Scancell, CDialogues and Kodal Minerals

 “The blue-chip index bounced back and broke through the 6000 points barrier following a suspension in EU referendum campaigning and led by a strong rebound in banking shares,” says AJ Bell Investment Director Russ Mould.
“Drug developer Scancell’s shares slumped after it suspended dosing patients in a trial of its skin cancer drug SCIB1. Scancell’s quality control analysis revealed that the stored drug product was no longer within the original specification and not suitable for further use. It is likely to be 9-12 months before new SCIB1 material will be available for clinical use. Scancell’s shares were down by over 16% in lunchtime trading.
“CDialogues’ shares were down by more than a quarter after it revealed the customer that provides all the group’s revenues intends to terminate its four contracts. CDialogues, which has been providing mobile marketing and campaign services through Numbase to mobile companies in Lebanon and Kuwait, had previously flagged that it was unlikely to win any new contracts until market conditions improved. The group has a strong cash position and no debt and will now review its business and assets.
“Kodal Minerals remains on the acquisition trail after cutting full-year losses. Kodal bought a suite of West African gold projects last month and continues to look for and appraise new projects. Kodal raised £680,000 last month to finance further exploration work and other corporate costs.”

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