Scancell Holdings (SCLP) AI Stock Analysis

• Market Cap: £135.95M
• Dividend Yield: N/A
• Average Volume (3M): 1.20M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.02
• Revenue Growth: N/A
• EPS Growth: -94.12%
• Country: UK
• Employees: 61
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 1,037,781,400
• 10 Day Avg. Volume: 991,653
• 30 Day Avg. Volume: 1,200,950
• PEG Ratio: -0.10
• Price to Book (P/B): -27.20
• Price to Sales (P/S): 22.14
• P/FCF Ratio: -17.04
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.01
• Revenue Forecast (FY): £833.33K

• Rating: 48 Neutral
• Price Target: 13.00p ▲(33.33% Upside)
• Action: Reiterated Date: 01/13/26
• Date: Action: Reiterated 01/13/26

The score is held back primarily by weak financial performance (ongoing losses, negative equity, and cash burn), only partly offset by improved burn in 2025. Technicals show an uptrend but are extremely overextended, adding pullback risk. The latest earnings call was comparatively supportive due to strengthened liquidity/runway and pipeline/regulatory progress, while valuation remains difficult to justify using traditional metrics because the company is loss-making.

Positive Factors

Proprietary platforms

Scancell’s ownership of differentiated platforms (T‑cell ImmunoBody and antibody engineering concepts) is a durable competitive asset. Platforms enable multiple programs, recurring licensing opportunities and partner interest, supporting long‑term pipeline breadth and non‑dilutive funding paths.

Genmab licensing and milestone upside

The Genmab license provides validation and tangible non‑operational cash (upfront revenue plus potential milestones). Such deals materially de‑risk development funding, create potential stepwise financing via milestones, and extend runway without immediate product revenues.

Clinical and regulatory progress

A clear PFS advantage and submitted regulatory documentation, plus confirmation of commercial‑scale manufacturing, materially reduce development and commercialization risk. Robust clinical signals and manufacturing readiness strengthen partnerability and support long‑term market access prospects.

Negative Factors

Negative shareholder equity

Sustained negative equity signals capital deficits and weak solvency optics, limiting access to non‑dilutive financing and raising lender/partner caution. Combined with existing debt, this structural weakness constrains strategic flexibility and increases reliance on equity or milestone financing.

Persistent cash burn

Despite improvement, recurring negative operating and free cash flow indicate the business structurally consumes capital to progress trials. Continued burn creates recurring financing needs, raises dilution risk, and makes the company sensitive to trial timing or milestone delays that would shorten runway.

High R&D‑driven losses

Elevated R&D spend is essential for a clinical‑stage biotech but produces persistent operating losses, delaying any path to profitability. High development costs force prioritisation of programs, increase dependency on partners or financings, and amplify execution risk if key trials underperform.

Scancell Holdings Business Overview & Revenue Model

Company Description

Scancell Holdings plc, a clinical stage biopharmaceutical company, engages in the discovery and development of novel vaccines and antibody medicines to treat unmet needs in cancer and infectious diseases. The company's product candidates include SCIB1, which is in phase II clinical trial for the treatment of metastatic melanoma; SCIB2 for the treatment of non-small cell lung cancer; and Modi-1 that is in phase I/II clinical trials for the treatment of head and neck, triple negative breast, ovarian, and renal cancers. It also develops Modi-2, which targets homocitrullinated cancer antigens. In addition, the company develops SCOV1 and SCOV2 COVIDITY, a prophylactic DNA vaccine against the SARS-CoV-2 virus. Scancell Holdings plc was founded in 1997 and is based in Oxford, the United Kingdom.

How the Company Makes Money

Scancell Holdings makes money primarily through the development and commercialization of its immunotherapy technologies. The company's revenue model includes licensing agreements with pharmaceutical and biotechnology companies, where Scancell grants rights to develop and market its therapeutic products in exchange for upfront payments, milestone payments, and royalties on sales. Additionally, Scancell may receive funding from research grants and partnerships with academic institutions that support the advancement of its technology platforms. These collaborations and partnerships are significant contributors to the company's earnings, helping to finance ongoing research and development activities.

Scancell Holdings Financial Statement Overview

Summary

Financial strength is weak: the company remains deeply loss-making with widening net losses in 2025, persistent negative operating/free cash flow, and negative shareholder equity (2023–2025). Positives include a sharp improvement in 2025 cash burn versus 2024 and a reduction in total debt, but reliance on external funding remains high.

