Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF) has now opened its Share Purchase Plan (SPP) to raise up to A$7 million (before costs), offering eligible shareholders the opportunity to acquire shares at A$0.04 each — a 16.7% discount to the 15-day volume weighted average price (VWAP) and 9.1% below the June 30 close.
The funds will go toward ongoing Phase 2 development of PTX-100, a targeted cancer therapy aimed at treating Cutaneous T-Cell Lymphoma (CTCL).
The SPP is open to shareholders with a registered address in Australia or New Zealand as at 7:00 pm (AEST) on June 30, 2025, and is expected to close at 5:00 pm (AEST) on July 15, 2025.
Eligible shareholders may apply for parcels of shares valued from A$5,000 to A$30,000. The allotment of new shares is scheduled for July 22, 2025, with quotation expected on July 23. There are no brokerage or transaction fees. Participation is voluntary, and scale-back provisions may apply depending on the level of demand and regulatory considerations.
Use of funds and development goals
Proceeds will go toward the clinical development of PTX-100 through Phase 2 trials.
PTX-100 has Orphan Drug and Fast Track designations from the United States Food and Drug Administration (FDA) and has demonstrated promising safety and efficacy in prior studies.
The capital raised will also support working capital and offer-related costs as Prescient targets a US$1.8 billion T-cell lymphoma market.