Edison Issues ADR Update on Angle

May 27, 2016, 10:46 ET from Edison Investment Research

LONDON, May 27, 2016 /PRNewswire/ --

Angle has raised net $14.1m (£9.6m) via a private placing. This supports Angle's focus on commercializing Parsortix, with the funds being applied to a range of clinical studies to demonstrate utility of Parsortix. Additionally, Angle announced that Cancer Research UK Manchester Institute is adopting Parsortix for routine research use, which will provide recurring sales. FY16 results in July will provide a trading update and more details on the R&D expansion strategy, likely to be scaled up with the benefit of the fund raising.

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

We will review our forecasts and valuation after the FY16 results in July. We see the private placement as a first step towards initiating clinical trials with new indications, giving scope for future valuation uplift (albeit diluted by the new shares for now).

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: Edison is an international equity research firm with a team of over 110 analysts, investment and roadshow professionals and works with both large and smaller capitalised companies, blue chip institutional investors, wealth managers, private equity and corporate finance houses to support their capital markets activity. Edison provides services to more than 420 retained corporate and investor clients from offices in London, New York, Frankfurt, Sydney and Wellington. 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.

For more information please contact: 

Jonas Peciulis
Edison Investment Research
+44-(0)20-3077-5728

Lala Gregorek
Edison Investment Research
+44-(0)20-3681-2527

healthcare@edisongroup.com

Contact details: Learn more at http://www.edisongroup.co 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

SOURCE Edison Investment Research