Interview: Angle posts 'deliberate loss' as it gathers evidence of Parsortix's efficacy

24 July 2015

Specialist cancer diagnostic medtech company Angle PLC (AIM: AGL) says its loss for the financial year was “deliberate” as it posted a loss from continuing operations of £3.9 million ($6 million).

The company said it had strengthened its financial position following the successful fundraising of £8.2 million net of expenses and that it would use this to continue the investment to advance drive and adoption of its Parsortix system.

“It’s a deliberate loss because we’re spending money on proving how the system works. We just raised more money in order to try to increase the loss, which is needed to get patient studies done in ovarian cancer. That’s a large market, worth £300 million a year,” Andrew Newland, chief executive of Angle, told The Pharma Letter.

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