Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Rat, you are correct...17th of May is a Friday ...not a Thursday as stated in the RNS.....if Scancell was responsible for the error then its sloppy housekeeping . Perhaps this is why we have no deals...team Scancell turn up on the wrong date and find the room empty š¤£š¤£
British biotech start-up backed by Snoop Dogg has unveiled plans to ditch the āturbulentā London stock market, dealing a fresh blow to the beleaguered exchange.
Oxford Cannabinoid Technologies said it was delisting from London following a ācontinuous, irrational and regressive pressureā on its share price. The company claimed it would be much better valued as a private company and would also not have to bear the āsubstantial costā of maintaining a public listing.
Clarissa Sowemimo-Coker, chief executive of Oxford Cannabinoid Technologies, said: āIt has been a turbulent time on the capital markets pretty much since we listed. The last 12 to 24 months have been especially challenging for small caps and particularly in the biopharma space. Companies have lost 80pc or 90pc of their value and once youāre down there, itās very difficult to make any inroads to start climbing back up again.ā
She said this was having knock-on effects when it came to bringing new treatments to market: āThings do take longer when youāre trying to stretch for capital. You inevitably slow down drug development.ā
Ms Sowmimo added: āWe anticipate that as an unlisted company, a far larger pool of capital may be available to us, and therefore it is right for us to make this change.ā
The British biotech, which landed a $10m (Ā£8m) cash injection from Snoop Dogg five years ago, joined the London Stock Exchange in 2021. Since then, it has lost 97pc of its value. The company said it expected to go public again āin due courseā but that it was more likely that this would be in the US.
Ms Sowmimo-Coker said: āWeāre intending to go away for a few years and weād hope that the London markets will have undergone a rejuvenation by then. But also Nasdaq is an opportunity and lots of others are going there.ā
Ms Sowminmo-Coker said there was a āfair bit of red tapeā in the market and also called for more to be done on bolstering institutional investment into companies following years of dwindling support.
The announcement will add to growing concerns over the future of the London market, which has been battling a wave of company exits in recent months. Biotechnology companies, in particular, have been vocal in their criticism of Londonās public markets, which bosses have claimed is preventing early-stage research businesses from being able to spend on new treatments.
Last month, Redx Pharma said it was quitting the Alternative Investment Market (AIM), claiming its low valuation was ānot conduciveā to raising cash to spend on more treatments.
C4X Discovery also unveiled plans to leave AIM earlier this year, saying the recent downturn in the financial markets āadversely impacted our share price, and with it, our future ability to raise funds in the public marketsā.
It prompted a warning from Sir John Bell, one of Britainās top life sciences leaders, that more drug makers could follow. He branded the City
Gosh ... even after investing in Scancell for decades the science is still beyond my comprehension when I read some of the articles related to the science. However.. I understand a raising share price which is great to see : ))
Chester, guess they need to complete extensive due diligence in order to part with a substantial wad of cash fir Scancell. As you say...one morningwe may be plesantly surprised..bit like the Premium bonds...you never know š
Lofas, like you, I'm locked in at this "derisory " price and can't bring myself to exit. Hopefully we really are at rock bottom and the trials will allow an orderly exit fir LTHs who need out. My aim / hope is an exit at 50p ...soon . Take care all ...enjoy life x
Stakis....in Google/ chrome etc put in SCLP ADVF...and the N ans you should land on the page for Scancell. There's afew threads for chat. The most active one is PoG which stands for Pot of Gold . It's the thread that Incanno posts on .
From Inan on the other board...
"lets assume that moderna and merck get approval ...
and they become the standard of care
Opdivo and Yervoy left in the cold
Bristol Myers being a poor relative losing business thinks ....
we want that market .... SCIB1 tested with our product is stunning ...
Ok .. make a move"
Almost a year since any Moditope update....we must be due something to help support this miserable SP . At this rate of progress we will run out of capital before trial results and unless Redmile supports Scancell...a fire sale is the only way out.