Trinity Delta view: Despite significant progress during 2022, including the FDA clearance of Parsortix and the highly positive ovarian cancer data, broader market headwinds dictate a more cautious stance into 2023. These challenging conditions have led to increased focus on cost control at ANGLE’s potential partners and customers, causing delays in commercial uptake. Consequently, revenues are unlikely to accelerate as rapidly as previously anticipated. Regardless of these external factors, ANGLE remains confident in its commercial strategy to make Parsortix broadly available to industry and patients, which is focused on three key areas: pharma services, corporate partnerships, and a product-led business (either directly or via distributors). We suspend our valuation and forecasts for ANGLE pending a review of our financial model.
