Proactive Investors - Run By Investors For Investors

Oncimmune expects material revenues and profits from enlarged lung cancer study

Commercial terms are being negotiated for the study, which is expected to commence later this year and will last approximately 24 months.
lung
ECLS study will test 200,000 people

Diagnostics group Oncimmune Holdings PLC (LON:ONC) says its cash position is materially ahead of expectations as it moves towards a major study for its EarlyCDT lung cancer test.

In June, Oncimmune released the results of a study of the diagnostic tool on 12,210 people in Scotland.

The EarlyCDT-Lung test was used alongside x-rays and CT scans to check for the killer disease and hit its primary end point of reducing the incidence of late-stage lung cancer.

Oncimmune said the study showed the commercial potential of EarlyCDT, which will now be tested further in a 200,000 person study.

Commercial terms are being negotiated for the study, which is expected to commence later this year and will last approximately 24 months.

The study is expected to add materially to revenues and profits over its duration, said the AIM-listed company.

Outside of the UK, Oncimmune has already negotiated a number of distribution agreements for EarlyCDT, which amount to guaranteed revenues of at least £34.6mln.

Some of these have taken longer than expected to conclude so sales this year will undershoot expectations, but lower operating costs will mean reduced losses and the better cash position than expected.

Elsewhere, a study of EarlyCDT in 1,000 people in China will generate top-line results in the final quarter of 2019 after which Chinese approval for the diagnostic tool will be sought.

Oncimmune added it is also in discussions with a number of possible partners for its autoantibody panels.

View full ONC profile View Profile

Oncimmune Timeline

Related Articles

blood
June 21 2019
Belgium-based company’s Nu.Q test screens for colorectal and prostate cancers, and may have the potential to detect ovarian disease endometriosis
researcher at microscope
May 24 2019
Its lead asset, RXC004, is part of a potentially breakthrough group of cancer drugs called Porcupine inhibitors
antibodies
May 02 2019
Avacta is using Affimers to develop its own cancer therapy, but it also licenses the technology to other companies, including major pharma group ModernaTX and LG Chem Life Sciences

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use