Trinity Delta view: All the building blocks remain in place at ANGLE to deliver sustainable long-term growth from both Products and Services. However, in the near-term, resources will be appropriately focused on maximising the Pharma Services opportunity to capitalise on the recent momentum in this business. As and when conditions improve in the Products business, ANGLE is prepared and has the elements in place to re-invigorate this revenue stream. Whilst the slowdown in Products will impact near-term revenues, the Pharma Services focused strategy, particularly on large pharma, is an attractive mid-term opportunity. The Pharma Services sales cycle can be protracted for new customers; however, the prospect of broader relationships with existing clients could be swifter. Our valuation and forecasts remain suspended; for reference our last published ANGLE valuation was £174m, or 67p/share.
Lighthouse
1 October 2024
| Price | 8.25p |
| Market Cap | £26.6m |
| Primary exchange | AIM London |
| Sector | Healthcare |
| Company Code | AGL |
| Corporate client | Yes |
Company description
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 clearance for its clinical use to guide precision cancer care should open up multiple commercial opportunities.
Analysts
Lala Gregorek
lgregorek@trinitydelta.org
+44 (0) 20 3637 5043
Philippa Gardner
pgardner@trinitydelta.org
+44 (0) 20 3637 5042
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