SCLP email response3 Jul 2026 08:05
FYI, I contacted the company earlier in the week expressing my disappointment at passing into H2 2026 without any update on Modi trials or Glymab developments. I received this response yesterday afternoon but only picked it up later in the day.
"...................................................... and we understand your perspective on the Modi-1 data. The company intends to provide an update on Modi-1 later this year. The delay comes from a desire to report a dataset that is sufficiently mature to ensure potential partnering discussions may be conducted more positively, as previously alluded to by our CEO in his presentation on 11 December. We remain optimistic on the possibility of further Glymab developments, but development of outlicensed candidates lies with Genmab (and therefore beyond our control), and we will provide timely updates on milestones and other matters as and when they are confirmed. Our main current focus remains the planned Phase 3 trial for iSCIB1+ following FDA clearance and fast track designation, and we expect to share positive developments soon."
Well nothing revealed that hasn't been stated or considered on this board but, from a personal perspective not particularly reassuring and creates as many questions as it answers in my view.
If Phil addressed the Modi trial data timelines on 11th December, why then release a presentation to coincide with the HY results that explicitly states that the process is still expected to be complete by end H2 2026. Surely the later release should be construed to have superseded the December statement?
It seems that we cannot anticipate any near term developments on Glymab and with that no immediate cash flow from that direction. So it would seem that the company's only option for funding - for iSCIB1+ trials or to recharge the company's BAU coffers - is from the NEUP / Nasdaq route or, alternative Corporate transaction. So all the more reason to hope that the BoD manage to execute this transaction quickly (weeks) or they might well be running to the market for a cash call pretty soon - we are now well into H2 with the clock ticking. As some were speculating yesterday, is this recent sp decline indicative of an impending domestic share issue?
Sign In
Follow the stocks
