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Jackbal.
Now the Parsortix PC-1, the version that is authorised for use by the FDA in the United States for catching Breast Cancer circulating tumour cells for analysis for has been available since roughly September 2022 I think we should get some sales figures in the next results. I think the PC-1 versions are about $50,000 each? Although the RNS to say the FDA clearance was dated 25/05/2022 obviously the paperwork with the machine etc. would have taken some months to sort out so I'm assuming September 2022 was when they became available. That would be very roughly 18 months on the market.
https://angleplc.com/the-parsortix-pc1-system/
Also the amount of cassettes sold would be good (@around $300 each). These are used both with the PC-1 version and the PR-1 version which is for research only. This version costs about $40,000 as I understand it.
The results which should be around 25th April should be extremely interesting. News of some sort of deal with one of the CtDNA analysis Co's would be greatly appreciated!! Also sales of the new assays will be interesting and of course news on the HER2 contract with Bioview which could involve a tie up with a large Pharma Co...................
All IMHO.
EC.
You only get cassette sales, when you get volume demand, which follows 'testing' demand, which follows demand for a fully FDA approved testing machine.
You'll still get demand for cassettes, but far lower volumes, and hence revenues, where Parsortix is only being used for 'research' purposes.
And therein lies the dilemma!
EC.
A good point for a change.
"EC that’s a fair point but I lean towards if sales are healthy why not disclose to mkt to improve valuation"
You would expect with any business trading updates to include rolling out of Parsortix into different markets both USA, UK, and globally...yet to date radio silence!
I would have thought a single slide in January's Investor Meet would have been helpful showing the road to breakeven, timescales, milestones in terms of projected product volume sales and expectations on future revenue growth and earnings expectations.
So why not Newland most normal businesses would do this for existing and prospective investors, why the silence, what you hiding?
Clearly an unsupported £6.6m (trebling current revenues) with what appears to be no plan to support is either far fetched at best or at worse derisory and a blatant mis guidance to investors keen to learn more.
“Only very important information which might affect the bottom line is announced in RNS's between the results.”
I don’t follow. What are saying?
Cassette sales are important
Cassette sales are not important?
Miavoce.
“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
=================================================
That sort of information is only disclosed in the results which should be around 21/4/2024.
Only very important information which might affect the bottom line is announced in RNS's between the results.
Don’t want to be too neggy after all
I did add yday!
Good to see blue, hoping I don’t get chance to buy more at 12.5 and under.
“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.
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…..
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.