Taken from today's RNS for OXT...9 Oct 2020 08:11
SCIB1 Phase 2 clinical trial programme will continue with further sites later this year and the Modi-1 Phase1/2 trial is progressing for regulatory submission with a planned study start in the UK in 1H21. In August, Scancell announced it had been awarded a grant to develop its COVIDITY Covid-19 vaccine based on its Immunobody platform into a Phase1 clinical trial. In August, it also completed a fundraising to raise £15 million at a price of 5.5p per share, and which included a significant new US institutional investor (Redmile Group LLC). This funding will allow planned trials to continue while partnering discussions are pursued. As a result of all this news, the Scancell share price has seen much volatility, both during the period to 31 August 2020 and later. The share price was 8.0p as at 31 August 2020 (on which these valuations are based) and has subsequently doubled to 16p as at early October 2020. The Company sold £30k worth of Scancell shares prior to 31 August 2020 at an average price of 8.4p per share and, subsequent to the period end, a further £40k (at an average price of 16.9p per share) crystallising some of the gain on the Company’s investment in Scancell and for liquidity purposes.