ANGLE successfully navigated a number of regulatory and clinical hurdles during 2022, including breakthrough FDA product clearance for Parsortix, and highly positive ovarian cancer data. Key elements are now largely in place to help deliver on Parsortix’s significant potential within the evolving liquid biopsy field. To realise this, ANGLE is pursuing a multi-pronged strategy to make Parsortix broadly available to industry and patients. The near-term focus is on growing the Pharma services business, attracting industry partnerships for downstream analysis, and completion of the remaining LDT development work. Any one of these could be transformational if successfully executed, and together should lead to multiple layers of future revenue growth. Our updated DCF-based valuation is £253m, equivalent to 97p per share.
