30th Sep 2021 11:07
(Alliance News) - Angle PLC on Thursday reported a widened loss in the first half of 2021, reflecting planned investment as it awaits a key decision from the US Food & Drug Administration, expected this year.
Guildford-based Angle is developing a product called Parsortix, equipment that detects cancer in blood samples. The company also offers pharmaceutical services at its laboratories.
Revenue increased 26% to GBP296,000 from GBP235,000. Its pretax loss widened to GBP8.7 million from GBP4.4 million.
Shares in Angle were up 2.6% to 131.88 pence in London on Thursday morning.
The company continues to expect a decision from the FDA in the second half of 2021, even after "previous communication with FDA indicated a potential delay to their review processes".
Angle filed for FDA approval of Parsortix in metastatic breast cancer patients in September 2020 and is trialling the equipment for other types of cancer. Results from an ovarian cancer trial also are expected this year.
As the FDA decision nears, Angle has "intensified" talks with large, global healthcare companies to form a distribution and sales partnership.
By Ivan Edwards; [email protected]
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