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Burble, maybe they will look at both. But yes a great question for the AGM.
Cheers Ruck, I know it was a tricky question, but of course with data, good data it will be offset even further.
Really hoping we get to hear something positive about trials restarting and recruitment around the AGM time. This pandemic can only hinder that happening , which begs the question of what Redmile see as an SP driver until then. There are many items of news to come for sure, think it is fair to say Redmile know a lot more than we do.
Good to see you back Burble
RP,
This is a question that I would like to ask at the AGM if I can make it. Do SCLP see the role of FG2811 as a tool to make better CAR-T/TCR products through it's ability to select TSCMs or do they envisage it instead to be developed into a product in it's own right targetting SSEA-4 on cancer cells? Which route holds the bigger value to the company vs which holds the bigger value to the patient?
With fg2811 remember what Burble said about the significance to CAR-T. The fact that TSCMs treated with Fg2811 consistently remain active in vitro for long periods means that this has potentially solved one of the key problems in CAR-T therapy. It may be the key to a big effect on the inconsistency of results in different patients. Also the cells are staying alive long enough to make a 2nd treatment possible without re-harvesting the patient's cells.
Perhaps Scancell should try recruiting someone with CAR-T experience, oh wait they are doing just that :-)
Morning,
C7, nothing much to add to the valuation debate. I have only attempted to put a value on SCIB1 /2 and MODI1 as TD have. These are based on market value, market share and profitability. There have been no material changes on these factors (correct me if I’m wrong). The significant change is the number of shares going from 465m to 984m in the past few months. This 112% dilution will half any SP estimates I made before this.
Of course, this may be offset by value coming from Avidimab and Covidity. I’m not sure how you can assign a value to these, they are more complicated. You are not valuing a cancer treatment but a component of a potential cancer treatment. I’m waiting to see what TD have to say. I’m also interested to find out how much of the cash they add to their company value.
With so much money in the bank, it is unlikely that there will further dilution before we get some “great data”.
Morning Crumbs, no I wasn"t saying people were downbeat,or didn"t mean it that way,just as you sayit is close to the first tranche, the 2nd OO, Money must be tight etc etc and for many of us our P/Ls are coming back sharply.
Anyway 14.60 being paid, I didn" reckon on going sub 14.50, but ets see,
Ray yeah and I imagine with that MaB and supposing if that was the one the partner was after it s one we do not want to 'give away'
Yes AB I'm looking at it like that now too... it was more a ... what I was expecting -the concluding of our first MaB deal this year- Is no longer to be expected, of course, the case that maybe by spending a couple of hundred k on them makes them multiple times more valuable if that is the case is fine by me.... I'm sure that will become clear at AGM as will undoubtedly be a question asked if it is not in any presentation.
What are Lindy's plans for fg2811 for instance?
Absolutely AB.
The glycans mabs and avidimab have so much potential that with 50 mill of funding it just doesn't make any sense to do a deal with such scant data.
AB agree with you. Remember we have 2 more collaborations coming to fruition in a short time. The first deal will set a precedent to the other 2 and we are no longer in a situation where others can see us needing fire sell prices IMHO
Crumbs I like to focus on the fact that if Cliff's Deal has been shelved for the present, then it might be felt that Scancell can benefit from further development and maybe even a more structured route to manage the asset rather than the first shape of any deal which might have been done. I think its a big positive. At least Scancell haven't grabbed at the first opportunity to get some positve cashflow which might have sent out all the wrong signals.
I don't think investors here were downbeat about being fully funded obviously takes a while for the amount coming in to sink and it does mean scancell now can prove itself up with data and indeed if all goes well make the leap from being a baby bio to something much more exciting I suppose at least for me the down side on the day was more about how it has happened and now that the power lays with redmile which may not be a bad thing but it is a thing... the other it coming so soon after the last fully funded funding and gave an OO dilemma lol for me mean't digging at the back of the sofa for others they probably have sold a few to buy a few... with the impact of that on sp.... But overall for me the downer was Cliffs deal has become Cliff hanger...I'm over it now though:) and looking forwards I'm sure a lot will be much clearer after AGM and I'm sure Lindy is over the moon to finally have funds to do what she wants to do which is great IP enhancing science... The dilution aspect though real is less a concern at this stage for me than being funded.... modi1 is the type of product that could get one those $billion upfront deals for 3/4 targets that we have seen get done... yup 1 billion upfront for a product of a platform of part of a pipeline that has tens and tens of targets (an RNS once the trial is running saying the trial is being extended into sarcomas and other cancers would be the biggest green light to pi ever).. trinity that lol
One of those rare nights last night where I didn"t hit the pillow and sleep for my normal 12/14 hours, in fact couldn"t sleep at all.
Our recent deal with Redmile has provided much food for thought, and we have discussed issues like whether Tranche 2 was pre agreed at the time of Tranche 1, and the only benefit in my eyes is whether omething has occurred since Tranche 1 that necessitated extra funding. From that it has raised the odd post of whether Scancell can close a commercial deal, questions about where we stand with collaborations with Biontech and Karolinska and a possible failure to convert our first collaboration deal with Avidamab. Whilst all interesting questions it would be so helpful if we got updates on all platforms, even our plans with SCIB2 now it has come home for trials. I just think both Tranches were agreed at Tranche 1 stage, it has kept Redmiles Holding under 25% and the size of the 2nd Tranche is too big IMHO to be a kneejerk reaction to not securind a commercial deal. After all were we ever going to raise £33m with our first Avidamab collaboration??
I mentioned Sunday that I felt a little downbeat comments over the last few days, and I hope that stemmed from the placing causing us to lose 25% of our value, but it is, hopefully, one step back to take giant strides forward.
This funding has really taken me by surprise, never in a million years would I have thought we could pull that off just a short time ago with our M/Cap languishing at £23m, the SP going nowhere at 5.5, but we have and for the first time I can remeber we have serious funds to take all platforms forward . COVIDITY and Glycan/MaBS has been discussed mostly, but lets face it the bulk of the funding must be earmarked for SCIB1/2 trials, MOD1 trial and MOD2 development.
That being the case it is one hell of a validation of our science to be awarded these funds and I do believe the role of Vulpes and Pharma has helped secure this. But if ever external validation had a meaning, surely this is now. It excites me as to who Redmile will bring to the table, and we can only dream of becoming the next Biontech.
Ruck, you have come up with many posts re valuations along with Ray and crumbs, I haven"t seen a new calculation as to our worth or the budgets you feel have been afforded to each platform,which I eagerly await.
There was a time not so long back that I had thoughts of Avidamab and COVIDITY taking over our original hopes of taking the Immunobody and Moditope platforms to commercialisation, in the absence of resuming trials for an unspecified amount of time. But Redmile have taken this into account and whether this is a big investment for them or not, £50m is a huge amount to us, Hopefully in the short term the SP will climb back into the 18s, there are so many items of news to come this a very realistic target, and for the first time ever the words "fully funded" have a real meaning. GLA