Lumos Diagnostics Holdings Ltd. (AU:LDX) has released an update.
Lumos Diagnostics Holdings Ltd. announced the successful completion of the initial phase of their Development Agreement with Hologic, Inc. to create a new fetal fibronectin (fFN) test for pre-term birth detection. The first phase, involving Product Definition and Planning, earned Lumos $0.4 million, with half recognized in Q3 FY2024 and the rest to be recorded in Q4 FY2024. The company now advances to the Assay Feasibility phase, valued at $0.6 million, as they continue to develop this vital prenatal diagnostic tool.
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