Lumos Diagnostics Receives $5 Million Prepayment From US Distribution Partner, Shares Up 3%

MT Newswires Live
Apr 14

Lumos Diagnostics (ASX:LDX) has received a $5 million prepayment for product from US distribution partner PHASE Scientific, confirming that the US Food and Drug Administration's 510(k) clearance with CLIA waiver for FebriDx product satisfies the milestone requirements of the PHASE distribution agreement, according to a Tuesday Australian bourse filing.

The company said the $5 million represents a prepayment for future sales and will be recorded as revenue when the product is shipped, the filing added.

The company's shares rose 3% in recent Tuesday trade.

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