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(Alliance News) - LungLife AI Inc's shares rose almost 50% following successful trials of its LungLB test for indeterminate lung nodules.
Shares in the California-based developer of clinical diagnostic solutions for early lung cancer detection were up 45% to 66.80 pence each in London on Tuesday morning.
This came after LungLife reported the successful validation of its LungLB test in a "prospective, multi-site clinical study". The LungLB test is a blood-based tool used by clinicians to help with earlier diagnosis of lung cancer nodules.
The diagnostic demonstrated a positive predictive value of 81% in distinguishing benign from cancerous lung nodules in patients with nodules smaller than 15 millimetres. This surpasses the current clinical standard of around 60%.
According to LungLife, this small nodules group is "clinically important", as it is comprised of around 87% "intermediate" risk nodules, which prove the most challenging to evaluate and diagnose.
LungLB also outperformed the "highly validated" Mayo Risk Model nodule evaluation tool, with an area under the curve of 72% compared to Mayo's 62%.
According to LungLife, the results are sufficient for publication and the execution of its commercial programme for LungLB. The initial launch will be through an early access program offered from its California laboratory in the first quarter of 2024.
LungLife Chief Executive Officer Paul Pagano said: "This important clinical validation of the LungLB test is a significant milestone for our company. While we have identified small nodules as an early commercialisation opportunity, in the background we will continue to optimise the LungLB test for additional indicated uses, while progressing on the next stage of our programme."
By Hugh Cameron, Alliance News reporter
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