNE 2026
 

 













Period ended 30 June 2026
(Unaudited)


 


Period ended 30 June 2025
(Unaudited)






Year ended
31 December 2025
(Audited)








Note


£'000






£'000






£'000




Revenue






597






796






1,351




Cost of sales






(233)






       (330)






(519)




Gross profit






364






466






832




Other operating income


2


169






   -






956




Operating costs






(3,184)






  (10,143)






(21,037)




Operating loss






(2,651)






(9,677)






(19,249)




Finance income






50






96






126




Finance costs






(68)






      (151)






(285)




Loss before tax






(2,669)






(9,732)






(19,408)




Tax (charge)/credit


2


(32)






         464






(101)




Loss for the period






(2,701)






(9,268)






(19,509)




 






 




















Other comprehensive income/(loss)
Items that may be subsequently reclassified to profit or loss






 




















Exchange differences on translating foreign operations






(370)






     2,107






1,625




Other comprehensive income/(loss)






(370)






     2,107






1,625




 
Total comprehensive loss for the period






 
(3,071)






(7,161)






 
(17,884)




 






 




















Loss per share attributable to owners of the parent






 




















Basic and Diluted (pence per share)


3


(0.24)






(2.87)






(5.51)




All activity arose from continuing operations.
 






 






































 
CELLBXHEALTH PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2026
 

 









 






30 June
2026
(Unaudited)






30 June
2025
(Unaudited)






31 December 2025
(Audited)












Note






£'000






£'000






£'000




Assets














 




















Non-current assets






 






 




















Intangible assets






 






270






2,631






390




Property, plant and equipment






 






801






2,137






1,065




Right-of-use assets






 






555






3,448






740




Total non-current assets






 






1,626






8,216






2,195












 






 




















Current assets






 






 




















Inventories






 






1,140






1,573






1,296




Trade and other receivables






 






2,167






1,681






1,744




Taxation






 






-






1,344






-




Cash and cash equivalents






 






2,875






5,270






7,349




Total current assets






 






6,182






9,868






10,389




 






 






 




















Total assets






 






7,808






18,084






12,584




Liabilities














 




















Non-current liabilities






 






 




















Lease liabilities






 






(884)






(2,811)






(1,000)




Provisions






 






(380)






(373)






(618)




Trade and other payables






 






-






(56)






-




Total non-current liabilities






 






(1,264)






(3,240)






(1,618)




Current liabilities






 






 




















Lease liabilities






 






(427)






(855)






(817)




Provisions






 






(437)






(94)






(434)




Corporation tax payable






 






(213)






-






(181)




Trade and other payables






 






(1,357)






(2,201)






(2,338)




Total current liabilities






 






(2,434)






(3,150)






(3,770)




 






 






 




















Total liabilities






 






(3,698)






(6,390)






(5,388)




Net assets






 






4,110






11,694






7,196




Equity






 






 




















Share capital






4






32,673






32,264






32,673




Share premium






 






125,299






118,362






125,299




Share-based payments reserve






 






411






3,925






2,582




Other reserve






 






2,553






2,553






2,553




Translation reserve






 






(3,990)






(3,138)






(3,620)




Accumulated losses






 






(152,836)






(142,170)






(152,157)




ESOT shares






 






-






(102)






(134)




 
Total equity






 






 
4,110






 
11,694






 
7,196








CELLBXHEALTH PLC
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED 30 JUNE 2026
 

 









30 June
2026
(Unaudited)






30 June
2025
(Unaudited)






31 December 2025
(Audited)








£'000






£'000






£'000




Operating activities


 














 




Loss before tax


(2,669)






(9,732)






(19,408)




Adjustments for:


 




















Depreciation and impairment of property, plant and equipment


293






413






1,588




Depreciation and impairment of right-of-use assets


267






409






1,756




Loss on disposal of property, plant and equipment


-






-






56




Gain on lease termination


(258)






-






-




Gain on reassessment of lease term on right-of-use assets


-






-






(54)




Amortisation and impairment of intangible assets


122






28






2,279




Share-based payment charge/(credit)


(15)






414






(752)




Exchange differences


(354)






2,142






1,634




R&D tax credit income


(169)






-






(956)




Net finance (income)/costs


18






55






159




Operating cash flows before movements in working capital


(2,765)






(6,271)






(13,698)




(Increase)/decrease in inventories


150






30






206




(Increase)/decrease in trade and other receivables


(256)






346






1,238




Increase/(decrease) in trade and other payables


(882)






(53)






79




Increase/(decrease) in provisions


(245)






(86)






515




Operating cash flows


(3,998)






(6,034)






(11,660)




Research and development tax credits received


-






1,436






2,397




Net cash from/(used in) operating activities


(3,998)






(4,598)






(9,263)




Investing activities


 




















