Member Info for Bermudashorts

This really is excellent news. The first patient to receive Modi1 at the full dose has already shown a partial response - their tumour has shrunk after only 2 doses. Hopefully that response will continue over the treatment period. Worth remembering that these are patients with inoperable advanced tumours who have already received all other available standard therapy.

Good to see the first combination safety cohort also now open and it really is full steam ahead for this trial.

TF

Thanks for your 8.37

Well worth watching this:-

https://www.youtube.com/watch?v=HdTByuSY2g8

Congrats Burble!

Nice update from Trinity Delta:-

'This licensing agreement provides strong external validation of the potential value of the platform, which is also confirmed by the sizeable financial terms, notable in view of the preclinical status. '

'The £46.1m raised in FY21 allowed management to finally progress these novel inter-related technology platforms properly, whilst the deal with Genmab should accelerate progress of the first GlyMab asset towards the clinic. Although investor focus will inevitably fall on progress of the clinical vaccine programmes, we continue to argue that, admittedly much earlier in development, the GlyMabs and AvidiMab antibody platforms are attractive in their own rights.'

https://www.trinitydelta.org/research-notes/fy22-results-highlight-clinical-and-corporate-progress/

Micky - notice of AGM is here https://scancell.co.uk/Data/Sites/1/media/fininfo/scancell-holdings-notice-of-agm-2022.pdf

Ivy - thanks, wonder whether LD will now do a proactive interview?

TorquayFan,

Your 10.36 is spot on and is the message I'll be taking from this set of results. We are starting to see what a massive difference funding makes to early stage biotech and how even the very best science can be hampered by lack of adequate funding. The investment from Redmile and Vulpes has finally allowed Scancell to put in place the necessary resources to do justice to its pipeline. The pipeline is still early stage and there's obviously a way to go, but what a transformation.

Apologies for the length, but I have jotted down the main points for me from todays results, some may already have been covered - feel free to ignore!

1) AFAIK, we've never been told the Modi1 dosing regime, but the fact that cohort 1 have now recieved 2 doses and the first patient was dosed in mid June suggests that the dosing interval is several weeks
2) Scancell are on track to meet previously published timescale for release of Modi-1 data and recruitment is clearly going well. How different from previous years when annual reports ususally brought news of push backs on clinical development
3) Cash burn has increased to around £13m as you would expect with 3 products in the clinic, but good to see that the vast majority of expenditure (£9.5m) was on development.
4) Headcount has increased but over 80% of staff are researchers - cash being spent where it counts on R&D
5) Calculus have sold another 3m shares which perhaps explains the share price performance after announcement of the Genmab deal.
6) Covidity trial finally fully recruited
7) A much greater emphasis on the GlyMab platform and a sense of excitment that suggests preclinial work is producing encouraging results.

Some interesting posts this morning Crumbs, thanks.

Ray,

They may be able to stretch to some plastic sheeting to keep those flow cytometers dry.

AB124,

Post rec.

It would be great to see Scancell now build on the momentum with both Covidity headline results and expansion of the Modi1 trial with immunogenicity data due in the coming weeks.

Konar,

Firstly, the time for a NASDAQ listing is when a company wants to carry out a significant cash raise and is unable to raise the cash they need on the terms they'd like at home. Scancell aren't in that position.

A NASDAQ listing would be a major distraction and drain on mangaement resources. At a time when momentum is building, with 3 clinical trials, 3 ongoing preclinical collaborations and potentially other deals in negotiation, I don't believe Scancell has the capacity or the depth of management experience to cover the ongoing needs of the business and a NASDAQ listing. That's not a criticism of the current management team, simply a reflection of the stage of development of the Company itself. IMO they would need to strengthen the executive management team before even considering a NASDAQ listing - starting with a CFO.

NASDAQ is not the panacea that many seem to think. For a start NASDAQ listed bios are going through a torrid time at the moment, but more importantly, Scancell would become a tiny fish in a massive pond and would be fighting with so many for visibility. They would need to devote much more time and effort to IR and again I don't think they have the resources or experience for that yet.

In short, I think it's far too early in the company's development to consider a NASDAQ listing and would much prefer that the Board concentrate on developing the pipeline, securing further deals and partnerships and significantly strenthen the management structure before even considering it.

Bantham,

There is such a thing as overplaying your hand. You have confirmed that you hold no stock, that you don't understand the company, it's products or the sector and yet you post daily to share your angst. Credit us with a little intelligence.

Flatlander,

In response to the specific points raised in your post:-

2) They have already appointed specialist consultants to secure US reimbursement codes
3) They already have EU approval
4) They are in the middle of negotiating distribution deals and have already announced their first.
5) Angle do not manufacture either the machines or the cassettes. They use thinXXS - a microtechnology company specialising in microfluidics to manufacture the cassettes and Cogent Technology to manufacture the machines.
9) Don't forget the US and UK labs form part of the pharma services strategy - not just routine CTC liquid biopsy for clinical trials, but also to offer development and execution of bespoke assays for clinical trials and first contracts have already been signed.

With respect, most of your suggestions are simply good business practice or are already well underway - ie. licensing and partnership discussions etc. We have yet to see the result of these discussions and that's the risk here.

Yes, I suppose they could have waited a couple of days but not sure it would make any difference.

I do think it's a shame that Lindy didn't do any media yesterday, perhaps we'll get a proactive interview today.

Konar,

They have no choice. The annual report is due on Monday and they have to publish the notice of AGM. Both John Chiplin and Richard Goodfellow should have been up for re-election at this years AGM.

miavoce - sorry posts crossed

Takestock,

It's highly unlikely IMO that they'll reveal the size of the upfront payment at the AGM. If Genmab make the payment before Monday then it should be included in the next set of interims which are usually published in January. Othewise you'll have to wait until next October for the full 2023 annual report.

Richard Goodfellow's position as CBO was temporary, not his NED position and I was hoping he'd continue in that role. Richard has been a huge part of Scancell and I found him to be the most responsive CEO of any stock I've ever held. I'm sure he was a great support to Lindy and will be sorely missed. Wishing him a long, happy and healthy retirement.

Konar,

I really, really hope you're wrong about a US listing.

'I like the fact that Angle seeks to displace expensive solid tumor sample acquisition procedures'

No it doesn't - that's not the strategy at all.

Flatslander,

Angle's IP isn't restricted by cancer type - it already has a broad IP.

All we know so far is that following FDA approval Angle and Abbott will be discussing ways of bringing CTC liquid biopsy HER2 testing into routine clinical practice. We have also been told that Abbott would want exclusivity and that the ability to offer CTC HER2 testing could result in a four fold increase in HER2 testing for Abbott. We have no idea how any potential deal would be structured, it may well be a co-development deal.

Struggling to see how it's possible to expect exclusivity and external validation at the same time.