Shares in Angle tumble on gloomy outlook

(Sharecast News) - Shares in Angle plunged on Tuesday, after the AIM-listed biotech warned full-year revenues risked being "significantly" constrained. The firm, a specialist in liquid biopsies used in oncology, said it had faced "multiple headwinds" during the first half.

In particular, it said customers in both the pharmaceutical and medical technological sectors had been hit by limited access to capital, US policy volatility and uncertainty over tariffs.

As result, revenues in the six months to 30 June fell to £0.8m from £1m, missing expectations, while losses widened to £9.3m from £7.7m.

Looking to the rest of the year, the Guildford-based firm said it was in discussions with AstraZeneca, Eisai and other large pharmaceutical companies about new projects.

But it also warned: "Customer delays caused by challenging external conditions...are continuing to cause significant delays to new projects and collaborations.

"If these delays continue throughout the second half then 2025 revenues will be constrained significantly and are expected to be in excess of £1.5m, with revenues shifting into 2026."

As at 1245 BST, shares in Angle were down 28% at 4.11p.

Andrew Newland, chief executive, said: "We have acted decisively to build a strategy for long-term growth while maintaining a sharp focus on cost discipline and operational efficiency, and successfully delivered on our contracts with large pharma.

"Our priority now is to capitalise fully on ongoing discussions with large pharma, large medtech and major healthcare providers.

"Notwithstanding the continued challenging external conditions, we remain confident in Angle's ability to deliver long-term value, advancing cancer diagnostics and treatment worldwide."