Research on Scancell Holdings Plc (SCLP:LON) from Trinity Delta
Scancell is approaching a critical period, where the next steps for the lead oncology programmes from its highly promising ImmunoBody and Moditope “off-the-shelf” platforms will be defined. The FDA has granted Fast Track designation to iSCIB1+ and agreed the design of the registrational trial which, subject to funding, could start this year. Durable responses have been seen with iSCIB1+ in the SCOPE Phase II trial, with more mature survival data anticipated in early-2027. Other catalysts include initial data from the RCC (renal cell carcinoma) cohort of the ModiFY study, which should provide useful insights into Modi-1’s potential benefit when coupled with doublet checkpoint inhibitor (CPI) therapy, and the potential triggering of the first development milestone under the GlyMab collaborations with Genmab. Our rNPV valuation for Scancell is £399m, equivalent to 39p/share.
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