Income Statement

Results remain deeply loss-making, with EBIT and net income negative across the period. Revenue is volatile (including years with zero revenue), and while 2025 annual revenue rebounded to ~4.7m from 0 in 2024, profitability deteriorated meaningfully (2025 net loss ~12.3m vs ~5.9m in 2024). Gross margin appears strong in 2025 (~76%), but the operating cost base overwhelms the revenue level, keeping margins sharply negative.

Balance Sheet

The balance sheet shows elevated financial risk: shareholder equity is negative in 2023–2025 (2025: about -3.8m), which undermines solvency optics and makes leverage ratios less meaningful/less comparable. Debt remains sizable (2025: ~16.3m) and assets are modest (~23.1m), limiting flexibility. A positive note is total debt declined from 2024 to 2025, but negative equity and continued losses are the dominant constraint.

Cash Flow

Cash generation is weak with persistently negative operating cash flow and negative free cash flow every year provided. The 2025 annual cash burn improved materially versus 2024 (operating cash flow about -6.1m vs -15.7m; free cash flow about -6.1m vs -15.8m), but free cash flow growth is still sharply negative in 2025, reflecting ongoing funding needs. Free cash flow roughly tracks net losses (free cash flow to net income ~1.0), indicating losses are translating into cash outflows rather than being cushioned by non-cash items.

Breakdown	TTM	Apr 2025	Apr 2024	Oct 2023	Apr 2022	Apr 2021
Income Statement
Total Revenue	4.71M	4.71M	0.00	5.27M	0.00	0.00
Gross Profit	3.70M	3.59M	-966.00K	4.75M	-740.00K	-249.00K
EBITDA	-5.60M	-12.71M	-7.06M	-12.19M	-3.75M	-14.90M
Net Income	-5.51M	-12.27M	-5.86M	-11.94M	-2.06M	-15.48M
Balance Sheet
Total Assets	15.38M	23.09M	23.58M	30.27M	49.06M	8.82M
Cash, Cash Equivalents and Short-Term Investments	8.57M	16.89M	14.82M	19.92M	28.73M	41.11M
Total Debt	16.18M	16.27M	19.87M	21.13M	18.92M	15.39M
Total Liabilities	23.75M	26.93M	27.08M	36.50M	29.57M	1.17M
Stockholders Equity	-8.37M	-3.83M	-3.50M	-6.23M	18.11M	19.48M
Cash Flow
Free Cash Flow	-8.36M	-6.12M	-15.84M	-8.34M	-8.55M	-4.80M
Operating Cash Flow	-8.35M	-6.11M	-15.66M	-8.14M	-7.80M	-4.77M
Investing Cash Flow	-1.44M	-1.54M	178.00K	81.00K	-741.00K	-13.00K
Financing Cash Flow	9.22M	9.73M	10.39M	-746.00K	46.08M	46.08M

Scancell Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SCLP, the sentiment is Neutral. The current price of 9.75 is below the 20-day moving average (MA) of 13.14, below the 50-day MA of 12.18, and below the 200-day MA of 10.46, indicating a neutral trend. The MACD of 0.29 indicates Positive momentum. The RSI at 52.41 is Neutral, neither overbought nor oversold. The STOCH value of 46.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:SCLP.

Scancell Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AREC	56 Neutral	£27.37M	-3.28	-204.29%	―	3.31%	21.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
POLB	49 Neutral	£31.73M	-3.95	-46.84%	―	―	―
SCLP	48 Neutral	£135.95M	-24.72	―	―	―	-94.12%
SAR	42 Neutral	£21.40M	-4.60	-202.14%	―	―	23.76%
4BB	41 Neutral	£89.81M	-5.84	-209.34%	―	198.49%	-26.66%
OBI	37 Underperform	£53.13M	-2.58	―	―	63.25%	8.94%

Scancell Holdings Corporate Events

Scancell Secures FDA Green Light for Phase 3 Melanoma Trial as Pipeline and Cash Runway Advance

