Angle PLC Edison issues ADR update on Angle
August 02 2016 - 9:37AM
RNS Non-Regulatory
TIDMAGL
Angle PLC
02 August 2016
London, UK, 2 August 2016
Edison issues ADR update on Angle (ANPCY)
Recent newsflow from Angle and the FY16 report released last
week showed progress in developing and commercializing the liquid
biopsy diagnostic system Parsortix. The R&D strategy is
progressing, with the ovarian cancer trials recruiting first
patients in the US and Europe and on track to deliver data around
end-2016, while the first research use sales met our expectations
and a new large client is on board. Our updated valuation of Angle
is $171m (vs $136m previously).
We have revised our valuation of Angle and now include
metastatic breast cancer and prostate cancer applications in
addition to our previous DCF-based valuation of Angle's core
operations and ovarian cancer application. We calculate the two new
applications add $20m to Angle's valuation. Following strong news
flow in recent months, ramp-up of R&D activities and initial
sales meeting our expectations, we increase our valuation to $171m
(from $136m) or $23/ADR.
Click here to view the full report.
All reports published by Edison are available to download free
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