Lumos Diagnostics completion of retail entitlement offer

Lumos Diagnostics Holdings Limited (ASX:LDX) has successfully completed the retail component of its Entitlement Offer, raising approximately A$6.9 million. The Entitlement Offer, including the institutional component, aimed to raise approximately A$10.0 million, with the institutional component having been completed earlier, raising approximately A$3.1 million.

Lumos CEO and Managing Director, Doug Ward, on successful capital raise

With the Retail Entitlement Offer successfully reaching its target amount of A$6.9 million, the capital raise was fully subscribed, bringing the total amount raised under the Entitlement Offer to A$10.0 million. We appreciate the strong backing from all those investors who participated in this capital raise, particularly Tenmile and Ryder Capital, who are aligned with our vision to address unmet needs in human health. These funds provide Lumos with solid backing to drive the growth of our business. Achieving CLIA waiver status in the US for our FebriDx® point-of-care test is high on our list of objectives, and we are moving forward with this project, with the aim of completing the CLIA waiver study and FDA application ahead of the 2025 US flu season.

Lumos Diagnostics outlook and future plans

Lumos Diagnostics has successfully completed the retail component of its Entitlement Offer, raising approximately A$6.9 million, and the total amount raised under the Entitlement Offer to A$10.0 million. The company aims to utilize these funds to drive the growth of its business, particularly in achieving CLIA waiver status in the US for its FebriDx® point-of-care test. This strategic objective aligns with the company's vision to address unmet needs in human health. Looking ahead, Lumos Diagnostics is focused on completing the CLIA waiver study and FDA application ahead of the 2025 US flu season, indicating a proactive approach towards expanding its product offerings and market presence.