Scancell's Share Price Soars on Hopes for a "Universal Vaccine"
The share price of Scancell Holdings plc, (AIM:SCLP) rose sharply from 14p to a high of 28p on Monday 15th February before settling to close at 20p. The increase marked a 52-week high. A total of 57 million shares changed hands compared to an average daily volume of around 400,000.
This dramatic trading activity followed a report in the Daily Telegraph and many other publications that Scancell was developing a "universal vaccine" against COVID-19 that could "conquer variants" and be "available within one year." The newspaper's assessment was based on the following comments by Scancell's CMO, Dr Gillies O’Bryan-Tear.
“We don’t necessarily claim it will be a pan-coronavirus vaccine, but it has got the potential to be so simply because of where it is targeted.” Scancell's vaccine targets the central N protein of the virus in addition to the S protein of its crown.
"There is no reason why, if we get a partner, we shouldn't be able to do it as quickly as the others have done it." Dr O'Bryan-Tear noted that the first coronavirus vaccines emerged less than a year after the pandemic began.
Later on 15th February, the company confirmed its "goal of starting a Phase 1 clinical trial, to determine safety and immune responses to the vaccine, as soon as possible during 2021. Subject to the result of the Phase 1 clinical trial future studies would be undertaken to establish efficacy."
We are standing by for further developments. In addition to the timing of the trials, we are interested to know where and how these will be conducted in view of the expansion of current vaccination programmes in the UK. We see Scancell addressing a second stage requirement in the UK and a primary requirement in the global market place for vaccines against COVID-19 and other infections.
We are also waiting for news of strategic collaborations and hope that the press coverage will have increased awareness of its COVID-19 vaccine programme.
LGB has supported Scancell in many fundraisings since its IPO on the OFEX market in August 2008. The company is now quoted on AIM with the ticker SCLP.