Business
Interim Results for the period ended 30 June 2023
Interim Results for the period ended 30 June 2023.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n\n\n\n\n\nFor Immediate Release\n\n\n7 September 2023\n\n\n\n\n \nANGLE plc\n(\"ANGLE\" or \"the Company\")\n \nInterim Results for the six months ended 30 June 2023\n \nBUILDING COMMERCIAL MOMENTUM DELIVERS REVENUE GROWTH \n \nCash runway extended into Q1 2025\n \n \nANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumor cell (CTC) diagnostic solutions for the research and diagnostic oncology market, today announces its unaudited interim financial results for the six months ended 30 June 2023.\n \nFinancial Highlights\n \n· Revenues for the half-year trebled to £1.2 million (H1 2022: £0.4 million)\n- product-related revenue £0.8 million (H1 2022: £0.3 million)\n- services-related revenue £0.4 million (H1 2022: £0.1 million)\n- services-related sales of up to £2.5 million have already been made for revenues in future periods\n \n· Loss for the half-year £9.8 million, or 3.77 pence per share (H1 2022: loss £9.2 million, or 3.92 pence per share)\n \n· Focus on near term opportunities and deferral of some longer-term growth objectives generates c. £5 million of cash savings by end of 2024 extending cash runway into Q1 2025\n \n· Cash and cash equivalents at 30 June 2023 of £22.2 million (30 June 2022: £20.5 million). R&D Tax Credits due at 30 June 2023 of £3.7 million (30 June 2022: £5.9 million)\n \n \nOperational Highlights\n \nPharma services\n \n· Contracts signed with new and repeat customers including \n- new contract with Crescendo Biologics to use ANGLE's Portrait Flex assay in a Phase 1 clinical study in prostate cancer\n- follow-on contract with Artios Pharma for use of DNA Damage Repair (DDR) assay in a Phase 1 clinical study in multiple advanced cancers\n \nProducts\n \n· Global distribution network established across Europe, the Middle East and Asia Pacific with work progressed on distributor training and maintenance and support infrastructure\n \n· Installed base of Parsortix® systems increased to over 290 with cumulative samples proc...