ANGLE plc, a liquid biopsy company specializing in circulating tumor cell (CTC) diagnostic solutions, has provided a trading and business update. The company expects revenue recognized for 2023 to be approximately £2.2 million, a 120% increase from the previous year. Sales secured in 2023 are expected to be around £3.3 million, with some revenue recognition falling into the 2024 financial year. The gross margin for the second half of 2023 is expected to be higher than the first half, and the cash position at the end of the year is projected to be approximately £15 million. The streamlining of the Services business is expected to result in cost savings of approximately £3 million per annum in 2024 and extend the cash runway into Q2 2025. Revenue for the Products business is expected to triple in 2024 compared to 2023, supported by the newly established distributor network and new product launches. The company plans to launch the Portrait PD-L1 test, the Portrait+ antibody staining kit, and the Parsortix BiDetectTM DNA solutions in 2024. The streamlining of the Services operations involves closing the US clinical laboratory and focusing on a single UK-based center of excellence. This will allow the company to focus its investment in multiple molecular platforms without duplicating significant costs. The extension of molecular capability across multiple platforms will also support product sales to customers of these platforms. ANGLE Founder and Chief Executive, Andrew Newland, stated, "The build-up of revenues has been slower than hoped but is moving in the right direction and the Company expects strong revenue growth year-on-year."