SCANCELL LIMITED

• ⚠

  Material uncertainty over going concern

  Excluding potential financing from these sources, the Group's two-year cash flow forecast to 30 April 2027 with cash preservation measures in areas of uncommitted expenditure suggests it could continue to operate with cash currently held until August 2026, which is less than a year from the date of approval of these financial statements. While the Group has historically succeeded in securing further cash, financing from such sources is dependent on market conditions and the decisions of the Group's existing shareholders, potential investors, and existing or future potential collaboration partners. These stakeholders and potential receipts are not controlled by the Group, and material uncertainties therefore exist which may cast significant doubt on the Group's and the Company's ability to continue as a going concern.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Excluding potential financing from these sources, the Group's two-year cash flow forecast to 30 April 2027 with cash preservation measures in areas of uncommitted expenditure suggests it could continue to operate with cash currently held until August 2026, which is less than a year from the date of approval of these financial statements. While the Group has historically succeeded in securing further cash, financing from such sources is dependent on market conditions and the decisions of the Group's existing shareholders, potential investors, and existing or future potential collaboration partners. These stakeholders and potential receipts are not controlled by the Group, and material uncertainties therefore exist which may cast significant doubt on the Group's and the Company's ability to continue as a going concern.”

Group structure

1. SCANCELL LIMITED · parent
   1. GlyMab Therapeutics Limited 100% · to hold antibody assets and platforms providing focused resources and strategic optionality for further development.

Significant events

• “The positive Phase 2 SCOPE study results show the significant potential for iSCIB1+ to set the new standard for the treatment of advanced melanoma.”
• “Following these interim SCOPE results, iSCIB1+ has been selected for further development. This decision expands the potential addressable population to 80% of late-stage melanoma patients, which is a significant uplift from the previous 30-40% with the first generation SCIB1.”
• “The commercial-scale good manufacturing practice (GMP) manufacturing process developed for iSCIB1+ yields a high-quality formulation with long term stability.”
• “We have scheduled discussions with US, UK and European regulators, with the intention to initiate a randomised study in 2026.”
• “Moditope Modi-1 has demonstrated early clinical validation in head and neck cancer and highly anticipated clinical readouts of Modi-1 in combination with checkpoint inhibitors for advanced renal cell carcinoma (RCC) are expected later this year.”
• “During the period, a second commercial license agreement with Genmab was agreed for a total of $6 million in upfront payments. This agreement has the potential for further milestones totalling $630 million and low single-digit royalties on commercial sales.”
• “GlyMab Therapeutics Limited incorporated as a wholly owned subsidiary with the intention to hold antibody assets and platforms providing focused resources and strategic optionality for further development.”
• “Modi-1 Moditope patent approved by the U.S. Patent and Trademark Office (USPTO).”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  +96.3%

  £854,000 → £1,676,000

• Net assets

  +275.4%

  -£2,661,000 → £4,667,000

• Employees

  -1.6%

  61 → 60

• Operating profit

  +21.2%

  -£17,266,000 → -£13,613,000

• Profit before tax

  +21.1%

  -£17,290,000 → -£13,638,000

• Wages

  +9%

  £4,456,000 → £4,856,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers