ANGLE plc announces unaudited preliminary results for the year ended 31 December 2023.
- Preliminary Results for the year ended 31 December 2023
- COMMERCIALISATION BUILDING, WITH REVENUE MORE THAN DOUBLED
- New products and services launched; and breakthrough studies completed on combined ctDNA and CTC-DNA analysis
- Strong start to 2024 with two global pharmaceutical customers announced
GUILDFORD, SURREY / ACCESSWIRE / June 5, 2024 / ANGLE plc (AIM:AGL)(OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) diagnostic solutions for use in research, drug development and clinical oncology, today announces unaudited preliminary results for the year ended 31 December 2023.
Financial Highlights
- Revenues for the full year more than doubled to £2.2 million (2022: £ 1.0 million)
- Loss for the year £20.1 million, or 7.73 pence per share (2022: loss £21.7 million or 8.79 pence per share)
- Cash and cash equivalents at 31 December 2023 of £16.2 million (2022: £31.9 million) with R&D Tax Credits due at 31 December 2023 of £1.5 million (2022: £2.9 million)
- Fundraise announced today raising £8.50 million (gross) with an Open Offer to shareholders initiated raising up to £2.06 million
Operational Highlights
Pharma Services
Contracts signed with new and repeat customers including:
- services agreement signed at year end and announced early 2024 with global Japanese pharma company, Eisai, for use of ANGLE’s quantitative HER2 assay in a Phase II trial
- new contract with Crescendo Biologics to use ANGLE’s Portrait Flex assay in a Phase I clinical study in prostate cancer
- follow-on contract with Artios Pharma for use of DNA Damage Response (DDR) assays in a Phase I clinical trial in multiple advanced cancers
- Launch of Portrait Flex, Portrait DDR (?H2AX and pKAP1), and Portrait PD-L1 assays from the Company’s GCLP-compliant laboratory
Products
- Expansion of global distribution network and associated infrastructure (including product management, logistics, service, and maintenance) across Europe, Africa, the Middle East and Asia-Pacific with first commercial sales in fourth quarter
- Launch of Portrait+ CTC Staining Kit as first sample-to-answer product providing laboratories with a fully validated, standardised protocol for CTC identification and analysis across multiple cancer types
- Strategic partnership with BioView to develop a quantitative breast cancer CTC HER2 assay kit. Development work generating revenue for ANGLE of £1.2 million
- Installed base of over 290 Parsortix® instruments with 210,000 cumulative samples processed at year end
Content (applications)
16 peer-reviewed scientific papers published in 2023 bringing the total number of peer-reviewed publications as at 31 December 2023 to 92 (2022: 76)
Good progress made in clinical studies:
- recruitment on track in INFORM study across four major cancer types building a biobank of samples for assay development and validation
- recruitment in ovarian and prostate cancer studies completed and Parsortix cell harvest stored for future molecular analysis
Development of a dual analysis solution for comprehensive DNA molecular analysis of CTCs and ctDNA from a single blood sample:
- research study results found that clinically relevant DNA variants were identified in CTCs that were not present in ctDNA f
