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“Around $300 per 1 use cassette how do we know how they have been doing?”
EC that’s a fair point but I lean towards if sales are healthy why not disclose to mkt to improve valuation.
The valuation is the collateral for a company that presently relies on funding so why not uphold it?
Wouldn’t make sense holding back positive stuff like that in these circumstances
Miavice
And how may CLIA approved labs are using Parsortix to 'test' ALL cancer groups?
@bantham I agree there’s a lack of a documented plan to make this a commercial success. There’s no doubt they’ve struggled to make inroads which is reflected in a repeated trading update downgrades. It’s hard to have any confidence in this years projection which then shortens the runway. As you say, the bigger worry than a raise is a failed raise, hence I’d prefer the former.
Hopefully we get some deal dominoes lined up!
TwoGoodToDie
Obviously it didn't sink in last time because you are still posting the same nonsense (deliberately no doubt).
CLIA approved labs are allowed to use Parsortix to perform laboratory developed tests on ALL cancer types. No need for FDA approval.
I agree TG2D.
I have seen lists of so-called target markets but few seem to last long enough to be reported on. But I have seen no commercial or strategic plan.
IMO - the plan can be summarised as ‘ somewhere over the rainbow skies are blue’.
Bantham
What's frustrating is there is no strategic plan that a) highlights how the business is going to address FDA approval because this is fundamental to any labs buying Parsortix and b) how long this process will take and how much further funding is required by way of cash raises.
If the Board don't address these key points either the business just continues to struggle with more cash raises and subsequently a never ending cycle of share dilution every year or so.
Or
The business reaches a point it needs a bigger player to survive which no doubt means being sold at a price far lower than what share holders would expect. Big Pharma arn't stupid and in no rush to buy a 'may be' rather than a business already with established commercial contracts and a healthy recurring revenue stream.
EC
most machines can only be used for 'research' purposes and the financial results show immaterial revenue generation I expect similar this year.
If I run a lab Parsortix can only be used for breast cancer testing which is 4% of cancers and if I try to run the machine both for research and testing there is a high risk that a lab technician uses the machine to test and issue results to doctors and patients for cancers the Parsortix machine is not FDA approved leading to the potential risk of multi million dollar law suits and associated bad media publicity on the US...
Do you know understand why Parsortix is not selling?
Angle PLC Interim Results for the period ended 30 June 2023.
"-- Installed base of Parsortix(R) systems increased to over 290 with cumulative samples processed of 192,000 as at 30 June 2023."
=============
Over 190 machines as at 30th June 2023.
So almost 9 months ago. How many machines now? How many disposable cassettes now?
Do any of the 50 plus Co's IN THE WORLD that offer DNA analysis of blood want to add the analysis of the Circulating Tumour Cells (CTC's)? Do they want to offer a re-badged Parsortix machine to their clients so they catch the CTC's and do the additional analysis to get the full picture? They should want to as it would increase sales and give their clients all the available information (CtDNA analysis of blood plus DNA analysis of the CTC's = the complete picture).
All IMHO.
Jackbal - agreed on all.
IMO most Board’s would have fired him now for serially raising expectations allied with zero delivery. And he’s burned through £100m if i remember correctly.
But my guess is there is no obvious replacement so this pack of cards stands or falls with him. So i think i know how this might end…..
Around $300 per 1 use cassette how do we know how they have been doing?
I'm sure the shorters on here will come up with something from thin air.
With 190 machines out there in the World a load of cassettes may be being used etc....
All IMHO.
Newlands - how the pompous have fallen.
About a year ago he really thought he should talk about his preference for “types” of investor!!! Even at the time I found that ridiculous
Now I think he would take it from anyone willing to give it to him.
Why did he say publicly he has enough money and this isn’t primarily about money but continue drawing an eye watering salary for a loss making co?
Why draw attention to things like that if your not walking the walk?
Maybe if he does have to call an EGM he should be forced to take his fees in shares as a condition for even more financing?
After all he has enough money so he says
I had same issue earlier when talking aboUt F@g packet calculation!
Bantham (it was me sayin 10p and the fact that a re-org would be required to raise below 10p)
That would require EGM as you say and if they wanted more than 8 million odd that would prob be possible same way.
Everyone involved at any price can only hope that an EGM is not required.
But I do think Newlands must be getting jittery about funding with SP so close to nominal
BTW i didn’t do the asterisks. You can’t even use a word for drinks anymore without automatic censorship!!
jackbal - agreed on that and on the 10p comments others have made.
but i assume that could be handled with an egm maybe??
but i still think the problem isn’t just technical - where smart lawyers and brokers identify technical solutions.
like fevertreeman i think the problem is newland has no commercial traction, has consistently failed to live up to expectations and has zero credibility so no institution will support any of his future fantasies with their cash.
i also suggest that tg2d and ec get together for ****tails - they might find it’s the start of a beautiful relationship. and then we can make a feature film about an improbable romance. that might be the best way of making some money out of this.
Next they will both be telling each other they smell.
Where’s the other posts gone?
Can twogood and EC arrange a good ol fashion straightener please.
All this “reporting” is embarrassing
Bantham they only have a resolution to raise 8 million odd from memory.
Think it was resolution 6 but don’t quote me on it!
Roche or some such their sp will be back to over 30p in 30 mins.............
Angle Plc have the tech to catch circulating tumour cells for analysis. Most of the Companies that currently offer CtDNA blood analysis don't offer the same for the CTC's simply because they do not have a system that can catch the CCTC's, or at least ones that are LIVE, intact and not contaminated by the very system used to catch them!!
Some sort of deals must happen.
All IMHO.
How does the parsortix science fix the balance sheet?
Sorry no punchline just highlighting reality. Equally he can’t raise below 10p so is there one more card up the sleeve to get SP up and soften dilutive impact?
Results in a few weeks everybody - facts will be on the table then.
Couldnt agree more!
Great Sales Advert for Illumina you sure your invested in AGL?.. lol
To guide treatment decisions. As you can read they are using "Illumina technology" to look for "actionable DNA" which can be targeted by modern drugs. See here:-
https://www.bbc.co.uk/news/uk-wales-65377533
and
https://www.bbc.co.uk/news/health-68624334
In Angle's RNS announcements of 4th and 20th January Angle have discovered that both their study (RNS of 4th Jan) AND other previous studies (RNS dated 20th Jan) showed actionable DNA is sometimes found only in the circulating tumour cells (CTC's) and NOT in the blood CtDNA!! Companies like Illumina do not have a system that can catch LIVE intact cancerous tumour cells to analyse. Angle of course do. So what do you thing they will do next???
https://www.youtube.com/watch?v=cnQ6M05BiBY
All IMHO
The plan is...hmmh...hmmmh....wag finger in air.....well if you must ask....£6.6m...and if we don't reach that we have a number of.....'top secret'....'strategic inniatives'......Do any of these include a placement?....well as you ask the question we have 'tapped the market before'....so not really strategic.....bless!