StockMarketWire.com - Angle reported wider first losses in the first half of the year after a jump in revenue was offset by rising costs as the company ramped up investment to develop its liquid biopsy system.

For the six months ended 31 October 2019, pre-tax losses widened to £6.3m from £5.04m on-year, while revenue jumped to £410K from 273K.

Operating costs swelled to £6.7m for the half from £5.3m as the company ramped up investment in studies to develop and validate the clinical application and commercial use of its Parsortix system.

'Major progress was made during the period in the completion of the clinical and analytical studies to support FDA clearance of the company's Parsortix system in metastatic breast cancer,' Angle said.

'Following the Q-Submission meeting earlier this month with FDA, we are now progressing a full De Novo FDA Submission in the first quarter of 2020with the prospect of FDA clearance in the third quarter, albeit the outcome and timing of the FDA regulatory decision is entirely dependent on the FDA's review and response to the company's submission,' it added.

At 10:07am: [LON:AGL] Angle PLC share price was 0p at 73p



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