$69 postpage LB

Prescient Reports March 2020 Quarterly Update; Cash Reserves at $8.2 Million

  • April 17, 2020 01:14 PM AEST
  • Team Kalkine
Prescient Reports March 2020 Quarterly Update; Cash Reserves at $8.2 Million

Australian based clinical-stage Oncology company Prescient Therapeutics Limited (ASX:PTX), recently reported operating highlights and financial outcomes for the March quarter 2020.

Gold MTF non-AMP

The Company is engaged in the development of new drugs that demonstrate significant promise as potential innovative therapies for the treatment of challenging cancers that have developed resistant to front line treatment.

Quarterly Update for three months ended 31 March 2020

Prescient reported cash reserves of nearly $8.2 million and continues to operate its expenditures shrewdly. Moreover, the PTX-200 Phase 1b study and Phase 1b basket study of PTX-100 remains on track in the United States and Melbourne, respectively.

Furthermore, the Company mentioned that the quarter costs included the ongoing clinical studies for PTX-100 and PTX-200 along with manufacturing to ensure supply for clinical programs. PTX disclosed that the payments made to related parties of the entity and their accomplices amounted to nearly $183,000, including of expenses for compensation of directors, as well as on-costs for the quarter.

As previously mentioned, Prescient has already taken steps for mitigating certain costs, which includes exploring the migration of clinical study from the United States to Australia along with investigator-sponsored studies. The Company highlighted that this decision has proven appropriate, and the board continues to look at ways to advance Prescient’s significant work for clinicians as well as cancer patients while managing the resources of the Company.

Operations of Prescient Remain Unaffected Amid Turmoil

The Company unveiled that so far it has not had observed any material impact due to COVID-19 crisis on the progress of the clinical development programs. Moreover, it is in part owing to the importance of steadiness of cancer patients’ treatment.

PTX-200 Phase 1b study- The PTX-200 Phase 1b study in patients with relapsed and refractory Acute Myeloid Leukemia (AML) continues in the United States, as the Company pursues to provide new treatment options for this especially in the challenging patient population.

Phase 1b basket study of PTX-100- In Melbourne, Prescient’s Phase 1b basket study remains progressing under the leadership of Professor Miles Prince and recruitment are under process at Epworth HealthCare in patients with haematological and solid tumors.

TO KNOW MORE, DO READ: Prescient Therapeutics’ Operations Remain Unscathed by COVID-19 Pandemic

It is noteworthy to mention that Prescient continues its development towards the exploding field of cell therapy and CAR-T. As for expansion into exciting CAR-T therapies, Prescient is already working in collaboration with Carina Biotech. The Company would be sharing any updates related to cell therapy in due course.

Prescient Progressing Remarkably on Its Strategic Initiatives with A Robust Cash Balance

In spite of unprecedented global interruptions amid COVID-19, Prescient persists in working on several determined and strategic programs that are designed to build the strengths of the Company, to enhance long term value to its shareholder, to expand the product pipeline, and for confirming the leadership position in the area of targeted oncology.

Likewise, the Management and the Board of Prescient is actively evaluating the potential peripheral complementary and strategically valuable opportunities.

The Company highlighted that these are challenging times for many people in the community, as well as for investors. Remarkably, Prescient has all the things in place with its two promising clinical trials in multiple programs for establishing significant long-term value for its shareholder. The clinical trials of Prescient are progressing under the leadership of experts who are recognised leaders in their respective fields at the international level.

Moreover, the Company has a robust cash balance along with brilliant financial management.

In a nutshell, Prescient seems to be at the verge of setting a decent development silhouette, backed by its strong board and management team that brings in a diverse range of skills and experience, steering vision of the Company forward.

On 17 April 2020, PTX stock was trading at AUD 0.040, up 14%, with a market capitilisation of AUD 13.8 million.

To know more about Prescient Therapeutics Limited, click here.

To stay updated with PTX company activities and announcements, please update your details on their investor centre.

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.



The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK