Quarterly sales boost for LBT Innovations

LBT Innovations (ASX:LBT), an Australian medical technology company, announced its quarterly activities and cash flow report for the quarter ending September 30, 2024. The company highlighted notable sales of its APAS® Independence instruments to major pharmaceutical firms, ongoing product development efforts, and a bolstered financial standing.

Outlook and strategic focus for LBT Innovations

LBT Innovations' quarterly report underscores the company's successful sales efforts and strengthened financial position. The sales of APAS® Independence instruments to AstraZeneca and Bristol Myers Squibb highlight the growing demand in the pharmaceutical sector. The development of the new APAS® Contact Plate application is aimed at enhancing market opportunities and recurring revenues. The company's strategic appointments and focus on establishing its technology as a standard in microbiology further align with its growth ambitions. Positive cash flow projections for the next quarters, coupled with ongoing product development, position LBT Innovations for continued success in its target markets.

Executive insights on quarterly performance

We are pleased with the significant sales commitments secured this quarter, which are expected to contribute positively to our cash flows in the coming quarters. The orders from AstraZeneca and Bristol Myers Squibb are a testament to the value of our APAS® Independence instruments in the pharmaceutical market.