In early May this group’s shares were trading at 25p each.
However, since its success in raising £9.3m of fresh funds just three weeks ago, the shares of Angle Plc (LON:AGL) have been continuing to trade below the discounted share issue at 15p each, falling to an after fund-raise low of 13.50p last week.
So, investors must be hoping that the company could be giving out some good news at its midday AGM at the Surrey Technology Centre in Guildford next Thursday (11th July).
The Business
The company is a world-leading liquid biopsy company with innovative circulating tumour cell solutions for use in research, drug development and clinical oncology using a simple blood sample.
The company’s FDA-cleared and patent protected circulating tumour cell harvesting technology, known as the Parsortix® PC1 system, enables complete downstream analysis of the sample, including whole cell imaging and proteomic analysis and full genomic and transcriptomic molecular analysis.
The Parsortix technology is a unique CTC harvesting method using patented microfluidics in the form of a single use cassette, housed within an automated system.
It captures and harvests live, intact circulating tumour cells and CTC clusters from whole blood for downstream analysis.
Management Comment
Just over a month ago when ANGLE announced its 2023 results, Chief Executive, Andrew Newland, stated that:
“ANGLE has made considerable commercial progress in 2023 through the ongoing execution of our strategy. Major efforts have been focused on both the products and services commercialisation channels and on the development of “content” to provide applications of the Parsortix system for customers.
This has resulted in the launch of four imaging assays, a strategic partnership with BioView for the development of a quantitative HER2 assay kit, repeat and new business with pharmaceutical customers for services and positive research study results for the Company’s comprehensive solution for dual molecular analysis of CTC-DNA and ctDNA from a single blood sample.
2023 also saw the first product sales from our newly established global distribution network and we are optimistic about the growth in global sales of the Parsortix system, consumables, and assay kits during the current financial year.
I am delighted that 2024 has started strongly with three new contracts with two large pharma customers and we look forward to continuing this commercial momentum in the year ahead.”
My View
It is stated that the Parsortix technology has the potential to deliver profound improvements in clinical and health economic outcomes in the diagnosis and treatment of cancer – if that is so then the £43m valued company’s own potential could be absolutely massive.
It is still at a very early stage in the development of the company and its shares are only for risk-tolerant investors – even so at around the current 14p they could prove to be a worthwhile gamble.