Results: SCLP

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Scancell - £8m fundraise at 12p. A bargain?

My old (and terrible) tip from the 2015 New Year of AIM-listed Scancell (SCLP) has announced a placing. And there I was thinking that things were finally turning around, with the shares back up to 17.5p. The 12p placing and open offer is, on the face of it, at a huge discount of 31%. No doubt broker Panmure Gordon will rise to the incredibly difficult task of placing the shares out and earning its commission.

EPIC SCLP
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Scancell – drug supply problems and a bet with the Sheriff

AIM-listed cancer-buster Scancell (SCLP) announced on Friday that its seven-year-old supply of SCIB-1 vaccine trial doses has had to be withdrawn as the product is no longer within the original specification: it has degraded. The formal trial ended last year, but eight patients elected to continue the treatment which has had to come to an abrupt halt until a new batch is manufactured (about 9-12 months). Bad news, but perhaps not as bad as it might seem.

EPIC SCLP
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Scancell – Placing, Open Offer, future plans: a buy?

It has been too long since I revisited AIM-listed biotech Scancell (SCLP). Much has happened since I picked it as a share for 2015 but it is egg-on-face as the shares have more than halved, with (so far) no value-enhancing corporate deal on the table. The clinical trial on the company’s lead product, SCIB-1, is done but there have been funding questions – correctly called by Tom Winnifrith. Now we have an EIS-qualifying open offer on the table alongside a placing, with some detail of plans going forward. Still holding my shares, the question is what to do?

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