Scancell Holdings (SCLP) H1 2025 (Q&A) earnings summary

Executive summary

• Lead cancer vaccine programs demonstrated strong interim efficacy, with SCIB1/iSCIB1+ showing up to 84% disease control and 72% objective response rates in advanced melanoma, and Modi-1 achieving 43% ORR in head and neck cancer, both outperforming standard therapies.

• Organizational progress included new CEO, CMO, and board appointments, enhancing late-stage clinical and commercial leadership.

• Strategic partnerships and licensing agreements, notably with Genmab and PharmaJet, validated the antibody portfolio and delivery platforms.

• Raised £11.3 million in December 2024, strengthening the financial position for clinical advancement and extending the cash runway.

• Achieved US patent grant for Moditope platform, supporting future innovation.

Financial highlights

• Operating loss for the six months ended 31 October 2024 was £10.5 million, up from £8.1 million year-over-year, with R&D expenses rising to £8.0 million.

• Loss after tax for the period was £12.5 million, compared to £2.5 million in the prior year.

• Cash and cash equivalents at 31 October 2024 were £9.1 million, enhanced post-period by £11.3 million financing and Genmab license income.

• Convertible loan notes maturity extended by two years to H2 2027, deferring cash outflows.

• Net liabilities increased to £15.5 million at 31 October 2024 from £3.5 million at 30 April 2024.

Outlook and guidance

• Cash runway extends into H2 2026, supporting advancement through multiple clinical milestones.

• Full dataset for the SCIB1 arm of the SCOPE study and multiple data readouts from SCOPE and ModiFY studies expected throughout 2025.

• Early clinical readouts for Modi-1 in RCC and HNSCC, and SCIB1/iSCIB1+ 25-week ORR data anticipated in H1 2025.

• Planning underway for randomized studies to support product registration.

• Continued exploration of business development and strategic options to unlock shareholder value.