Purchase of property, plant and equipment


(33)






(87)






(216)




Purchase of intangible assets


8






(30)






(33)




Proceeds on disposal of property, plant and equipment


3






-






-




Interest received


50






96






126




Net cash from/(used in) investing activities


28






(21)






(123)




Financing activities


 




















Net proceeds from issue of share capital - placing


(182)






-






7,623




Shares acquired by ESOT


-






-






(32)




Principal elements of lease payments


(271)






(555)






(1,037)




Interest elements of lease payments


(55)






(108)






(263)




Net cash from/(used in) financing activities


(508)






(663)






6,291




Net increase/(decrease) in cash and cash equivalents


 
(4,478)






 
(5,282)






 
(3,095)




Cash and cash equivalents at start of period


7,349






10,425






10,425




Effect of exchange rate fluctuations


4






127






19




Cash and cash equivalents at end of period


2,875






5,270






7,349




 


CELLBXHEALTH PLC
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2026
 

 









------------------------------------------ Equity attributable to owners of the parent -------------------------
 




 


Share


Share


Share-based
payments


Other


Translation


Accumulated


ESOT


 
Total




 


capital


premium


reserve


reserve


reserve


losses


shares


equity




 


£'000


£'000


£'000


£'000


£'000


£'000


£'000


£'000




At 1 January 2025


32,264


118,362


3,754


2,553


(5,245)


(133,145)


(102)


18,441




For the period to 30 June 2025




































Consolidated loss






















(9,268)






(9,268)




Other comprehensive income/(loss)


















2,107










2,107




Total comprehensive income/(loss)


















2,107


(9,268)






(7,161)




Share-based payment expense










414


















414




Released on forfeiture/lapse










(243)










243






-




Total transactions with owners
 










171
 


-
 


-
 


243
 


-
 


414
 




At 30 June 2025 (Unaudited)


32,264


118,362


3,925


2,553


(3,138)


(142,170)


(102)


11,694










































For the period to 31 December 2025




































Consolidated loss






















(10,241)






(10,241)




Other comprehensive income/(loss)


















(482)










(482)




Total comprehensive income/(loss)










 


 


(482)


(10,241)


 


(10,723)




Issue of shares (net of costs)


409


7,014






















7,423




Shares acquired by ESOT


























(32)


(32)




Share-based payment credit










(1,166)


















(1,166)




Equity-settled share-based payment - broker warrants






(77)


77


















-




Released on forfeiture/lapse










(254)










254






-




Total transactions with owners
 


409
 


6,937
 


(1,343)
 


-
 


-
 


254
 


(32)
 


6,225
 




At 31 December 2025 (Audited)


32,673


125,299


2,582


2,553


(3,620)


(152,157)


(134)


7,196




 


 


 


 


 


 


 


 


 




For the period to 30 June 2026


 


 


 


 


 


 


 


 




Consolidated loss


 


 


 


 


 


(2,701)


 


(2,701)




Other comprehensive income/(loss)


 


 


 


 


(370)


 


 


(370)




Total comprehensive income/(loss)


 


 


 


 


(370)


(2,701)


 


(3,071)




Settlement of employee share awards using ESOT shares










(134)






 


 


134


-




Share-based payment credit










(15)


 


 


 






(15)




Released on exercise










(1,529)


 


 


1,529






-




Released on forfeiture/lapse










(493)


 


 


493






-




Total transactions with owners
 


-
 


-
 


(2,171)
 


-
 


-
 


2,022
 


134
 


(15)
 




At 30 June 2026 (Unaudited)


32,673


125,299


411


2,553


(3,990)


(152,836)


-


4,110






CELLBXHEALTH PLC
NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION
FOR THE PERIOD ENDED 30 JUNE 2026
 

 

1. Preliminary announcement
The Condensed Interim Financial Information is the unaudited interim consolidated financial information (the "Condensed Interim Financial Information") of CelLBxHealth plc, a company incorporated and domiciled in Great Britain and its subsidiaries (together referred to as the "Group") for the six-month period ended 30 June 2026 (the "interim period").
 
The Condensed Interim Financial Information should be read in conjunction with the Financial Statements of the Group for the year ended 31 December 2025, which have been prepared in accordance with UK-adopted international accounting standards. New and revised accounting standards and interpretations that became effective in the period did not have or are not expected to have a significant impact on the Group. Where necessary, comparative information has been reclassified or expanded from the previously reported Condensed Interim Financial Information to take into account any presentational changes which were made in the Annual Report and Financial Statements to 31 December 2025 and which may be made in the Annual Report and Financial Statements to 31 December 2026.
 
