Scancell achieved more in 2024 than in any previous year, but it is the important clinical catalysts for its lead cancer vaccines due this year that are the main focus. The key readouts include further Phase II data for SCIB1 with a doublet checkpoint (CPI) in advanced skin cancer, first clinical data in the same setting with the second generation iSCIB1+, and key CPI combination data for Modi-1 in multiple solid tumours. In addition, the GlyMab and AvidiMab platforms provide attractive outlicensing opportunities. The December 2024 fundraise, coupled with Genmab milestone income, extends the cash runway into H226, beyond key clinical catalysts, and provides the flexibility to explore partnering or out-licensing activities of key assets. Data and business development will help to define the commercial prospects for the pipeline. Our updated Scancell rNPV valuation is £330m, or 32p per share.
Scancell: Trinity Delta
Jan 13, 2025Disclaimer & Declaration of Interest
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