Edison Issues ADR Update on Angle

21 Mar, 2016, 13:37 ET from Edison Investment Research

LONDON, March 21, 2016 /PRNewswire/ --

Today Angle has announced results from a prostate cancer research study carried out by its KOL partner Barts Cancer Institute (BCI). The final data are yet to be published, but headline results indicate that Parsortix can potentially perform as well as or better than current standard of care in terms of detecting early-stage prostate cancer and assessing its severity, and can do so with a simple blood test. While this will require further clinical studies, it represents a likely second clinical application, in which Parsortix can substantially affect the management of cancer patients.

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The results are encouraging and we expect Angle will provide an update on the strategy for prostate cancer in the coming months, which may bring clarity about commercialization. Once that is available, we will review our financial forecasts and the assumptions of our DCF-based valuation which, prior to adjustments for the new developments, is largely unchanged at $137m or $23.2/ADR (currency effect only).


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