Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) said it is hoping to build on the significant clinical progress it has made in the first half of the financial year as it set out its "key near-term milestones".
Chief among them will be the second stage of the SCOPE study in advanced melanoma with its key asset, the oncology vaccine SCIB1. Recruitment is slated to start in the first quarter of 2024 meaning data should be available in Q3 of the calendar year.
At the same time, the iSCIB1+ cohort of the SCOPE study will follow a similar timeline, while the company said it will also make preparations for phase II/III randomised adaptive registration trial.
Scancell also told investors it is expecting data from the ModiFY trial, including renal cell carcinoma with double checkpoint inhibitors, some time this year.
"With important clinical milestones expected this year, including further data from both the SCOPE and ModiFY trials, and with the recently secured funding in place, the company's prospects in 2024 are exciting," said chief executive, professor Lindy Durrant.
In the update, the drug developer told investors that it continues to "progress out-licensing opportunities" for its GlyMab and AvidiMab platforms, which may provide a source of non-dilutive funding.
That said, its interim results statement showed Scancell to be in an enviable financial position compared with others in the industry in that it was sitting on £13.1 million as of 31 October 2023 (the end of the company's first half). The operating loss for the period was £8.1 million as Scancell invested heavily in developing its clinical assets.
The notable achievement in this period was "exceptional data" from the first stage of the SCOPE trial with SCIB1 showing an 85% objective response rate in 13 patients, exceeding Scancell's expectations of 70%.