Interim Results for the six months ended 30 June 2023
BUILDING COMMERCIAL MOMENTUM DELIVERS REVENUE GROWTH
Cash runway extended into Q1 2025
GUILDFORD, SURREY / ACCESSWIRE / September 7, 2023 / ANGLE plc (AIM:AGL)(OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumor cell (CTC) diagnostic solutions for the research and diagnostic oncology market, today announces its unaudited interim financial results for the six months ended 30 June 2023.
Financial Highlights
Operational Highlights
Pharma services
Products
Content (applications)
Corporate Highlights
Outlook
ANGLE Founder and Chief Executive, Andrew Newland, commented:
“Encouraging progress was made on multiple levels during the half-year. This was reflected in the beginnings of the post-FDA anticipated revenue ramp delivering revenues trebled year-on-year. Major efforts have been focused on both the products and services commercialisation channels and on the development of “content” in terms of applications for which customers can use the Parsortix system.
The management team has been broadened to drive commercialisation with the appointment of highly experienced Chief Commercial and Chief Scientific Officers and, following a detailed review, resources have been focused to maximise commercialisation and extend the cash runway into Q1 2025.
In the second half, momentum is expected to accelerate further as major streams of work to demonstrate analysis of Parsortix CTC harvests utilising major third-party molecular systems are completed generating new large scale revenue opportunities.”
Details of analyst meeting and webcast
A meeting for analysts will be held at 11:00 am today at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.
A live webcast of the analyst meeting can be accessed via ANGLE’s Investor Centre page, https://angleplc.com/investor-relations/corporate-presentations/, with Q&A participation for analysts. Please register in advance and log on to the webcast approximately 5 minutes before 11:00 am on the day of the results. A recording of the webcast will be made available on ANGLE’s website following the meeting.
For further information:
ANGLE plc | +44 (0) 1483 343434 |
Andrew Newland, Chief Executive Ian Griffiths, Finance Director Andrew Holder, Head of Investor Relations |
|
Berenberg (NOMAD and Joint Broker) Toby Flaux, Ciaran Walsh, Milo Bonser |
+44 (0) 20 3207 7800 |
Jefferies (Joint Broker) Thomas Bective, Shaam Vora |
+44 (0) 20 7029 8000 |
FTI Consulting Simon Conway, Ciara Martin Matthew Ventimiglia (US) |
+44 (0) 203 727 1000 |
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 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
View source version on accesswire.com:
https://www.accesswire.com/781541/angle-plc-announces-interim-results-for-the-period-ended-30-june-2023
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