Scancell Holdings plc reports strong financial results for the six-month period to October 31, 2025. Their lead product, iSCIB1+, showed promising efficacy and durability in a Phase 2 trial for advanced melanoma, with a 74% Progression Free Survival rate at 16 months. The FDA has cleared an IND application for a Phase 3 trial. Modi-1, another product, is showing early promise in treating head and neck cancer and renal cell carcinoma.

GlyMab Therapeutics Limited, a subsidiary of Scancell, has initiated studies for SC134, an antibody with potential for treating small cell lung cancer. The company continues to develop antibodies in partnership with Genmab. Scancell reported an operating loss of £8.9 million for the six months ending October 31, 2025, with a cash balance of £8.6 million as of the same date. They received £3.0 million in R&D tax credits post-period.

Scancell’s CEO, Phil L’Huillier, highlighted the potential of iSCIB1+ to redefine the standard of care for advanced melanoma. The company plans to commence a global Phase 3 study in 2026 and explore financing options. They will also evaluate partnering opportunities for their lead antibody, SC134, and Moditope® following new data expected in H1 2026. A webcast for analysts and investors will be hosted by Scancell’s CEO and CFO at 14:00 GMT. Scancell has established GlyMab Therapeutics Ltd. to develop high-affinity GlyMab® antibodies targeting tumor-specific glycans, two of which are licensed by Genmab A/S. The company submitted Phase 3 IND for iSCIB1+ combination therapy for advanced melanoma, with FDA clearance received for a global Phase 3 trial expected in 2026 pending financing.

iSCIB1+ is an advanced therapy from Scancell’s ImmunoBody® platform, showing positive results in the SCOPE trial. Cohort 3 data revealed a progression-free survival of 74% at 16 months in the target HLA population, with an overall response rate of 56%. Positive FDA, EMA, and MHRA advice have paved the way for the Phase 3 trial.

Modi-1, a citrullinated peptide therapy from the Moditope® platform, demonstrates potent T-cell responses and clinical activity in solid tumors. The Phase 2 ModiFY study aims to improve outcomes in head and neck cancer and renal cell carcinoma compared to standard of care, with data readouts expected in the first half of the year.

The GlyMab® platform has produced antibodies that target sugar motifs on cancer cells. SC134, the lead candidate, has shown promising in vivo data and commercial interest. Scancell’s subsidiary, GlyMab Therapeutics Ltd., aims to secure financing and partners for further development of GlyMab® therapies. Scancell Holdings plc reported an operating loss of £8.9 million for the six-month period ended 31 October 2025, an improvement from the loss of £10.5 million in 2024. R&D expenditure decreased to £6.1 million due to lower manufacturing costs, while administrative expenses remained consistent at £2.7 million.

The overall loss after tax for 2025 was £5.7 million, a significant improvement from £12.5 million in 2024. Despite this, the net liabilities of the Group increased to £8.4 million, with cash at £8.6 million. The Group received R&D tax credits of £3.0 million in December 2025.

Following early partial redemption of £1.0 million of convertible loan notes in September 2025, a total of £18.2 million notes remain outstanding. Derivative liabilities associated with the notes decreased to £4.4 million, reflecting changes in the value of the conversion feature.

The Consolidated Cash Flow Statement showed a reduction in cash from £16.9 million to £8.6 million due to cash used in operations and loan repayments. Despite challenges, the company remains actively engaged in potential business transactions and partnerships to drive future growth and financial stability. The interim report’s financial information aligns with accounting policies for the year ended April 30, 2025. Loss per share for the period ending October 31, 2025, was 0.55p on a basic level and 0.64p on a diluted level due to convertible loan notes. At October 31, 2025, issued share capital was 1,037,781,403 ordinary shares.

After redeeming £1.0 million of convertible loan notes, £18.2 million notes remain outstanding and recorded as £15.9 million on an amortized cost basis. Derivative liabilities associated with the notes at October 31, 2025, were £4.4 million. Taxation for the period ended October 31, 2025, was based on expected rates for the year ending April 30, 2026.

R&D tax credits of £3.0 million for the year ending April 30, 2025, were received in December 2025. Share-based payment expense for the period ending October 31, 2025, was £1.1 million. Interim results were approved by the Board of Directors on January 28, 2026, and are available on the Group’s website.

Read more at GlobeNewswire.: Interim Results for the six months ended 31 October 2025