RE: Proactive investors article23 Jan 2025 08:53
ANGLE PLC (AIM:AGL, OTCQX:ANPCY), the liquid biopsy specialist, said it is heading into 2025 with optimism, bolstered by a growing sales pipeline and improving financials.
In a trading update, the company told investors it expects revenue growth this year to outpace the 31% topline increase seen in 2024 with ANGLE expecting to have booked £2.9 million in revenue for the period.
Cost-cutting measures and its focus on pharmaceutical services have placed the business on a firm footing. Reserves and tax receipts mean ANGLE can access £12.6 million of cash resources before additional sales gross margin contributions. That provides a runway into 2026.
"Phase III clinical trials secured over the medium term would enable the company to move into a cashflow positive position," investors were told.
Chief Executive Andrew Newland remains optimistic about the company’s prospects. "We enter 2025 with confidence that our current large pharma contracts are progressing well and have the potential to lead to larger scale opportunities with the same customers," he said.
ANGLE’s technology, which enables the non-invasive analysis of cancer cells through liquid biopsy, continues to gain traction in what Newland describes as a "growth market."
The company’s focus on pharmaceutical collaborations appears to be paying off. Ongoing contracts with large pharma clients could lead to repeat business and larger-scale deals, while additional opportunities are emerging with new partners.
Financially, ANGLE expects to reduce its loss for 2024 to approximately £14 million, down from £20.1 million in 2023, while maintaining cash flow stability.
ANGLE specialises in using circulating tumour cell (CTC) technology to support research, drug development, and clinical oncology.
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