Angle slumps on cautious outlook

(Sharecast News) - Shares in Angle tanked on Wednesday after the cancer treatment tech group delivered a cautious outlook, pointing to only "modest" growth compared with the 31% surge in revenues seen in 2024. The company, whose technology harvests circulating tumour cell (CTC) from the blood for analysis, reported strong annual results for last year, with revenues jumping to £2.9 from £2.2m in 2023, while losses shrank by 29% to £14.2m.

However, in its outlook statement, Angle said that recent market turbulence, the uncertain macro environment and further reductions to research funding across academic and government labs has "adversely impacted the company's year-to-date revenues".

Discussions are progressing with existing and new large pharma customers and medtech diagnostics companies, but it is unclear when these opportunities will convert to revenues.

"We have multiple large opportunities actively under discussion. However, these are binary in nature and their timing is uncertain. Modest growth in 2025 revenues compared to 2024 is anticipated and there is the potential, dependent on the large opportunities under discussion, for this to be exceeded," the company said.

Shares were down 17% at 8.11p by 1108 BST.