logo-loader
Advanced Oncotherapy PLC

Advanced Oncotherapy now in a solid position, says research house

AVO is developing a proton beam system that blasts cancer called LIGHT. The initials stand for Linac Image Guided Hadron Technology. The company’s kit is cheaper and smaller than the current units, which are almost prohibitively expensive

proton beam machine
Proton beam equipment in Krakow, Poland, represents the 'old', ungainly and expensive technology

Advanced Oncotherapy PLC’s (LON:AVO) interim results revealed the business had turned a corner, according to research issued by Goetz Partners Securities.

It is now in a solid position financially following the completion of a £40mln financing round that ended the share overhang from its debt-equity facilities.

Cash and equivalents at June 30 were £3.32mln, though this figure excluded £6.41mln raised from investors and a £2.92mln tax credit, which occurred early in the second half.

“The company has managed a major turnaround of its dire financial situation from last year,” Goetz said.

New device LIGHT years ahead?

AVO is developing a proton beam system that blasts cancer called LIGHT. The initials stand for Linac Image Guided Hadron Technology. The company’s kit is cheaper and smaller than the current units, which are almost prohibitively expensive.

It has the ability to propel protons at the speeds generated by much larger machines.

The proton accelerator used by Advanced Oncotherapy was licensed from CERN, the European Organisation for Nuclear Research, which is currently hunting the ‘God particle’.

Last Thursday, investors were told the company’s LIGHT system had passed a major technological milestone with the unit generating proton beams energetic enough to treat superficial tumours.

Commercial traction 

Commercially AVO’s technology is gaining traction. It has inked a distribution agreement with Liquid Harmony for China and other parts of Asia, while discussions are ongoing for sites in the US, Europe, Asia and the Middle East.

Goetz believes the group’s LIGHT technology has a greater potential than next-generation PT cyclotrons cancer killers to replace a significant share of photon linacs currently on the market.

“We feel that cyclotron manufactures have seen their peak a couple of years ago with a limited chance of recovery,” the research house said.

“The replacement power from LIGHT is based on technical superiority, price and easy installment.”

Quick facts: Advanced Oncotherapy PLC

Price: £0.40

Market: LSE
Market Cap: £92.09 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Advanced Oncotherapy PLC named herein, including the promotion by the Company of Advanced Oncotherapy PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tertiary Minerals, Advanced Oncotherapy among Alan Green's 2018 stocks to watch

Brand Communications' Alan Green highlights his small cap stocks to watch in 2018. First on Alan's hit list is Tertiary Minerals (LON:TYM). Tertiary’s share price has been on a good run recently since it announced they'd signed an MoU with global commodities group Possehl to enter...

on 27/12/17

RNS

Second Price Monitoring Extn

2 weeks, 1 day ago

Price Monitoring Extension

2 weeks, 1 day ago

Result of AGM

3 weeks, 6 days ago

Harley Street update

4 weeks, 2 days ago

Final Results

on 28/6/19

2 min read