Angle jumps again after pay out
Medical technology firm Angle saw its shares jump for a second day in a row after it received cash due from the sale of its portfolio company Acoylte Biomedica.
Medical technology firm Angle saw its shares jump for a second day in a row after it received cash due from the sale of its portfolio company Acoylte Biomedica.
The 2007 sale led to a legal case over an earn-out provision, which saw former Acolyte shareholder, Porton Capital, take the buyer, 3M, to court.
Angle said that following Porton's victory it had received $286,226 - around £178,000 - which would be used to support working capital requirements.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company's founder and Chief Executive, Andrew Newland, said a strategy of observing the third party action against the purchaser, rather than participating in litigation, meant Angle had avoided substantial legal costs.
The news pushed shares were up 15% in early trading, which followed a 90% leap on Monday after the company announced a major breakthrough in its cancer diagnostic product Parsotix.
MM
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
