Angle Plc Stock Price, News & Analysis

ANGLE plc (AIM:AGL)(OTCQX:ANPCY) has announced the closure of its Toronto operations to streamline costs, saving approximately £2.6 million in 2023 and £4.0 million annually thereafter. The decision follows increasing operational costs in Canada due to currency fluctuations and changes in UK R&D tax credit rules, making UK-based operations more cost-effective. ANGLE plans to centralize R&D in Guildford, UK, without significant impact on ongoing operations. A one-off closure cost of £0.5 million is expected, but the move extends the company's cash runway into H2 2024.

On October 14, 2022, ANGLE plc announced a TR-1 notification revealing a change in voting rights as Aegon NV crossed a key threshold. As of October 12, Aegon holds 3.77% of voting rights attached to shares and 0.22% through financial instruments, totaling 3.99%. This marks a slight decrease from the previous position of 4.02%. The information indicates increased scrutiny of significant shareholders and their influence on company governance.

ANGLE plc (OTCQX:ANPCY) has entered a distribution agreement with Promedeus to roll out the Parsortix system in the Czech Republic, targeting metastatic breast cancer. This partnership capitalizes on Promedeus's experience in advanced medical equipment distribution and oncology sector knowledge. The Parsortix system, which is FDA cleared and CE marked, enables non-invasive harvesting of circulating tumor cells from blood. ANGLE anticipates similar deals in other territories as it expands its market presence.

ANGLE plc announced a significant change in its share ownership as a major stakeholder, Aegon NV, crossed the voting rights threshold of 3.80% on September 28, 2022. This acquisition increases Aegon's holdings to a total of 10,467,539 voting rights, reflecting 4.02% when considering voting rights from financial instruments. The notification was filed with the relevant authorities on September 29, 2022.

ANGLE plc has announced the issuance of 8,333 new ordinary shares following the exercise of employee options. This occurs in the context of their ongoing operations as a leader in liquid biopsy technology. The new shares will rank equally with existing shares, increasing the total number of ordinary shares to 260,498,881. The London Stock Exchange is set to admit these shares for trading starting October 5, 2022. This increase does not signify a direct financial challenge; however, it may indicate dilution for existing shareholders.

ANGLE plc (OTCQX:ANPCY) announced successful results from its ovarian cancer clinical verification study, highlighting the effectiveness of the Parsortix blood test in distinguishing between benign and malignant pelvic masses. The study achieved an ROC-AUC of 95.4%, indicating excellent accuracy, with a sensitivity of 90% and specificity of 93%. These results are a significant enhancement over traditional methods, with the potential to reduce false positives and negatives by over 50%. ANGLE plans to commercialize this assay for ovarian cancer, further solidifying its positioning in the liquid biopsy market.

ANGLE plc announced its interim results for the six months ending June 30, 2022. Key highlights include FDA De Novo clearance for the Parsortix system, marking a significant advancement for cancer cell analysis. Revenue increased to £0.4 million, despite a loss of £9.2 million, attributed to planned investments. The company has established a partnership with Solaris Health for prostate cancer studies and showcased positive ovarian cancer results with a ROC-AUC of 95.4%. A fundraising initiative raised £20.1 million post-period end.

ANGLE plc has announced significant findings from a study conducted by the University of Birmingham on head and neck squamous cell carcinoma (HNSCC), showcasing the utility of circulating tumor cells (CTCs) in determining the epithelial-mesenchymal transition (EMT) status. The study revealed that 65% of treatment-naïve patients had detectable CTCs, with 77% undergoing EMT, correlating with advanced disease stages. The findings suggest that CTC EMT biomarkers may serve as complementary tools to traditional tumor biopsies, potentially improving patient outcomes in targeted therapy.

ANGLE plc presented a new poster at the 100th American Society for Clinical Pathology (ASCP) meeting, showcasing a novel application of the Pap stain technique to analyze circulating tumor cells (CTCs) harvested using the Parsortix system. This method, which could easily be integrated into standard pathology workflows, was recognized as a finalist for a prestigious Blue Ribbon award. The findings indicate that patient sample CTC analysis can be reliably conducted, aiding in clinical assessments of cancer patients, particularly those in remission.