LBT Innovation: Ends positive June quarter with $7.1M in the bank
- LBT Innovations (LBT) has ended the June quarter with almost $7.1 million in the bank, amid a number of wins for APAS Independence
- The company burnt $485,000 on operating costs during the quarter, the majority of which went towards paying staff
- Meanwhile, LBT’s APAS Independence technology received support from John Hopkins University during the period
- The technology also recorded its maiden U.S. sale, while the FDA provided feedback on one of its platforms
- Since the end of the June quarter, LBT has also reached some major milestones, including a marketing agreement and successful capital raise
- Shares in LBT are steady, selling for 15.5 cents per share
