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Hi C7 and thanks for the warm welcome. I may be a new poster but I have kept an eye on SCLP for possibly longer than anyone else here – there’s a challenge which I’m sure will be embraced.
In January 2002 I had some capital gains tax payable and in those days you could defer the tax by buying a VCT, and I put a small amount into BioScience VCT , renamed Hygea and now Seneca. BioScience paid themselves a handsome fee and slowly lost most of my investment. But they refused to die and I was intrigued why they held on to one investment, SCLP. They still do, for anyone wanting a difficult to trade way into SCLP at a huge discount. On the basis that they may actually have stumbled on to a decent company, having squandered all my other money, I bought a direct holding in SCLP, and over the last decade I squandered further monies of my own volition in various OO’s.
So my original investment, via BioScience was probably at 100p. But thanks to you guys who I have been following for a long time, but with nothing to contribute myself, I’ve gone major on this with an in price of just over 8p.
PS. The 2002 capital gains problem arose out of a multi bagger event I had in ARM, and in the early 1980’s (remember pre internet and the time of “microchips”) I went banco on a company which intrigued me as every one of the directors had at least a PHD. Psion put 3 kids through school and paid for the first divorce, so I do have form. And patience.
Afternoon guys, a welcome to three new posters, and with regard to Nasdaq it has been suggested a timeline of 2 further years will be needed for maximum effect.
I would have felt if trials get started in America on SCIB1/Keyruda or MOD1 tremendous data from the trials would position us very well for a future IPO.
Any thoughts on that?? And Bermuda thanks for that info on SCIB2, it is all in the detail!!
Chester
It may be another question for the AGM.
Scancell may have obvious appeal to the US market due to
a) Redmile's investment
b) The big and promising pipeline for such a small company
c) The approach Scancell have taken on Covidity
I suppose if Scancell are contemplating such a move, the timing may be crucial.
Thank you for those helpful responses to my enquiry
Hi Ray
I use to hold a lot of shares in Verona Pharma who dual listed on the Nasdaq.
Initially the price spiked but very quickly retraced due to lack lustre clinical updates. So it is a big advantage being on the Nasdaq to raise the share price only if you have the fundamental positive data in place.
Redmile obviously would want Scancell dual listed in the event of positive early data from SCIB1 / Keytruda or MODI1.
It looks like we are in for a heck of a ride over the next 2 years but the next 6 months will determine just how big that ride is going to be.
Once this OO is out of the way next week and we move towards the AGM I think Scancell will start to release some of the news we are all waiting to hear.
Chester.
Do anyone know of any other AIM companies that also have a Nasdaq listing?
The big advantage I can see is that Biotech companies are held in much higher regard in the US so perhaps the Nasdaq SP would drag up the AIM SP.
Pistol, the share price won’t be too much of an issue as we could do a share consolidation so a 1 for every 50 would get us to £7 or $9. Some of the other criteria like turnover, cash flow, number of shareholders may prove problematic but not insurmountable given the backing of Redmile.
I’m not sure it would have much effect on the SP. Perhaps by a few pence in the short term but the potential value of the pipeline, the cost of monetising and the value to a company wanting to purchase us doesn’t change whether we are on AIM or NASDAQ. Either way, at some stage the true value will be spotted by the market or made blindingly obvious to them.
IMO DYOR
Unlikely to happen in the foreseeable future, not least as there is a requirement of a minimum share price ($2 to $4 depending on other factors). I have large long term holdings in my share account and ISA and, whilst I'm hoping to be around for many years yet, it is likely (depends on HMRC clearance) that as they are traded on AIM they would be free of Inheritance Tax. My conflict is that I want and expect SCLP to be successful, but not too much than it is taken over (unlikely in the near time as its assets comprise to a large extent the expertise of individuals) or changes to another market. I see little benefit in moving to Nasdaq.
I have increased my holding here over time and it probably represents what some might say is an unwise proportion of my portfolio. Is there someone out there who would have the knowledge to comment on the feasibility and possible effect of a NASDAQ listing? I have been wondering about that possibility particularly since the involvement of Redmile.