Scancell's amazing rise continues - UPDATE

Scancell, the developer of therapeutic cancer vaccines, continued its amazing price rise in early morning trade on Monday to become a 10-bagger in only a few months.

It has apparently been propelled by hopes its news technology platform for anti-cancer vaccines, called Moditope, will be able to successfully produce an anti-cancer vaccine that destroys tumours without toxicity.

David Lowery, equity analyst at Faraday Research told Digital Look that the development was "potentially ground-breaking" and that "If the discovery is as big as it sounds the shares are potentially worth several pounds."

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Canny investor David Newton, from the Helium Special Situations fund, has been a long term holder of the company and has a stake of 6.88%.

In mid-morning trade the shares stood at 59.5p, up 16.67% on the day. The share price is now 80% higher over the past month and up a whopping 1,000% over the last year.

CM