Trinity Delta Lighthouse: ANGLE
Trinity Delta view: May’s FDA clearance was a major validation of Parsortix’s utility; with numerous further studies endorsing its value as a diagnostic in multiple tumour settings. Management’s challenge is addressing these wide-ranging potential uses in a systematic, effective, and efficient manner. H122 results highlight the strategy to address a variety of distinct diagnostic segments, with both near- and longer-term objectives, is gaining momentum. The recent £18.9m equity raise removes near-term financial uncertainty. We value ANGLE at £506m ($658m), equivalent to 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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