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LONDON (Alliance News) - Scancell Holdings PLC on Friday said its pretax loss widened in the year to the end of April, in line with a ramp up in development and administrative costs.
The immunotherapies development company said its pretax loss for the 12 months to April 30 was GBP2.8 million, widened from the GBP2.5 million loss it made a year earlier. The company does not produce any revenue and so the loss was driven entirely by its development costs rising to GBP2.0 million from GBP1.7 million and by a slight uptick in administrative expenses.
Over the year, the company received encouraging results from phase one and two trials conducted on its SCIB1 immunobody for patients with stage 3 or stage 4 melanoma.
"We continue to make significant progress with both of our platform technologies and pipeline. We remain excited with the data arising from our SCIB1 Phase 1/2 clinical trial in patients with Stage III/IV melanoma. In particular, the increased survival times and low incidence of adverse events in those patients with resected tumour demonstrates that SCIB1 has the potential to be an effective new treatment option in patients with adjuvant melanoma," said Richard Goodfellow, the company's joint chief executive.
Shares in Scancell were up 1.4% to 28.4 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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