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LONDON (Alliance News) - Scancell Holdings PLC on Wednesday said its pretax loss narrowed in the first half as it continued development work on its SCIB1 and Modi-1 cancer treatments.
The company said its pretax loss for the half to the end of October was GBP1.4 million, compared to GBP1.5 million a year earlier, reflecting a fall in development and administrative costs.
In the half, Scancell completed the main study period for the phase 1/2 trial of SCIB1 cancer vaccine, with good results shown in patients with Stage III/IV melanoma. The final clinical study is expected in the first half of 2016.
Modi-1, the first candidate from Scancell's Moditope platform targeting breast and ovarian cancer, also made progress in the first half, with clinical studies due to start in 2017.
"We are attracting renewed interest from both investors and pharmaceutical companies on both sides of the Atlantic. Cancer immunotherapy is becoming one of the most important clinical advances of our generation and I have never been more optimistic about the company, its research and the potential for future growth," said Richard Goodfellow, joint-chief executive of Scancell.
Shares in Scancell were down 5.5% to 17.01 pence Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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