A 16.6% rise in pre-tax losses hasn’t dampened investors’ spirits for development-phase drug company Scancell (SCLP:AIM). The cancer-focused therapy specialist gains 1.7% to 28.5p on the positive progress achieved by its pipeline.
In the year to April 30, pre-tax losses increased to £2.4 million from £2.2 million on higher R&D spend. Its cash fell to £3 million from £5.5 million during the period.
The real news is the progress the company is making with its pipeline candidates. Phase I/2 clinical trials for SCIB1 to treat those with stage III/IV melanoma have shown improved survival rates and fewer side-affects. Headline results from these tests are expected by the end of December.
Evidence also emerged during the year that its ImmunoBody vaccines could treat late stage melanoma, while Modi-1 is on track to start clinical trials in 2016.