Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF) has raised A$6.8 million via a Share Purchase Plan (SPP) to accelerate Phase 2 clinical development of its lead cancer therapy candidate, PTX-100. In response to investor interest beyond the SPP cap, the company has entered a trading halt to launch a follow-on placement to sophisticated and professional investors at the same share price of A$0.04 — an 11.1% discount to the last traded price on July 28, 2025.
The funds will support PTX-100’s continued development toward regulatory approval.
“This is a pivotal moment for the business on its path towards our commercialisation objectives, and I am genuinely excited about the near-term milestones on this journey,” Prescient’s chief executive officer James McDonnell said.
SPP strengthens financial position for Phase 2 trial
Prescient expects shares from the A$6.8 million Share Purchase Plan to be allotted on August 4, 2025. Proceeds will be allocated to the advancement of PTX-100, a first-in-class inhibitor targeting the cancer growth enzyme geranylgeranyl transferase-1 (GGT-1).
The ongoing Phase 2 clinical trial focuses on treating Cutaneous T cell lymphoma (CTCL), with enrolment open globally.
PTX-100 has already received Orphan Drug Designation and Fast Track Designation from the US Food and Drug Administration for relapsed or refractory mycosis fungoides.
Advancing precision oncology
Prescient is a clinical-stage oncology company focused on developing personalised cancer therapies. Its portfolio includes:
- PTX-100, a targeted therapy disrupting oncogenic Ras pathways.
- CellPryme-M, which enhances T-cell therapy durability and tumour targeting.
- CellPryme-A, an adjuvant designed to improve CAR-T cell efficacy by modulating the tumour microenvironment.
- OmniCAR, a universal immune receptor platform enabling modular and controllable CAR-T cell therapies.