Prescient Therapeutics Opens A$7M Share Plan to Accelerate Cancer Therapy Trials

July 02, 2025 03:53 PM AEST | By Team Kalkine Media

Google News:

Prescient Therapeutics Opens A$7M Share Plan to Accelerate Cancer Therapy Trials — Image source: Shutterstock

Recent News

BingX Partners with Cornix to Elevate Automated Trading Experience

MiL.k Launches USD1 Loyalty Hub on BNB Chain, Bringing Real-World Rewa...

Fangzhou Tops China's App Store Chart for Healthcare Apps

How to Invest in the ASX 200 for Long-Term Growth and Diversification

Highlights

Prescient (ASX:PTX) launches A$7M Share Purchase Plan

Funds directed toward Phase 2 trials of targeted cancer therapy PTX-100

PTX-100 holds Orphan Drug and Fast Track status from US FDA

Prescient Therapeutics (ASX:PTX) has initiated a Share Purchase Plan (SPP) aimed at raising up to A$7 million (before costs), as it moves forward with its clinical development goals. This funding round supports the continued advancement of PTX-100, the company’s lead immuno-oncology candidate targeting Cutaneous T-Cell Lymphoma (CTCL), a rare form of cancer.

The SPP offers eligible shareholders an opportunity to acquire new shares at A$0.04 per share — a 16.7% discount to the 15-day volume weighted average price (VWAP) and 9.1% below the closing price as of June 30, 2025. The offer is open to shareholders with an Australian or New Zealand address on record as of 7:00 pm (AEST) on June 30. The plan will close at 5:00 pm (AEST) on July 15, 2025.

Participants can apply for parcels ranging from A$5,000 to A$30,000, with no brokerage or transaction fees involved. Share allotment is scheduled for July 22, with quotation of the new shares expected on July 23. Depending on demand and regulatory parameters, scale-back provisions may apply.

Focus on Advancing PTX-100

Proceeds from the SPP will primarily fund the Phase 2 trials of PTX-100. This therapy targets a specific cancer pathway and has shown promising safety and efficacy data in earlier studies. The compound has already received Orphan Drug and Fast Track designations from the U.S. Food and Drug Administration (FDA), highlighting its potential in addressing unmet clinical needs in rare cancers.

The Phase 2 trial is focused on Cutaneous T-Cell Lymphoma, a market estimated to be worth US$1.8 billion globally. Alongside clinical development, the raised capital will also help cover general working capital needs and costs associated with running the offer.

Prescient's strategic emphasis on precision oncology and immunotherapy continues to progress, and this funding initiative reflects the company’s commitment to delivering targeted cancer solutions with global market potential.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content 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 stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music 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/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.