29th Jan 2015 10:14
LONDON (Alliance News) - ANGLE PLC Thursday posted a widened pretax loss for its first half as it continued to invest in its circulating tumour cell harvesting technology platform Parsortix.
The company said that it is now processing its first clinical application in ovarian cancer, after it saw positive patient study results for its Parsortix system from the Medical University of Vienna.
In the half year to end-October the company posted a pretax loss of GBP1.6 million, widened from a pretax loss of GBP476,000 a year before, as revenue declined to GBP288,000 from GBP414,000 and operating costs rose as it continued to invest in Parsortix.
Parsortix has been granted a CE Mark for clinical sales in the EU, and the company is currently seeking clearance from the US Food and Drug Administration.
ANGLE said that it has deliberately held back on sales of Parsortix to instead focus on gathering feedback from what it calls "key opinion leaders" in the medical research community. After getting positive evaluations from five of these opinion leaders, it now plans to progress sales of the product for research use.
Following the half year end, the company inked a commercial collaboration with a pharmaceutical company and with EKF Diagnostics Holdings PLC to investigate the combination of Parsortix with EKF's PointMan DNA enrichment technology.
Shares in ANGLE are trading down 0.1% at 71.42 pence Thursday morning, having earlier fallen to 69.00p.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
AngleEkf Diagnostics