Angle PLC Announces Interim Results

September 09, 2025 at 02:01 AM EDT

ANGLE plc

("ANGLE" or "the Company")

Interim Results for the six months ended 30 June 2025

COMMERCIALISATION PROGRESSED ACROSS MULTIPLE FRONTS DESPITE REVENUE PRESSURE FROM ADVERSE MARKET CONDITIONS

Large pharma contracts completed successfully

DNA Dual Analysis Illumina NGS assay for CTC-DNA and ctDNA developed

GUILDFORD, SURREY / ACCESS Newswire / September 9, 2025 / ANGLE plc (AIM:AGL)(OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, today announces its unaudited interim results for the six months ended 30 June 2025.

Financial Highlights

Revenues for the half-year of £0.8 million (H1 2024: £1.0 million)
- pharma services related revenue £0.3 million (H1 2024: £0.5 million)
- product-related revenue £0.5 million (H1 2024: £0.5 million)
- revenues impacted by challenging macro issues including US policy volatility / tariff uncertainty
Loss for the half-year at £9.3 million, or 2.87 pence per share (H1 2024: loss £7.7 million, or 2.89 pence per share) which includes non-cash foreign exchange movements. Total comprehensive loss for the half year is reduced by 9% to £7.2 million (H1 2024: £7.9 million)
Operating costs excluding non-cash foreign exchange movements reduced by 12% to £8.0 million (H1 2024: £9.1 million)
Cash and cash equivalents at 30 June 2025 of £5.3 million (31 December 2024: £10.4 million). R&D Tax Credits due at 30 June 2025 of £1.3 million (31 December 2024: £2.3 million) with receipts of £1.0 million expected shortly. Cash runway extends into Q1 2026 as announced with results in May 2025

Operational Highlights

Three contracts with large pharma companies, Eisai and AstraZeneca, have been successfully completed demonstrating the value of ANGLE's CTC solutions in this market
Discussions are ongoing with AstraZeneca, Eisai and other large pharma regarding other new projects building on this success
Excellent results were achieved by ANGLE's HER2 assay in Eisai's Phase 2 breast cancer trial, demonstrating its ability to reliably track changes in HER2 patient status over time. The HER2 assay and the AR and DDR assays developed for AstraZeneca are all now available on ANGLE's menu of validated tests for other large pharma customers
Ongoing services agreement with biopharma company, Immatics, is progressing well with ANGLE providing CTC enrichment across three clinical trials including a Phase 3 study in melanoma
Parsortix system workflow developed using Illumina Next Generation Sequencing (NGS) cancer panels for DNA dual analysis of CTC-DNA and ctDNA from a single blood sample. This unique capability, offered exclusively by ANGLE, opens major new markets by providing a product solution for existing Illumina NGS customers and a key enhancement for pharma companies and healthcare providers undertaking ctDNA analysis
Ground-breaking research enabled by the Parsortix^® system was published in Nature Medicine leading to spin-out company developing a novel class of drugs to arrest cancer metastasis, in which the Parsortix system is expected to play a pivotal role
Eleven peer-reviewed scientific papers were published in the six months, bringing the total number of publications to 115 from 45 independent research centres

Outlook

Customer delays caused by challenging external conditions, including limited access to capital, US policy volatility, and uncertainty over tariffs for both pharma and medtech companies, are continuing to cause significant delays to new projects and collaborations. If these delays continue throughout H2 then 2025 revenues will be constrained significantly and are expected to be in excess of £1.5 million, with revenues shifting into 2026
The revenue delays have not materially impacted on the cash runway, which with tax credits and tight cost control, provide the Company with working capital into Q1 2026 ahead of which we expect to announce further contracts / collaborations and commercial progress
Post the period end, a large medtech company collaboration has been secured with Myriad Genetics to transfer an existing tissue-based cancer test to a CTC-based sample using the Parsortix system. The Myriad tissue-based assay is FDA approved as a companion diagnostic and is well-established with a substantial commercial base, which as a CTC-based assay could deliver substantial clinical revenues for ANGLE
ANGLE has a pipeline of opportunities with multiple large medtech and large pharma companies and expects to announce a number of new high-profile collaborations / contracts in the coming months. Opportunities under discussion include new large pharma contracts, new large medtech collaborations, and partnerships with downstream analysis companies marrying their DNA molecular solutions and protein analysis solutions to a Parsortix CTC sample
Encouraging discussions progressing with the UK NHS in relation to establishing major clinical studies to formally assess the clinical benefits of analysing CTCs using the Parsortix system with a view to clinical adoption as part of the NHS 10 Year Health Plan

ANGLE Chief Executive, Andrew Newland, commented:

"We have acted decisively to build a strategy for long-term growth whilst maintaining a sharp focus on cost discipline and operational efficiency and successfully delivered on our contracts with large pharma. Our agreement with Myriad Genetics marks a potentially transformational step towards the large-scale commercialisation of the Parsortix system, providing a pathway to CTCs being adopted into routine clinical use. Our priority now is to capitalise fully on ongoing discussions with large pharma, large medtech, and major healthcare providers. Notwithstanding the continued challenging external conditions, we remain confident in ANGLE's ability to deliver long-term value, advancing cancer diagnostics and treatment worldwide."

Details of webcast

A meeting for analysts will be held virtually at 11:00 am BST today. The live webcast of the analyst meeting can be accessed via ANGLE's Investor Centre page, https://angleplc.com/information-for-investors-angle-plc/corporate-presentations/, with Q&A participation reserved for analysts only. Please register in advance and log on to the webcast approximately 5 minutes before 11:00 am on the day of the results. A recording of the webcast will be made available on ANGLE's website following the results meeting.

For further information:

ANGLE plc Andrew Newland, Chief Executive Ian Griffiths, Finance Director	+44 (0) 1483 343434
Cavendish (NOMAD and Broker) Geoff Nash / Isaac Hooper Sunila de Silva (Corporate Broking) Nigel Birks - Life Science Specialist Sales	+44 (0) 20 7220 0563
FTI Consulting Simon Conway, Ciara Martin, Sam Purewal Matthew Ventimiglia (US)	+44 (0) 203 727 1000 +1 (212) 850 5624

For Frequently Used Terms, please see the Company's website on https://angleplc.com/investor-relations/glossary/

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the EU Market Abuse Regulation (596/2014). Upon the publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

These Interim Results may contain forward-looking statements. These statements reflect the Board's current view, are subject to a number of material risks and uncertainties and could change in the future. Factors that could cause or contribute to such changes include, but are not limited to, the general economic climate and market conditions, as well as specific factors including the success of the Group's research and development activities, commercialisation strategies, the uncertainties related to clinical study outcomes and regulatory clearance, obtaining reimbursement and payor coverage, acceptance into national guidelines and the acceptance of the Group's products and services by customers.

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SOURCE: ANGLE plc

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