Q2 and First Half Year Results ended 30 June 2026

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	[e-mail] via Walbrook PR
Cavendish (NOMAD and Broker) Geoff Nash / Isaac Hooper (Corporate Finance) Sunila de Silva (Corporate Broking) Nigel Birks (Life Science Specialist Sales)	[phone]
Walbrook PR (Investor and Media Relations) Paul McManus / Alice Woodings	Tel: [phone] or [e-mail] Mob: [phone]

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.

 

END