Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF) is targeting A$7 million through a Share Purchase Plan (SPP) to fund Phase 2 development of its lead compound PTX-100.
The funds will go toward advancing potential regulatory approval for PTX-100, Prescient’s first-in-class targeted therapy. The offer is open to eligible shareholders as of 7 pm AEST on June 30, and full participation details will be outlined in an SPP Offer Booklet.
Prescient is developing multiple oncology platforms, including:
- PTX-100: A GGT-1 inhibitor in Phase 2 trials for cutaneous T-cell lymphoma (CTCL).
- CellPryme-M & CellPryme-A: Technologies enhancing T-cell therapy efficacy and tumour microenvironment modulation.
- OmniCAR: A universal immune receptor platform enabling modular CAR-T therapies, now in preclinical development.
Eligible shareholders can apply for up to A$30,000 worth of new fully paid ordinary shares. Shares will be offered at A$0.040 each — equating to a 16.7% discount to the 15-day VWAP and a 9.1% discount to the closing price on June 30. Full offer terms will be available in the upcoming SPP Offer Booklet.
Use of funds: Advancing PTX-100
Proceeds will accelerate the clinical development of PTX-100, an inhibitor of geranylgeranyl transferase-1 (GGT-1), which disrupts cancer cell survival pathways.
The compound has shown promise in early trials, particularly in treating T-cell lymphomas, and holds both Orphan Drug and Fast Track Designations from the US Food and Drug Administration (FDA).
Just over a month ago, Prescient started its Phase 2A clinical trial of PTX-100 in patients with relapsed or refractory cutaneous T-cell lymphoma (CTCL), marking a new stage in the development of its targeted cancer therapy.
The company confirmed that the first patient has been dosed in the trial, following positive outcomes from a previous Phase 1B study.
PTX-100 is a first-in-class inhibitor of geranylgeranyl transferase-1, designed to disrupt the Ras signalling pathway, which is implicated in more than 20% of all cancers.
Chief executive officer James McDonnell spoke with Proactive following the trial initiation to discuss the significance of the milestone and its potential impact for patients with CTCL.
How to participate
Eligible shareholders may apply via BPAY or by returning the Application Form with payment by 5 pm AEST on July 15, 2025. The application form can be requested via the investor portal.
Reach Markets Pty Ltd is managing the SPP and can be contacted for assistance.
Key dates
