StockMarketWire.com - ANGLE's loss for the year ended 30 April rose to £6.4m - up from £5.1m last time.

AMGLE said this reflected planned investment to advance clinical evidence through patient studies, FDA regulatory clearance and investment in marketing to drive adoption of Parsortix in research institutions.

Revenues increased to £0.5m (2016: £0.4m) and a successful fundraising from major institutional investors raised £10.2m (£9.6m net of expenses).

Non-executive chairman Garth Selvey said: "ANGLE has made significant progress in its strategy towards commercialisation of Parsortix.

"Importantly, it recently announced positive results from two independent studies (c. 200 patients each) that highlighted the potential of the Parsortix system to facilitate the detection of ovarian cancer pre-surgery in women with high risk pelvic masses.

"Following optimisation of the Parsortix-based pelvic mass assay, the Company will validate the assay in a further, appropriately powered clinical validation study, with the goal of achieving regulatory clearance and subsequent commercialisation of this assay in Europe and the US.

"Work on the pivotal clinical study in metastatic breast cancer is ongoing, with study results expected in H1 2018.

"The primary goal is to generate data that will support an FDA submission for use of the Parsortix system in harvesting cancer cells from metastatic breast cancer patients for subsequent evaluation.

"With its differentiated competitive position, the growing body of clinical evidence and increasing research use, ANGLE is consolidating its position as a leading player in liquid biopsy; a potential multi-billion dollar market that is expected to revolutionise cancer care."






At 9:38am: [LON:AGL] Angle PLC share price was -4.5p at 48.5p



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