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Have tweeted some new research from Scancell and Leiden University Medical Centre reporting on a preclinical study using Scancell's FG88 mAb. The study is looking at the potential of targeting glycans for imaging of cancer - in this case colorectal and pancreatic cancer.

Rather than using the mAb as a therapy, they've covalently conjugated it with infrared fluorescent dye. The mAb then targets lewis glycans on the tumour cell surface, delivering it's payload of dye . The theory is that tumours will then display near-infrared fluorescent (NIRF) light which will allow surgeons using an NIRF camera to distinguish between healthy tissue and tumour.

Good stuff.

https://rdcu.be/b6fbs

Seems that new research is published almost daily building on the understanding of the microbiome. The article below is a summary of a study from US researchers looking at the interaction between the microbiome and P53 in cancer. P53 is a gene which suppresses cancer by sensing cancer cells and triggering their destruction or preventing them from dividing and reproducing - clearly a good thing. Problem is that it frequently mutates and loses its tumour suppressing abilities. The findings of the study:-

'In sum, this study suggests that bacterial metabolites can control the functional outcome of p53 cancer-driving mutations, highlighting a new mechanism by which the gut microbiome could play its part in cancer development.'

https://www.nature.com/articles/s41579-020-0434-8

miavoce -

Yes think 6 directors were mentioned earlier on the bb but the only other directors eligible to take part were JC and RG. To be fair to JC, he has invested heavily and at a higher price in previous funding rounds and still holds those shares. Nevertheless, it would have been good to see at least a token buy from both. Having said that, good to see SA and in particular LD take their full entitlements.

corr. RNS not TR1

rats,

I'm not sure your 13.52 is quite right. I believe that LD has taken her full entitlement.

She directly held 1,665,783 shares plus 8,773,960 shares under the Joint Ownership Scheme but I don't believe the joint ownership holdings are eligible to take part in corporate events such as OO's or right issues. That leaves the 1.665,781 shareholding which would give an OO entitlement of 130,649, which of course is exactly the figure allocated according to the TR1.

Ivy,

Agreed and will be interesting now to see TR1s over the next few days.

Ivy,

lol - yes missed the 11.5p fully diluted figure completely.

Chelsea/AB124,

Correct.

Valuation has increased from £72.4 m to £83.7m to reflect additional cash and price reduced from 15.6p to 13.3p to reflect the new shares in issue, although I don't believe it includes the CLNs.

Despite the dilution and the reduction in target price, Scancell are in a much, much better place today than they were a month ago. I'd take the new valuation with £17m in the bank over the old one with cash running low any day.

Morning all.

Trinity Delta have now revised their valuation of Scancell to reflect the impact of the recent funding. It now stands at £83.7m - 13.3p per share. They don't appear to have changed forecasts for any products but have simply recalculated to reflect the additional cash in the bank and additional shares in issue. There also seems to have been some juggling re. unexercised share options although I haven't looked back at the last valuation to see how they treated share options.

https://www.trinitydelta.org/research-notes/transformational-15m-capital-raise-closes/

https://www.investegate.co.uk/aim/rns/aim-notice---12-08-2020/202008120800048319V/

shareguard

Apologies for any confusion, this was the thread:-

LL - 'My hope is that prior holders were given first dibs, with those new from the placing taking up what was left.'

AB124 - 'Only prior holders were entilted to apply.'

You - 'You are both right prior holders yes and those in the placing Vulpes yes. Vulpes have two dibs placing and open offer.'

So I assumed you were confirming that LL's comment was correct but you were simply pointing out that Vulpes could apply for OO shares on their original holdings only. The joys of internet communication - thanks for clarifying.

shareguard,

AB124 is correct, you can only take part in the OO if you were holding Scancell shares on the record date which was 21st July. So any shares bought after that date won't qualify - you must have been holding shares at close of play on 21st July. Vulpes or any other shares bought in the placing won't qualify, in fact they won't even exist until the resolutions are passed at the GM and they're admitted to trading on the 12th August.

Bronxville

Thanks, I'm with you now. Thought it was in connection with something clinical lol.

Yes, I did listen in to the conference call - agree, it was fairly low key but guess it's hard to get too excited about Q2 results. In Mark Sumaeray's defence, given his role as Chief Medical Officer, you would expect him to be very cautious and guarded with his language. In fact, I'd be a bit concerned if he wasn't.

Bronxville

CC?

Have only had a quick read but yes

- Full year revenue guidance of between $170M and $175M up from $154 in 2020
- 22% Q2 and 26% H1 year on year increase in revenue
- Myalepta sales doing particularly well even taking into account the large annual order
- Ease trial still on track to report Q3 / early Q4
- cash $67m

Amryt proving to be somewhat protected from the impact of COVID-19 and management seem confident of hitting their FY revenue guidance.

According to the RNS it will be 12 noon UK time and 7am eastern time.

'the Company will issue unaudited financial results for the second quarter ended June 30, 2020 on August 6, 2020 at 1200 (BST) / 0700 (ET).'

Afternoon LL,

Scancell won't be involved in any way with the BioNTech / Pfizer Covid-19 vaccine. They're developing an mRNA vaccine which is different to Scancell's DNA vaccine.

You can now register for the Proactive One2One event on 27th August. Presenting companies Open Orphan, ReNeuron, Angle and of course Scancell.

https://event.webinarjam.com/register/633/pyy7gsxmo

MTP,

As you know, Redx had previously been in discussions with Yesod for the sale of the company but walked away because 'the possible offer from Yesod substantially undervalued the Company and its assets.'.

That left Redx between a rock and a hard place. It had just £1.9m in cash with an annual cash burn of over £10m but more importantly, it was already propped up by debt. I think it's fair to say that had it not been for Redmile, the Company probably wouldn't have survived and the choice facing shareholders was to accept the 13p -15p (or whatever you sold for) or end up with nothing.

When the funding took place a month ago, it didn't increase Redmile's holdings - they already owned 92% of Redx stock and it wasn't an equity placing but further debt via convertible loans. From memory, I think there was a small equity placing to Sofinnova.

Redx have had a torrid time getting to this stage but they have some great science and I hope they're now able to do it justice.

All IMO of course.

Nice article in This is Money section of the Daily Mail featuring Ergomed:-

'At 560p a share currently, and valued overall at around £270million, Ergomed has had a good run this year, but the recent upbeat statement and growing need for its type of services suggest there is still some way to go yet. Good value.'

https://www.thisismoney.co.uk/money/investing/article-8588441/SMALL-CAP-SHARE-IDEAS-Ergomed-set-benefit-Covid-19-trials.html

Sorry no, but IMO it won't be before funding is approved at the GM and the new shares are admitted to trading (12th August) and could possibly be later than that.