Angle PLC Announces Interim Results for the Period Ended 30 June 2023 - Seite 2

• Board strengthened for the next phase of the Company's development with the appointment of a new Non-executive Chairman and two new Non-executive Directors
• Senior management team strengthened with the appointment of highly experienced, commercially focused industry professionals in the positions of Chief Commercial Officer and Chief Scientific Officer

Outlook

• Pipeline for products and services businesses building well and H2 2023 expected to continue the strong momentum seen in the first half, delivering revenue in-line with market expectations for the full year
• Headline results from the Company's major clinical studies expected by the year end demonstrating key clinical applications of the Parsortix system for patient care
• Careful control of costs and deferring some discretionary expenditure expected to deliver cash ahead of forecast at the year end and extend cash runway into Q1 2025 without impacting revenues over the next 24 months

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"Encouraging progress was made on multiple levels during the half-year. This was reflected in the beginnings of the post-FDA anticipated revenue ramp delivering revenues trebled year-on-year. Major efforts have been focused on both the products and services commercialisation channels and on the development of "content" in terms of applications for which customers can use the Parsortix system.

The management team has been broadened to drive commercialisation with the appointment of highly experienced Chief Commercial and Chief Scientific Officers and, following a detailed review, resources have been focused to maximise commercialisation and extend the cash runway into Q1 2025.

In the second half, momentum is expected to accelerate further as major streams of work to demonstrate analysis of Parsortix CTC harvests utilising major third-party molecular systems are completed generating new large scale revenue opportunities."

Details of analyst meeting and webcast
A meeting for analysts will be held at 11:00 am today at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD.

A live webcast of the analyst meeting can be accessed via ANGLE's Investor Centre page, https://angleplc.com/investor-relations/corporate-presentations/, with Q&A participation for analysts. Please register in advance and log on to the webcast approximately 5 minutes before 11:00 am on the day of the results. A recording of the webcast will be made available on ANGLE's website following the meeting.