Edison Issues ADR Update on Angle

Feb 25, 2016, 06:00 ET from Edison Investment Research

LONDON, February 25, 2016 /PRNewswire/ --

Angle has achieved a significant milestone in commercializing its proprietary cell separation system, Parsortix, with first research use sales announced in December. Important development news from its H116 results included Angle's decision to seek FDA approval for Parsortix in breast cancer, which adds the potential for a second major clinical application, and further positive key opinion leader (KOL) evaluations of Parsortix with a third peer-reviewed article accepted for publication. Our DCF-based valuation is largely unchanged at $133m.

     (Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

Our valuation is based on sales of Parsortix for use in research and clinical sales for the pre-surgery triaging of ovarian masses, with no contribution from other potential applications or the technology platform at this stage. Our underlying assumptions for the DCF model are unchanged following the H116 results. Angle's lower net cash position is offset by rolling the model forward in time; therefore, our valuation is largely unchanged at $133m or $22.6/ADS (vs $145m or $24.6/ADS, difference driven largely by exchange rate).

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website http://www.edisoninvestmentresearch.com.

About Edison: We are an international equity advisory firm. We enable our client companies to achieve their capital market objectives. The team is made up of more than 80 analysts and investment professionals with many decades of experience. Our extensive company knowledge and industry expertise spans 10 business sectors and more than 700 listed companies globally. We give our corporate clients and investors privileged insight into global investment trends. Our distribution capability is key to ensuring a global investor audience can access our investment knowledge. Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

 

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:  
LinkedIn  http://www.linkedin.com/company/edison-investment-research
Twitter    http://www.twitter.com/Edison_Inv_Res
YouTube    http://www.youtube.com/edisonitv
Google+    https://plus.google.com/105425025202328783163/posts

For more information please contact:
Jonas Peciulis, Edison Investment Research, +44-(0)20-3681-2527
Christian Glennie, Edison Investment Research, +44-(0)20-3077-5727
healthcare@edisongroup.com

SOURCE Edison Investment Research