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Scancell shares drop 27% amid plans for Nasdaq listing via US merger with $89M funding boost

Market News
24 Jul 2026
Proactive Investors - Finance
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Bullish
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Scancell Holdings saw a 27% share drop this week as it prepares for a Nasdaq listing through a reverse takeover merger with US company Neuphoria Therapeutics. Scancell shareholders will retain 85.5% ownership in the combined group, gaining access to deeper US biotech markets and funding. The company expects up to $89 million in new funds to advance its lead melanoma treatment into phase III trials, which could justify the current dilution. This move positions Scancell for better valuation and growth opportunities compared to the AIM market in London.

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