Angle PLC Announces Trading and Business Update - Seite 2

Business update - Streamlining services business extends cash runway

With the expected growth in molecular solutions requiring investment and considering ongoing adverse market conditions, we have made the decision to streamline our Services operations by closing the US clinical laboratory and focusing on a single UK-based centre of excellence. We have developed solutions for sample stability so that the physical location of the laboratory does not limit its capability to service customers across different geographies. The streamlining will enable us to focus our investment in multiple molecular platforms for different applications in a single location without duplicating these significant costs.

The extension of our molecular capability across multiple molecular platforms will also support product sales to the customers of the installed base of these molecular platforms as it will drive the generation of a stream of clinical evidence of the value of such analysis, the first of which we expect to publish before the year end.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"The build-up of revenues has been slower than hoped but is moving in the right direction and the Company expects strong revenue growth year-on-year. The cost savings from the streamlining of our clinical services business will now extend the forecast cash runway into Q2 2025 and we look forward to progressing the planned launches of new products and services to drive widespread adoption of the Company's Parsortix system to support precision medicine in cancer."

For further information:

ANGLE plc
Andrew Newland, Chief Executive Ian Griffiths, Finance Director	[phone]
Berenberg (NOMAD and Joint Broker) Toby Flaux, Ciaran Walsh, Milo Bonser	[phone]
Jefferies (Joint Broker) Thomas Bective, Shaam Vora, Alexander Ind	[phone]
FTI Consulting