Shares in clinical stage oncology company Prescient Therapeutics (ASX:PTX) spiked as much as 27.8% yesterday in high-volume trading before closing 22% up at A$0.11.
Volumes on the day were around 1.8 million trades, versus a range of 11,000 to about 300,000 trades in recent sessions.
The performance prompted a query this morning from the ASX and a response from Prescient saying it had no explanation for the spike.
Earlier this month, however, the company demonstrated the strength of its portfolio with a new government approval setting up new treatment trials.
The company has secured U.S. Food and Drug Administration (FDA) approval for its Investigational New Drug (IND) application for the forthcoming Phase Ib and Phase II clinical trial and program in acute myeloid leukemia (AML).
Results from an earlier trial were promising and demonstrated that the company’s PTX-200 treatment may have significant efficacy in AML.
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