Panmure Liberum has raised its target price for Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) from 23.3p to 24p, reflecting optimism around the biotech firm’s cancer vaccine pipeline and recent milestones.
The share price adjustment (more than double the current valuation) follows Scancell’s successful £11.3 million capital raise in December, extending its cash runway to the second half of 2026.
This financial cushion allows the company to focus on its two pivotal trials: the SCOPE phase II study in unresectable melanoma and the MOdiFY phase I trial targeting renal and head-and-neck cancers.
Encouraging interim results from the SCOPE trial have shown Scancell's SCIB1 vaccine, in combination with checkpoint inhibitors, significantly outperforming current standards of care.
With 80 per cent progression-free survival at 25 weeks, the trial underscores the potential of SCIB1 and its successor, iSCIB1+, which expands the treatable population and could address a $9 billion market opportunity.
Beyond its vaccine candidates, Scancell's GlyMab antibody platform has caught the attention of pharmaceutical giants.
The company recently licensed a second antibody to Genmab (CSE:GEN), with potential milestone payments exceeding $600 million.
This highlights the broader commercial possibilities of Scancell’s proprietary technologies, which could supplement its oncology focus with partnerships or out-licensing deals.
Despite a challenging landscape for biotech firms, Scancell is well-positioned to capitalise on a growing $20 billion market in cancer vaccines and therapies.
Its strengthened management team, bolstered by recent appointments, is set to guide the company through key data readouts expected in 2025, providing potential catalysts for investor interest.
With its robust pipeline and partnerships, Scancell continues to emerge as a promising player in oncology, offering significant long-term value to investors.