The Coronavirus has become a health threat across the globe and as per World Health Organization (WHO) until now this pandemic has resulted in over 72,744 deaths and infected more than 1,282,931 worldwide in just a few months (8 April 2020, 1:57 GMT, Source: WHO). As of this writing, there is no approved treatments or vaccines specifically for novel coronavirus. This pandemic has impacted many businesses, including the healthcare industry, households and policymakers all over the world.
However, one ASX listed clinical-stage company progressing remarkably in developing personalised treatments for cancer, Prescient Therapeutics Limited (ASX:PTX) has revealed that its operations remain unaffected due to the Coronavirus pandemic.
The Company has a robust clinical pipeline with two drug candidates under clinical research- PTX 100 and PTX 200.
On 3 April 2020, Prescient updated the market that its operations on account of the COVID-19 pandemic remain unaffected. The industry-wide challenges and unprecedented uncertainty prevents the Company from providing any guidance. However, the Company mentioned that it has not experienced a major disruption to operations as yet.
Further, the Company stated that it is in regular contact with its clinical study sites for monitoring the COVID-19 management and the potential impact on clinical studies. The supply chain and logistics of Prescient are currently unaffected, with supplies of drug available to its clinical trial sites.
Although the preclinical and research projects of PTX are not currently impacted, the Company observes that laboratories and other research services are progressively short-staffed, unstaffed, or momentarily shut down.
CEO and Managing Director of Prescient, Steven Yatomi-Clarke, stated that-
Although it is undoubtedly not “business as usual” for everyone, operations of Prescient have been comparatively remained unaffected by COVID-19 so far. Moreover, the Company consider this signifies the clinical necessity for novel therapies in these areas, and the dedication of investigators to maintain enrolment attempts, notwithstanding the more extensive disruptions of this pandemic. He also added that this is not certainly indicative of any upcoming impacts during these turbulent times, and the Company continue to monitor this condition meticulously.
During this turmoil, Prescient continues its focus towards the growth with vigorous clinical-stage developments and the Company is closely monitoring the current situation. So far, the supply chain and logistics of Prescient remains unaffected, and the Company is focused on business development activities for establishing considerable long-term value for its shareholders.
On 8 April 2020, Prescient's stock closed the days’ trade at AUD 0.035 up by 2.941 per cent with a market capitilisation of AUD 13.4 million (AEST: 12:02 PM).
To know more about Prescient Therapeutics Limited, click here.
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