Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF)’s key catalysts are now coming into view, judging by a research note on the life sciences company published by Stifel today.
The group made strong progress in its latest financial year, including a positive data reading arising from SCIB1’s Phase-2 (SCOPE) trial for advanced melanoma and progress in Phase 1/2 of its Modi-1 clinical trial (ModiFY).
“Its clinical-stage cancer vaccines, SCIB1 and Modi-1, have shown positive safety and early efficacy read-outs in their respective clinical trials (SCOPE and ModiFY), and with recruitment continuing on track, we are looking toward several significant clinical milestones in 2024,” said Stifel analysts.
Analysts were also encouraged by Scancell’s recognition of a £5.3 million upfront fee with biotech group Glenmab for one of its anti-glycan monoclonal antibodies.
Following Scancell’s yearly earnings call, Stifel decreased its research and development spending estimates to reflect the company's increased focus on its clinical assets.
“Following these revisions, we forecast a cash position of £9.4m at 30 April 2024 with the business now having a cash runway into 2025,” said Stifel.
Stifel reiterated its 'buy' rating on Scancell stock.