Recent deals provide evidence of assay traction
Lighthouse | 21 April 2023
Trinity Delta view: Recent commercial related activities, with a new pharma services contract, plus an assay development partnership, are encouraging steps towards securing potentially significant future Parsortix revenues. Both provide important external validation of Parsortix, and as this continues to build, future deal execution should be facilitated, in our view. The opportunities being explored are sizeable and will also help to expand near-term revenues. Positive revenue momentum is already evident in Q123, according to management. In the near-term, we expect ANGLE to remain focused on growing the Pharma services business, attracting industry partners for downstream analysis, and completing the remaining LDT development work ahead of potential launches from 2024. Our DCF-based ANGLE valuation is £253m, equivalent to 97p per share.
21 April 2023
|Primary exchange||AIM London|
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.
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