Trinity Delta Lighthouse: ANGLE
Trinity Delta view: FDA clearance of the Parsortix system in mBC has been a clear focus for many investors. Achievement of this gold standard validation could transform ANGLE, with a potential near-term acceleration in revenues from the Pharma Service business, in which we see significant value. Longer-term, this could also drive revenues in mBC. We continue to believe ANGLE is well positioned to capitalise on growing recognition of the utility of CTC analysis in investigating protein markers on cancer cells, without the limitations of ctDNA (circulating tumour DNA) liquid biopsy (inapplicable to proteins) or tissue biopsies (unsuitable for longitudinal monitoring). We value ANGLE at £506m ($658m), or 215p/share with significant upside once Parsortix’s positioning becomes clearer.ANGLE is a holding company. Through its subsidiares, Co. operates as a medical diagnostic company focusing on the development of products in the fields of cancer diagnostics and foetal health. Co. develops products for use in rare cell diagnostics that enable early identification of an individual's condition for the prevention, treatment, and monitoring of disease. Co.'s principal trading activity is undertaken in relation to the development and commercialization of the Parsortix cell separation system, with deployment in liquid biopsy (non-invasive cancer diagnostics).
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