The accounting policies used in the preparation of the Condensed Interim Financial Information for the six months ended 30 June 2026 are in accordance with UK-adopted accounting standards and are consistent with those which will be adopted in the Financial Statements for the year ended 31 December 2026. While the Condensed Interim Financial Information has been prepared in accordance with the recognition and measurement criteria of UK-adopted international accounting standards, these Financial Statements do not contain sufficient information to comply with UK-adopted international accounting standards.
 
The Condensed Interim Financial Information does not constitute statutory financial statements as defined in section 434 of the Companies Act 2006 and is unaudited and has not been reviewed. The comparative information for the six months ended 30 June 2025 is also unaudited. The comparative figures for the year ended 31 December 2025 have been extracted from the Group Financial Statements as filed with the Registrar of Companies. The report of the auditors on those Financial Statements was unqualified and did not contain statements under sections 498(2) or (3) of the Companies Act 2006, although it included a material uncertainty related to going concern. The Directors have updated their assessment of going concern for the six months ended 30 June 2026 and their conclusions are set out below.
 
The Condensed Interim Financial Information was approved by the Board and authorised for issue on 14 July 2026.
 
Going concern
The Financial Statements have been prepared on a going concern basis. In adopting this basis, the Directors have assessed the Group's ability to continue as a going concern for a period of at least 12 months from the date of approval of these Financial Statements, taking into account all available information.
 
The Group's business activities, together with the factors likely to affect its future development, performance and financial position, are set out in the Executive Chairman's letter and the Chief Executive's Statement.
 
At 30 June 2026, the Group held cash and cash equivalents of £2.9 million. The Group funds its operations through existing cash reserves, revenues generated across its three commercial pillars, and through equity financing where appropriate.
 
The Directors have prepared a detailed monthly forecast to 31 December 2027, incorporating severe but plausible downside scenarios. These scenarios assume a material reduction in forecast revenues, delays in the conversion of pipeline opportunities, and limited access to external financing, with discretionary expenditure reductions applied to partially offset the impact. The Group anticipates revenue growth in FY2026, weighted towards the second half of the year, with a return to material revenue growth in FY2027 dependent on the successful and timely conversion of a number of significant commercial opportunities. Based on current cash resources, the Group has funding into Q2 2027.
 
The Directors believe several potential funding sources are available to the Group, including revenues, commercial milestones, licensing income, and debt or equity financing. However, based on current forecasts, the Group will require additional funding to continue operations beyond Q2 2027. There can be no certainty that such funding will be obtained on acceptable terms, or at all.
 
The Group's forecasts are dependent upon the successful and timely conversion of a number of significant commercial opportunities into revenue, the timing and extent of which remain uncertain. A significant proportion of forecast revenues is concentrated within a relatively small number of opportunities and customers, and many pipeline opportunities remain at proposal stage. There can be no certainty that forecast revenues will be achieved in line with management's expectations. These conditions, together with the requirement for additional funding beyond Q2 2027, represent a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Notwithstanding this, the Directors have a reasonable expectation that the Group will be able to secure the necessary funding and meet its liabilities as they fall due. As a result, the Financial Statements continue to be prepared on a going concern basis and do not include any adjustments that would result if the Group were unable to continue as a going concern.
 
Critical accounting estimates and judgements
The preparation of the Financial Statements requires management to make judgements and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. There were no areas of significant judgement or key sources of estimation uncertainty in preparing these Financial Statements.
 
2. Tax
The Group undertakes research and development activities. During the period the Group recognised income under the UK merged Research and Development tax relief scheme within Other operating income. The comparative period reflects claims made under the former SME R&D tax relief regime, which were presented within taxation.
 
3. Loss per share attributable to owners of the parent
Basic and diluted loss per share is calculated by dividing the loss attributable to owners of the parent of £2.7 million (six months to 30 June 2025: loss £9.3 million, year ended 31 December 2025: loss £19.5 million) by the weighted average number of ordinary shares in issue during the period.
 
As the Group reported a loss in the current and comparative periods, potentially dilutive share options have not been included in the calculation of diluted loss per share as they are anti-dilutive. As a result, diluted loss per share is equal to basic loss per share.
 
The weighted average number of ordinary shares used in the calculation was 1,136,767,299 (six months to 30 June 2025: 322,528,409; year ended 31 December 2025: 353,834,856).
 
4. Share capital
The Company has one class of ordinary shares which carry no right to fixed income. The deferred shares carry no voting rights and have restricted rights to dividends and on a return of capital as set out in the Company's Articles of Association.
 
At 30 June 2026, the Company had 1,139,402,658 ordinary shares of £0.0005 each and 322,641,668 deferred shares of £0.0995 each in issue and fully paid.
 
5. Shareholder communications
This announcement is being sent to all shareholders on the register at 15 July 2026. Copies of this announcement are posted on the Company's website https://cellbxhealth.com/ and are available from the Company's registered office: 10 Nugent Road, Surrey Research Park, Guildford, Surrey, GU2 7AF.




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