Scancell Holdings (SCLP) H2 2025 earnings summary

Executive summary

• Major partnership formed with Cancer Vaccine Launch Pad and establishment of GlyMab Therapeutics to advance antibody portfolio, providing strategic optionality and industry validation through Genmab partnerships.

• iSCIB1+ selected for further development in advanced melanoma based on strong clinical data, with regulatory submissions made to FDA, EMA, and MHRA, and Phase 3 planning underway following positive SCOPE study data.

• Pipeline includes iSCIB1+, Modi-1 (in head and neck and renal cancer), and GlyMab assets, with multiple near- and long-term value creation opportunities.

• Modi-1 shows early promise in Phase 2 for head & neck and renal cell carcinoma, with further data expected in Q4 2025.

• Cash runway extends to H2 2026, supported by recent financing and tax credits.

Financial highlights

• Revenue of GBP 4.7 million for FY25, primarily from a second commercial license agreement with Genmab for antibody SC2811.

• R&D expenses were GBP 14.7 million, reflecting increased investment in clinical and manufacturing readiness.

• Operating loss for the year was GBP 15 million, with a net loss of GBP 12.3 million.

• Year-end cash position of GBP 16.9 million as of April 2025, bolstered by GBP 11.3 million financing in late 2024 and tax credits of GBP 5.6 million.

• Convertible loan note maturities extended to H2 2027, with interest deferred.

Outlook and guidance

• Cash runway projected through H2 2026, covering key milestones and regulatory activities, with upside opportunities from pipeline progress and partnerships.

• Anticipated milestone payments from Genmab licensing deals within the next 12 months.

• Multiple clinical and regulatory milestones expected in 2025 and 2026, including Phase 3 trial initiation for iSCIB1+ and data readouts for Modi-1.

• Ongoing active discussions with potential partners and investors; two-pronged strategy to pursue both partnership and independent development.