Prescient Therapeutics Launches $7M SPP at 16.7% Discount to Fund PTX-100 Trials
Prescient Therapeutics has launched a $7 million Share Purchase Plan at a notable discount to fund the next phase of clinical trials for its promising PTX-100 cancer therapy. The capital raise aims to accelerate progress toward regulatory approval and patient access.
- Share Purchase Plan targets $7 million at $0.040 per share
- 16.7% discount to 15-day volume weighted average price
- Funds dedicated to advancing PTX-100 through Phase 2 clinical trials
- PTX-100 holds FDA Orphan Drug Designation for Cutaneous T Cell Lymphomas
- Reach Markets appointed as lead manager with associated fees and options
Capital Raise to Fuel Clinical Progress
Prescient Therapeutics (ASX, PTX), a clinical-stage oncology biotech, has announced a $7 million Share Purchase Plan (SPP) priced at $0.040 per share, representing a 16.7% discount to the recent 15-day volume weighted average price. This capital raise is designed to support the advancement of PTX-100, the company's lead targeted cancer therapy, through Phase 2 clinical development.
The funds raised will be pivotal in pushing PTX-100 closer to regulatory approval and eventual patient access, addressing significant unmet medical needs in oncology. PTX-100 is a first-in-class compound that inhibits geranylgeranyl transferase-1, disrupting key oncogenic pathways and inducing cancer cell death. It has already demonstrated encouraging safety and efficacy signals in Phase 1b studies.
Strategic Positioning and Market Confidence
PTX-100 has received Orphan Drug Designation from the US FDA for Cutaneous T Cell Lymphomas (CTCL), a rare and difficult-to-treat cancer subtype. This designation not only underscores the therapy's potential but also offers regulatory incentives that could expedite its development and commercialisation.
The SPP is open to eligible shareholders with a maximum subscription limit of A$30,000, and Reach Markets has been appointed as the lead manager. Reach Markets will receive a 6% capital raising fee and options as part of their engagement, aligning their interests with the success of the raise.
Engaging Shareholders and Future Outlook
Prescient’s CEO, James McDonnell, will host a live shareholder briefing on 4 July 2025 to discuss the SPP details, the use of funds, and the company’s clinical development plans. This engagement reflects the company’s commitment to transparency and shareholder involvement as it navigates this critical growth phase.
Beyond PTX-100, Prescient is also developing complementary cell therapy platforms, including CellPryme-M, CellPryme-A, and OmniCAR, which aim to enhance the efficacy and durability of immunotherapies. The infusion of new capital will likely support these innovative programs alongside the lead candidate.
While the capital raise is a positive step, the inherent risks of clinical development remain, including trial outcomes and regulatory hurdles. Investors will be watching closely as Prescient advances PTX-100 through Phase 2 trials and seeks to translate early promise into tangible clinical and commercial success.
Bottom Line?
Prescient’s $7 million raise marks a decisive push toward clinical milestones that could redefine its oncology prospects.
Questions in the middle?
- What will be the uptake rate among eligible shareholders in the SPP?
- How will Phase 2 trial results influence PTX-100’s regulatory timeline and market potential?
- What are the prospects and timelines for Prescient’s complementary cell therapy platforms?