Prescient Therapeutics Ltd (ASX:PTX) has extended the closing date of its share purchase plan (SPP) by one week, giving eligible shareholders additional time to participate in the raising of up to $7 million.
The clinical-stage oncology company's SPP will now close at 5 pm AEST on Tuesday, September 15, rather than September 8, after several shareholders requested more time because of delays in receiving offer documentation.
Funds raised will be used to advance Prescient’s lead targeted cancer therapy PTX-100 beyond an upcoming Dose Optimisation Committee meeting, which remains on track to convene in December 2026 and provide guidance on continuation of the study and further development.
SPP priced at 18.8% discount
Under the SPP, new fully paid ordinary shares will be issued at $0.065 each, representing an 18.8% discount to the 10-day volume-weighted average price before the offer was announced.
Eligible shareholders registered at 7 pm AEST on August 24 can apply for up to $30,000 worth of shares.
Following the extension, Prescient expects to announce the SPP results on September 21, issue the new shares on September 22 and have them begin trading, subject to ASX listing rules, on September 23.
Chief executive James McDonnell will also host a shareholder briefing on September 10 to discuss the SPP, use of funds and participation process.
PTX-100 advancing in T-cell lymphoma
PTX-100 is a first-in-class compound designed to block geranylgeranyl transferase-1, or GGTase-1, an enzyme involved in cancer-promoting Ras signalling pathways.
The treatment has demonstrated safety and early clinical activity in previous studies and recently completed a Phase 1b expansion cohort in T-cell lymphomas.
Prescient is now recruiting globally for a Phase 2 study in cutaneous T-cell lymphoma, with up to 40 patients expected to enrol in the Phase 2a portion.
The US Food and Drug Administration has granted PTX-100 Orphan Drug Designation for all T-cell lymphomas and Fast Track Designation for adults with relapsed or refractory mycosis fungoides.
Prescient is also developing the OmniCAR universal immune receptor platform and its CellPryme technologies, which are designed to enhance the performance and durability of cell therapies.