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A shorter trial, stopped early, would be lower cost too, presumbly?

- Currently drilling the longest basement well yet. Has the potential to add materially to reserves if successful.

- Should be completely current on Egypt payments within weeks ie zero receivables overdue

- The prospect A well on 125 should cost $50mn to drill. IMO they should partner with PVEP and PTTEP on this (given that both are oil short and have been getting diplomatically closer) and not hang around waiting for some supermajor’s budget cycle. It needs to be drilled asap, even if they think extensions are available. They’ve had the asset for over a decade FGS!

Diggle’s answer to my question (which was directed at both non-execs, representing 45%) is in the transcript. Perhaps someone has it to hand?

Tuesday or Wednesday would be a great time to remind the world that Scancell has a world-leading Melanoma vaccine, given the long BH weekend, searing temperatures and record temperatures.....

Yes, Crusty…..I made two completely separate points - that is why I left a great big gap between them……

Who’d have thought that networking for potential partners would lead to a new job offer……😉

Note the late 500,000 trade.

The next two sessions will be interesting. I’m also wondering whether a holdings RNS is due, given the high volumes we’ve seen in recent weeks?

Chester,

It is absolutely NOT “a fact” that Scancell might be forced into listing on Nasdaq to raise money. As Crusty points out there are other options.

My impression is that Phil is very relaxed about the options available - but I suspect some options would be made much easier if the MHRA got off their duffs and the BBB could co-invest.

Parsing Phil’s comments, I think the main irritation is the ridiculous delay to the MHRA sign-off. This must surely be a factor in trial design and, most likely, partner choice. It is entirely possible that everything is lined up pending that sign-off.

The other constraint is plainly the British Business Bank’s constraint on investing in listed companies, which probably militates against staying UK-based.

Both these points are elements that make UK growth sclerotic - and a competent government would be acting to remedy them. Hopefully James Murray (the Streeting replacement) has his ear to the ground!

Perhaps today is the day......;-)

Not quite, ciaskin.

He was invited to say what the product would be priced at and simply said that the benchmark will be what the existing standard of care costs (which is c $150k pa per patient).

Also he said that our products work on c.80% of patients…..but he was talking in generalities and not specifically re Modi.

But your conclusion may still be correct…..

Phil just made a big BIG pitch for the BBB to be allowed to invest in AIM-listed companies……but, as it stands, the larger capital pools are all in the USA. He highlighted the disadvantages of AIM (which is uninvestible for many US institutions) so, unless there is a deal to allow the BBB to co-invest VERY promptly, the subtext is that the NASDAQ beckons!!

Interestingly, China was highlighted as a location that offers extremely quick regulatory approvals - whereas the NICE process in the UK was started at the same time as the FDA……BUT THEY ARE STILL AWAITING APPROVAL.

Basically it is clear that we want to stay in the UK - but it is massively uncompetitive in terms of the regulation and institutional investor environment. I get the impression he has raised this before with government!

Lindy “nearly” interview…..very last question:

https://youtu.be/nWUUWSSEv-s?si=yzFknWKPziiL9jM3

Someone somewhere will make it work. I think I’m (nearly) there. “But vaccines will work one day and when they do they are going to be pretty huge”…..

Trying to answer the query I myself raised, I came across this profile of Lindy from three years ago:

https://www.theguardian.com/business/2023/jun/20/designing-a-vaccine-that-covers-all-cancers-is-hard-biotech-pioneer-lindy-durrant

……..and this post from Rob23460 on June 14th 2024:

“ “I think I’m there…….I think I’m nearly there” Says it all really.......perhaps we are finely getting into the end game and you either back that statement or you don't there is no in-between in my view now !!”

Perhaps she has actually “arrived” in recent months…..and it is that which is the reason for the silence? Remember the Goodbody interview in which he said they had to maintain “radio silence” for a whole year after the serendipitous discovery of Modi…..

Whatever the explanation, I’m holding extremely tight….

Researcher comments:

“ Could it be that over all the patient years LTH's have developed an awareness that Scancell has multiple leading oncology platforms on its hands? (After all, the usually modest Lindy has more than once called them "the best"!). ”

Remember also the interview in which Lindy had to correct herself by inserting the word “nearly”? If someone can find the link, it might be relevant to consider the precise context of that with fresh eyes. I am wondering if she’d feel the need to make such a correction today…….

The mistake people are making is to assume there is “one” buyer.

“one” is indeed an important concept - because Scancell’s platforms are based on a unique approach i.e. there is only one such company……in the world.

The WHOLE world may come to want a piece of it. IMO we have many, many buyers……and there are only enough shares in circulation for even the population of little old UK to have less than ten shares each.

Go figure.

“ Here’s a very interesting test, if we see the same acceleration in both price and volume tomorrow I think we have to concede that there is a connection between these daily rises and the negotiations that are going on behind closed doors.”

Absolutely not. The same pattern has now been followed for several months. The only thing that is happening is that investors in a sector worth many tens of billions of pounds have noticed that something is happening…..and yet only 500 million or so shares are theoretically available here, even before allowing for the fact that a number of us here are in the top hundred or so shareholders and have no intention of selling at all.

It is simply the impact of news spreading and the weight of money chasing a position. But what they all know is that the window to get a position before material news emerges is shrinking fast.

“ They would have to notify the market if they received an offer, even a low ball one - it would be price sensitive”

Not so. There are a number of tests that would be applied, including credibility and financial capability. And pretty academic anyway, IMO, as I don’t think there would be the remotest interest from Redmile or Vulpes anywhere close to current prices. The share price will need to be in three figures before that becomes a possibility, I think.

I imagine, however, that there could easily have been a few companies on kite-flying exercises……

Will be worth watching this week……one day soon there is going to be an absolutely massive closing auction, well above the prior market ……eg 5mn shares trading at 28p in a “25p world”. All it needs is for the TA folks to “load the bases” at a level they think relevant. So if “the next level” is at 27.5p, I’d be expecting a closing auction to take the whole lot out all the way up to 30p, for example.

£250mn market cap is not even derisory. It is piddling…….

£8 a share not an impossibility once the global/US market catches on to the potential of the platform…..