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Commercialization building with large pharma contracts secured Further progress on next generation sequencing assays for DNA dual analysis of CTC-DNA and ctDNA GUILDFORD, UNITED KINGDOM / ACCESS Newswire / May 28, 2025 / ANGLE plc (AIM:AGL)(OTCQX:ANPCY), a world-leading liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, today announces its audited preliminary results for the year ending 31 December 2024. Financial Highlights Revenues for the year up 31% to £2.9 million (FY23: £2.2 million) Business re-shaped and streamlined with major focus on large pharma Operating costs for the year reduced by 27% to £16.9 million (2023: £23.3 million) Loss for the year reduced by 29% to £14.2 million, or 4.82 pence per share (FY23: loss £20.1 million, or 7.73 pence per share) Fundraise completed in June 2024 raising £9.3 million (gross) Cash and cash equivalents balances of £10.4 million at 31 December 2024 (31 December 2023: £16.2 million), and R&D tax credit receipts of £1.4 million (received Q1 2025) and £0.9 million (receipt expected Q3 2025) Operational Highlights Execution of our large pharma strategy resulted in four services agreements Product sales were adversely affected by the introduction of FDA regulation of laboratory developed tests (LDTs) coupled with a broader global slowdown in research funding Progress made developing next generation sequencing (NGS) assays using Illumina and NuProbe kits for DNA dual analysis of CTC-DNA and ctDNA from a single blood sample, opening access to a new market opportunity Twelve peer-reviewed scientific papers were published in 2024, bringing the total number of publications to 104 from 42 independent research centres Outlook The three existing agreements with large pharma for Eisai and AstraZeneca have been successfully completed, establishing a foundation for future collaborations with large pharma: excellent results of ANGLE's HER2 assay in Eisai's Phase 2 breast cancer trial demonstrating ability to reliably measure changes in HER2 patient status over time and now in discussion with BlissBio regarding potential next steps successful completion of both AstraZeneca assay development contracts with both the Androgen Receptor (AR) assay for prostate cancer and DNA damage response (DDR) assay for multiple cancers approved by AstraZeneca for use in its clinical trials.
