ANGLE PLC's (AIM:AGL, OTCQX:ANPCY) circulating tumour cell (CTC) technology is the 'gold standard' in cancer diagnostics, according to German investment bank Berenberg in a note in which it reiterated its 'buy' recommendation and 70p price target (the shares are 11.28p).
Very simply, the company's Parsortix system is able to not only detect CTCs, a tell-tale sign of the disease, it can also help doctors assess how to treat it using a simple blood draw that provides real-time data on the status of the cancer.
"ANGLE’s Parsortix system is a best-in-class sample preparation technology in a rapidly evolving and clinically significant area of cancer diagnosis (CTC analysis)," said Berenberg in a note to clients.
"We believe that the liquid biopsy market could be worth over $100 billion in the long term, with the Parsortix system positioning ANGLE well to take share.
"We think that the contracts landed so far in 2024 with blue-chip pharmaceutical companies offer strong validation of the technology, and favourable results from the studies should be pivotal to ANGLE’s success."
The bank said it expects more contract news from ANGLE before the year-end.