reports
Hybridan Small Cap Feast - 18 November 2024
Status of this Note and Disclaimer This document has been provided as a general market commentary and is issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as investment advice; a recommendation; an offer to sell; nor solicitation of any offer to buy any security or other financial instrument. Nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. The i...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta LIghthouse: Scancell
Trinity Delta view: Data from the SCOPE study are reassuring and pave the way for the planned randomised adaptive Phase II/III trial. Assuming continuing positive results at week 25 for both Cohorts 1 and 3, investor attention will understandably centre on the funding of this potentially pivotal study. Our forecast cash runway extends to Q325, beyond these SCIB1/iSCIB1+ milestones and Modi-1 data in H125; however, our cash assumptions do not include any potential licensing deals for the GlyMab a...
Hybridan Small Cap Feast - 22 October 2024
22nd October 2024 * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: Cambria Africa (CMB.L) has left AIM. What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 30th September 2024...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Scancell: SCOPE readouts in sight; SCIB1 data in Q424
Key clinical data for the lead cancer vaccines are approaching, with the first readout expected during Q424 for SCIB1 in advanced melanoma. Scancell is aiming to show that SCIB1 can meaningfully improve outcomes for patients, targeting an ambitious >70% response rate (ORR). If this is achieved, this would vastly exceed current 50% ORRs, but is a realistic aim, in our view, given prior SCIB1 data. Results from the improved next-generation iSCIB1+ are expected H125. Assuming positive outcomes, Sca...
Hybridan Small Cap Feast - 24 September 2024
24th September 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: BowLeven (BLVN.L) has left AIM Iqgeo Group (IQG.L) has left AIM Whats baking in the oven? Potential**** Initial Public Offerings: ITF announced: GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta LIghthouse: Scancell
Trinity Delta view: Key upcoming SCIB1 data in advanced melanoma are largely de-risked given prior results, in our view, and Scancell is already preparing for future SCIB1/iSCIB1+ development, pending full SCOPE data, including from iSCIB1+ in H125. A potentially pivotal adaptive Phase II/III trial is being planned and critical elements to ensure rapid progression are being addressed. We believe this indicates confidence in the outcome of the ongoing SCOPE trial, appropriate in our view given pr...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta LIghthouse: Scancell
Trinity Delta view: 2024 is an important year for Scancell and investor attention is understandably centred on the therapeutic cancer vaccines programmes, with both the SCIB1 and Modi-1 programmes set to deliver important clinical milestones. However, today’s evaluation agreement reminds of the inherent value within the GlyMab and AvidiMab antibody platforms. The $1m upfront payment bolsters the current cash resources, which would be augmented further were a licensing deal struck in the future. ...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Scancell: Heading into important 2024 clinical catalysts
Scancell has a number of important clinical catalysts upcoming in 2024 for its lead cancer vaccines, which are the strategic focus. Readouts include further Phase II data for SCIB1 in advanced skin cancer, first clinical data with second-generation iSCIB1+, and key CPI combination data for Modi-1 in multiple solid tumours. Commercial prospects for these will likely be maximised through partnerships, and positive data could catalyse interest and discussions, in our view. In addition, Scancell’s a...
- Martin Hall
Hardman & Co Healthcare Index: 2023 – Capital demands dent performance
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (...
AGL ANGLE PLC
DEMG DELTEX MEDICAL GROUP PLC
TSTL TRISTEL PLC
TRX TISSUE REGENIX GROUP
EKF EKF DIAGNOSTICS HOLDINGS
ETX E-THERAPEUTICS
AVCT AVACTA GROUP
PHP PRIMARY HEALTH PROPERTIES PLC
AGY ALLERGY THERAPEUTICS PLC
APH ALLIANCE PHARMA PLC
AVO ADVANCED ONCOTHERAPY
OXB OXFORD BIOMEDICA PLC
ALNOV NOVACYT SAS
VLG VENTURE LIFE GROUP
SN/ IMMUPHARMA
IMM PROTEOME SCIENCES PLC
PRM GENUS PLC
GNS SURGICAL INNOVATIONS GROUP PLC
SUN ADVANCED MEDICAL SOLUTIONS GROUP PLC
AMS OXFORD METRICS
OMG ECO ANIMAL HEALTH GROUP
EAH SDI GROUP
SDI HVIVO
HVO INDIVIOR PLC
INDV VALIRX
VAL SHIELD THERAPEUTICS
STX SYNAIRGEN PLC
SNG IP GROUP
IPO SCANCELL HOLDINGS
SCLP SYNCONA
SYNC ERGOMED
ERGO SPIRE HEALTHCARE GROUP PLC
SPI REDX PHARMA
REDX ASSURA PLC
AGR GENEDRIVE
GDR SPIRE INC
SR CONVATEC GROUP PLC
CTEC DESTINY PHARMA
DEST RENEURON GROUP
RENE IXICO
IXI 10X GENOMICS INC CLASS A
TXG INDIVA LTD
NDVA IMMUNOCORE HOLDINGS ADS
IMCR 2SEVENTY BIO INC
TSVT OXFORD NANOPORE TECHNOLOGIES PLC
ONT SILENCE THERAPEUTICS PLC
SLN SAREUM HOLDINGS PLC
SAR BENEVOLENTAI
BAI 123FAHRSCHULE SE
123F 1895 BANCORP OF WISCONSIN INC
BCOW TISSUE REGENIX GROUP PLC
PLP.H 3D SIGNATURES INC
Z29 029 GROUP SE
Hybridan Small Cap Feast - 01/12/23
1st December 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Scancell
Trinity Delta view: Scancell’s successful upsized >£10m placing removes financial uncertainty and, assuming similar success in the Open Offer, means the cash runway now extends to late 2025. This covers the important clinical milestones for both SCIB1 and Modi-1 programmes and could be extended further through the partnering or out-licensing of selected programmes from the GlyMab and AvidiMab antibody platforms. As usual in such situations we suspend our valuation and forecasts, but for context ...
