Clinical-stage oncology company Prescient Therapeutics Ltd (ASX:PTX, OTC:PSTTF) has provided an update on its share placement announced on July 31, 2025.
PTX, which is developing personalised cancer therapies, previously secured commitments of approximately A$3 million from sophisticated and professional investors. To date, Prescient has received about A$2.5 million, with the second tranche of funding due by August 22, 2025.
A total of 63,212,500 new ordinary shares, relating to the first tranche, were issued on August 8, 2025, at A$0.04 per share.
Prescient raises A$6.8 million to advance PTX-100 Phase 2 trial
The placement update comes after Prescient secured A$6.8 million through a Share Purchase Plan (SPP) to accelerate Phase 2 clinical development of its lead oncology candidate, PTX-100.
Investor demand exceeded the SPP cap, prompting the company to enter a trading halt to launch the follow-on placement at an 11.1% discount to the last traded price on July 28, 2025.
Read more: Prescient raises A$6.8M through Share Purchase Plan, launches placement offer
Funding to progress regulatory pathway
Proceeds will be directed towards advancing PTX-100, a first-in-class inhibitor of the cancer growth enzyme geranylgeranyl transferase-1 (GGT-1), towards regulatory approval.
The ongoing Phase 2 clinical trial is targeting Cutaneous T cell lymphoma (CTCL) and is open to patient enrolment worldwide.
PTX-100 has been granted both Orphan Drug Designation and Fast Track Designation by the US Food and Drug Administration for the treatment of relapsed or refractory mycosis fungoides.