Scancell reported interim results showing strong clinical and regulatory momentum for its oncology pipeline, led by iSCIB1+, the company’s DNA ImmunoBody cancer immunotherapy, which has demonstrated potentially best-in-class progression-free survival in advanced melanoma when combined with checkpoint inhibitors. The FDA has cleared an Investigational New Drug application for a global registrational Phase 3 trial in advanced melanoma, targeted to start in 2026 with potential commercialisation in 2029, while Scancell explores financing and partnering options to fund Phase 3 development and maximise shareholder value. The company is also progressing its Moditope-based vaccine Modi-1 in a Phase 2 study for head and neck and renal cancers with key data expected in the first half of 2026, and has consolidated its antibody assets in wholly owned subsidiary GlyMab Therapeutics, where lead candidate SC134 for small cell lung cancer and partnered Genmab programmes are advancing towards potential 2026 milestones. Financially, Scancell reported a reduced operating loss of £8.9 million for the half year, cash of £8.6 million supplemented post-period by £3.0 million in R&D tax credits, and visibility on funding into the second half of 2026, which should carry the group through several important clinical, regulatory and business development inflection points.

The most recent analyst rating on (GB:SCLP) stock is a Hold with a £14.00 price target. To see the full list of analyst forecasts on Scancell Holdings stock, see the GB:SCLP Stock Forecast page.

Scancell Wins FDA Nod for Phase 3 Melanoma Trial of iSCIB1+ After Strong Phase 2 Data

Scancell has secured FDA clearance for an Investigational New Drug application to run a global registrational Phase 3 trial of its iSCIB1+ Immunobody in advanced melanoma, using progression-free survival as the surrogate endpoint, and aims to initiate the study in 2026. The decision follows completion of the 140-patient Phase 2 SCOPE trial, where iSCIB1+ in combination with checkpoint inhibitors delivered potentially best-in-class efficacy, including a 74% progression-free survival rate at 16 months in a genetically defined target population versus 50% at 11.5 months for current standard-of-care ipilimumab plus nivolumab, positioning the therapy as a potential new standard and providing Scancell with a clearer late-stage development path and partnering and financing opportunities.

The most recent analyst rating on (GB:SCLP) stock is a Hold with a £14.00 price target. To see the full list of analyst forecasts on Scancell Holdings stock, see the GB:SCLP Stock Forecast page.

Scancell Sets Date for Interim Results as Cancer Immunotherapy Portfolio Advances

Scancell Holdings will publish its interim financial results for the six months to 31 October 2025, alongside a post-period business update, on 29 January 2026, and management will host a live webcast for analysts and investors the same afternoon. The announcement underscores ongoing clinical and strategic progress across Scancell’s oncology immunotherapy portfolio, including its biomarker-driven development path for melanoma candidate iSCIB1+, the broad Phase 2 programme for Modi-1 in solid tumours, and the external validation of its GlyMab antibody platform through existing licences with Genmab, developments that are likely to be of close interest to investors tracking its transition toward later-stage and potentially registrational studies.

The most recent analyst rating on (GB:SCLP) stock is a Hold with a £13.50 price target. To see the full list of analyst forecasts on Scancell Holdings stock, see the GB:SCLP Stock Forecast page.

Scancell’s iSCIB1+ Shows Promising Results in Melanoma Trial

Scancell Holdings has announced positive updated data from its SCOPE Phase 2 trial, demonstrating that its iSCIB1+ therapy, in combination with standard checkpoint inhibitors, significantly improves progression-free survival (PFS) in patients with advanced melanoma. The PFS rate of 74% at 16 months surpasses the standard of care’s 50% at 11.5 months, and early overall survival data shows a 14% improvement. These results support further development of iSCIB1+ for late-stage trials, with regulatory feedback aligning on trial design and endpoints. The announcement positions Scancell favorably in the immunotherapy market, potentially redefining the standard of care for melanoma and enhancing patient outcomes.

Scancell’s iSCIB1+ Shows Promising Results in Melanoma Treatment

Scancell Holdings announced positive Phase 2 trial results for their iSCIB1+ Immunobody® DNA active immunotherapy in treating late-stage melanoma, presented at the SITC 2025 meeting. The trial showed a progression-free survival rate of 78% at 11 months, significantly higher than the historical 46% with existing therapies, positioning iSCIB1+ as a transformative treatment option. The company plans to accelerate development, including regulatory discussions and randomized studies set to begin in 2026, potentially expanding treatment to 80% of late-stage melanoma patients.

Scancell Holdings Successfully Passes AGM Resolutions

Scancell Holdings announced that all resolutions at their Annual General Meeting were passed, marking a positive step for the company. This development supports Scancell’s ongoing efforts in advancing their immunotherapy platforms, which could enhance their position in the biotechnology industry and benefit stakeholders by potentially offering innovative cancer treatments.