ANGLE
Guildford, United Kingdom

ANGLE is a specialist diagnostics company. Its proprietary Parsortix technology can capture and harvest very rare cells, including CTCs (circulating tumour cells), from a blood sample. The FDA approval for its clinical use to guide precision cancer care will open up further multiple commercial opportunities.

www.angleplc.com

Investment Perspective

ANGLE’s updates reveal dialogue with FDA for Parsortix’s approval for use in mBC (metastatic breast cancer) is continuing and constructive, first submissions for accreditation of UK and US clinical laboratories have been made, but development of the ovarian cancer LDT (Laboratory Developed Test) has been hampered by a delay to data read out from a key study (due to third-party supply issues) to H122. A new study comparing CTC harvest and downstream analysis against biopsies in mBC shows good correlation and indicates Parsortix use could materially benefit clinical diagnoses and treatments. The longer wait for FDA approval and first LDT roll-out prompt us to revisit our forecasts and valuation models. Our new valuation of £506m ($658m), or 215p/share compares to £581m ($755m), 248p/share previously.

Market information

SymbolPrimary exchanges
AGLAIM London

Research

Post-FDA approval commercial momentum is building
Lighthouse | 29 Sep 2022
£20m raise funds commercialisation through to mid-2024
Lighthouse | 15 Jul 2022
Parsortix FDA clearance marks a key transition point
Lighthouse | 26 May 2022

Recent News

Multiple downstream analysis techniques for CTCs
02 Nov 2022
Parsortix poster at ISLB meeting
24 Oct 2022
Streamlining of operations to increase cash runway
18 Oct 2022
First regional distribution agreement
12 Oct 2022