IQ-AI Ltd - Jersey-based medical services firm - Posts larger interim pretax loss due to increased administrative costs. Pretax loss in the half-year to June 30 widens to GBP330,584 from GBP207,135 a year ago. Revenue climbs 7.2% to GBP255,609 from GBP238,488. However, revenue growth is offset by administrative costs increasing by 34% to GBP583,346 from GBP436,247.
Highlights NIMBLE app, which stands for Network for the Integrated Management of Brain Metastases. IQ-AI entered into an agreement with Medical College of Wisconsin for the commercial rights to NIMBLE. IQ-AI explains: "NIMBLE provides a tool for both inpatient and outpatient providers to implement a data-driven, comprehensive algorithm for managing brain metastases, via a secure mechanism by which providers can submit a patient for consideration to a virtual tumour board for real-time guidance of the best possible management for the patient".
Regarding outlook, states "the development of both NIMBLE and the service model offer the prospect of new income streams in the months ahead which could complement our ongoing development projects discussed above."
Current stock price: 2.48 pence, down 18% on Tuesday
12-month change: down 64%
By Tom Budszus; tombudszus@alliancenews.com
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Iq-ai Ltd (IQAI)