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(Sharecast News) - CelLBxHealth said in an update on Friday that it expected to report lower-than-anticipated revenues for 2025 after the deferral of several sales contracts, while highlighting a strong cash position and significant cost reductions as it positions the business for commercial progress in 2026.
The AIM-traded circulating tumour cell intelligence company, formerly known as Angle, said preliminary unaudited revenue for the fourth quarter was expected to be 0.4m, taking full-year revenue to 1.4m.
That compared with previous expectations of 1.6m for the year, after sales contracts worth about 0.2m were pushed into the first quarter of 2026.
Full-year biopharma revenue was 0.3m, while product revenue totalled 1.1m.
CelLBxHealth reported cash of 7.3m as at 31 December, which it said provided a strong balance sheet to execute its revised strategy.
The firm also outlined further cost-rationalisation measures, including the voluntary delisting of its ordinary shares from the OTCQX Market due to low trading volumes and administrative costs.
It said the final day of trading on OTCQX was 31 December, with trading moving to the Pink Limited Market from 2 January.
In addition, the company said it was consolidating its Guildford operations into a single facility and had implemented headcount reductions and other restructuring actions.
Total annualised cost savings from the measures were expected to be 5.9m.
Looking ahead, CelLBxHealth said it was now focussed on delivering commercial milestones from its qualified 2026-2027 sales pipeline of around 12.6m, with a risk-weighted value of 4.5m, following a fundraising completed in late November.
"The company remains on track with the execution of its organisational restructure and delivery of associated cost-saving measures," said chief executive Peter Collins.
"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 0.2m, were deferred into the first quarter of 2026."
At 1228 GMT, shares in CelLBxHealth were down 5% at 0.95p.
Reporting by Josh White for Sharecast.com.