25th Jun 2020 12:22
(Alliance News) - Angle PLC on Thursday said it is progressing towards commercialisation of its cancer drugs.
The liquid biopsy company reported revenue of GBP581,000 for the eight months to the end of December 2019 compared to GBP678,000 revenue recorded in the year to the end of April 2019.
Angle's accounting reference date has changed from April 30 to December 31, it explained.
Pretax loss was GBP7.7 million and GBP10.9 million, respectively.
During the period, the company said it progressed multi-year comprehensive clinical and analytical studies in support of US Food & Drug Administration clearance of the Parsortix system for capturing and harvesting circulating tumour cells from metastatic breast cancer patients.
In addition, the company said its full De Novo US FDA submission is in preparation.
"The full De Novo FDA submission is in preparation so that this can be rapidly submitted once the remaining analytical samples needed to meet the requirements identified in the January meeting with FDA are available and have been analysed," said Non-Executive Chair Garth Selvey.
"These samples were delayed by the Covid-19 restrictions preventing the recruitment of healthy volunteer blood donors but work is now back in progress and the FDA submission is expected to be made in the third quarter of 2020," added Selvey.
AIM-listed Angle shares were trading 0.9% lower in London on Thursday at 58.99 pence each.
By Evelina Grecenko; [email protected]
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