Angle PLC Announces Interim Results for the Period Ended 30 June 2023

Interim Results for the six months ended 30 June 2023

BUILDING COMMERCIAL MOMENTUM DELIVERS REVENUE GROWTH

Cash runway extended into Q1 2025

GUILDFORD, SURREY / ACCESSWIRE / September 7, 2023 / ANGLE 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.

Financial Highlights

• Revenues for the half-year trebled to £1.2 million (H1 2022: £0.4 million)
  • product-related revenue £0.8 million (H1 2022: £0.3 million)
  • services-related revenue £0.4 million (H1 2022: £0.1 million)
  • services-related sales of up to £2.5 million have already been made for revenues in future periods
• 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)
• 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
• 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)

Operational Highlights

Pharma services

• Contracts signed with new and repeat customers including
  • new contract with Crescendo Biologics to use ANGLE's Portrait Flex assay in a Phase 1 clinical study in prostate cancer
  • follow-on contract with Artios Pharma for use of DNA Damage Repair (DDR) assay in a Phase 1 clinical study in multiple advanced cancers

Products

• Global distribution network established across Europe, the Middle East and Asia Pacific with work progressed on distributor training and maintenance and support infrastructure
• Installed base of Parsortix® systems increased to over 290 with cumulative samples processed of 192,000 as at 30 June 2023

Content (applications)

• Prostate cancer clinical study patient enrolment complete and breast cancer HER2 assay development progressing well
• Portrait Flex proprietary EMT assay established in ANGLE clinical laboratories and Portrait+ imaging assay kit under development for sale as a product
• Encouraging results from major development effort in progress using third-party molecular platforms with Parsortix harvests
• Eight peer-reviewed publications published during the half-year, bringing the total Parsortix publications to 84 from 35 independent cancer centres

Corporate Highlights