Hybridan Small Cap Feast - 31 Oct 23
31st October 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Scancell
Trinity Delta view: Scancell’s cash runway extends to early 2025, covering important clinical milestones for both SCIB1 and Modi-1 programmes. The highly impressive initial SCOPE data effectively demonstrate the value of the SCIB vaccine in combination with CPIs, suggesting results from the second stage (due in H124) could be similarly positive. Early clinical data from the Modi-1 ModiFY study will also be available in 2024. Encouraging clinical outcomes would validate both the ImmunoBody and Mo...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Scancell
Trinity Delta view: Although a small patient population, these highly impressive data from the SCOPE study effectively demonstrate the concept of using the SCIB vaccine in combination with CPIs. The strength of the results mean the second stage of the study, treating a further 27 patients (bringing the total to 43), has a 90% probability of success. In parallel, a new patient cohort will examine the same CPI doublet in combination with iSCIB1+, which offers broader patient applicability and grea...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Scancell: Upcoming SCIB1 data could provide first proof of concept
Scancell has several key clinical data points due through to end-2024. First data will be from the Phase II trial of SCIB1 in combination with checkpoint inhibitors (CPIs) in advanced skin cancer. If successful the study will transition to the enhanced iSCIB1+ formulation that offers greater potency and broader applicability. If SCIB1 promising early data mature as hoped, then this programme could improve current outcomes. Top-line Modi-1 CPI combination data in multiple tumours are expected in ...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Scancell: Modi-1 successful in first part of Phase I/II trial
Scancell’s Modi-1 has successfully completed the monotherapy arm of the ModiFY Phase I/II trial, generating important results for the Moditope oncology vaccine platform. The first element of ModiFY showed Modi-1 was safe and well tolerated. There were encouraging, albeit early, signals of efficacy despite the advanced disease status of all patients. 23 patients have been treated to date, with 14 patients evaluated; of these 14, one has had a partial response and seven have stable disease. These ...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Scancell: A leader in antibody and vaccine oncology platforms
Scancell is a clinical stage immunology specialist. It has two promising oncology vaccine platforms, Moditope and ImmunoBody, and two antibody technologies, GlyMab (anti-glycans) and AvidiMab, with the potential to treat many solid cancers, either as monotherapy or in combination. Modi-1, the first Moditope programme, is progressing in a Phase I/II trial targeting hard-to-treat tumours with results due through 2023. The lead ImmunoBody programme, currently SCIB1, is in a Phase II study in metast...
Hybridan Small Cap Feast - 13 Feb 23
13 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Scancell
Trinity Delta view: The four technology platforms split neatly into therapeutic vaccines, ImmunoBody and Moditope, and antibodies, GlyMab (anti-glycan mAbs) and AvidiMab. Vaccines are the most advanced, with clinical efficacy data expected during the next 12 months for both lead Moditope and ImmunoBody programmes. The £46.1m raised in FY21 allowed management to finally progress these novel inter-related technology platforms properly, whilst the deal with Genmab should accelerate progress of the ...
- Franc Gregori
- Lala Gregorek
- Philippa Gardner
Trinity Delta Lighthouse: Scancell
Trinity Delta view: The deal with Genmab for a GlyMab antibody brings a well-regarded, highly experienced antibody expert as a partner. Importantly it is a strong external endorsement of Scancell’s in-house antibody capabilities. The total deal terms of up to $624m in potential milestones, plus royalties, could be material for Scancell if one or more products are developed and commercialised; Genmab has a proven track record of successful clinical development. The deal also reduces the developme...
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