Angle Share News (AGL)

(ShareCast News) - There was praise for the progress made by Angle on Monday, in its quest to see one of its existing products used as a diagnostic tool for prostate cancer.The AIM-traded company was the subject of a report by equity advisory firm Edison, which said that while the final data was yet to be published, headline results from the research study carried out by Barts Cancer Institute indicated Parsortix could potentially perform as well as, or better than the current standard of care in terms of detecting early stage prostate cancer.It could also assess its severity, and do so with a simple blood test. Edison warned that the treatment would require further studies, though it represented a second likely clinical application in which Parsortix could substantially affect the management of cancer patients."The results are encouraging and we expect Angle will provide an update on the strategy for prostate cancer in the coming months, which may bring clarity about commercialisation," the report said."Once that is available, we will review our financial forecasts and the assumptions underlying our DCF-based valuation which, prior to adjustments for the new developments, is unchanged at £95m or 161p per share," it added.Angle developed the Parsortix system as a research tool, though it was not currently approved by the FDA for any clinical use. It uses a patented micro-fluidic technology in the form of a disposable cassette to capture and harvest circulating tumour cells from blood.