GUILDFORD, UK / ACCESSWIRE / September 29, 2022 / ANGLE plc ("ANGLE" or "the Company") (AIM:AGL)(OTCQX:ANPCY), a world leading liquid biopsy company, today announces its unaudited interim financial results for the six months ended 30 June 2022.
Operational Highlights
Financial Highlights
Outlook
Garth Selvey, Non-Executive Chairman of ANGLE plc, commented:
"I am delighted that during the period the FDA granted a De Novo Class II classification for the Parsortix system for use in harvesting cancer cells from metastatic breast cancer patient blood for subsequent user-validated analysis. Clearance substantially differentiates ANGLE from the competition and is expected to significantly accelerate commercial adoption of the system in both research and clinical settings.
ANGLE's global pharma services business is gaining traction, with a notable increase in potential customer engagement in the weeks post-FDA clearance and subsequently. We are pleased to see repeat business already coming through from an early major customer and the successful development of our first bespoke assay for another as we start to build our service offering 'menu'.
Demonstration of clinical utility is a key strategic goal for the Company. The positive headline results for the ovarian cancer pelvic mass triage test announced today provide a real world example of the value of molecular analysis of the Parsortix harvest of circulating tumour cells and support the Company's view that this is the "best sample" for analysis for a liquid biopsy.
Shortly after the period end, ANGLE successfully completed a fundraising of £20.1 million (£18.9 million net of expenses). Recognising the current adverse market conditions and wider macroeconomic environment, ANGLE continues to keep a tight focus on building revenues, controlling costs and maximising the cash runway within available funds whilst ensuring key commercial milestones are delivered."
Details of webcast
A virtual meeting and webcast for analysts will be held at 11:00 am BST today. If you wish to attend, please register in advance and log on to the webcast approximately 5 minutes before 11.00 am. Details of how to attend can be accessed via https://angleplc.com/investor-relations/corporate-presentations/.
For further information:
ANGLE plc | +44 (0) 1483 343434 |
Andrew Newland, Chief Executive | |
Berenberg (NOMAD and Joint Broker) | +44 (0) 20 3207 7800 |
Jefferies (Joint Broker) | +44 (0) 20 7029 8000 |
FTI Consulting |
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.
For Frequently Used Terms, please see the Company's website on https://angleplc.com/investor-relations/glossary/
These Interim Results may contain forward-looking statements. These statements reflect the Board's current view, are subject to a number of material risks and uncertainties and could change in the future. Factors that could cause or contribute to such changes include, but are not limited to, the impact of the COVID-19 pandemic, the general economic climate and market conditions, as well as specific factors including the success of the Group's research and development activities, commercialisation strategies, the uncertainties related to clinical study outcomes and regulatory clearance, obtaining reimbursement and payor coverage, acceptance into national guidelines and the acceptance of the Group's products by customers.
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SOURCE: ANGLE plc