CelLBxHealth (AGL) Trading Update summary

Financial performance

• 2024 revenue expected to rise 31% to £2.9 million, up from £2.2 million in 2023.

• Year-end cash position at £10.4 million, with additional R&D tax credits to bring available cash to £12.6 million.

• Loss for 2024 projected to decrease by 30% to approximately £14 million, aligning with guidance.

• Cost base reduced, providing a cash runway into 2026.

• 2025 revenue growth anticipated to exceed 2024, with a strong and growing sales pipeline.

Strategic and operational highlights

• Strategic focus shifted to pharma services, supporting a lower cost base.

• Large pharma contracts progressing well, with potential for expansion and new contracts.

• Phase 3 clinical trials over the medium term could enable a move to cashflow positivity.

• ANGLE is positioned as a differentiated player in the growing liquid biopsy market.

Product and market positioning

• Parsortix® PC1 System enables comprehensive analysis of circulating tumour cells from blood samples.

• Over 100 peer-reviewed publications support the performance of the Parsortix system.

• Commercial focus on clinical services and diagnostic products, including custom assay development and clinical trial testing.

• Services delivered through GCLP-compliant laboratories.