Prescient Therapeutics has extended its Share Purchase Plan closing date to 22 July 2025, aiming to raise up to A$7 million to advance its targeted cancer therapy PTX-100 through Phase 2 clinical trials.
- SPP closing date extended to 22 July 2025
- Target to raise up to A$7 million from eligible shareholders
- Funds directed to Phase 2 development of PTX-100 cancer therapy
- Shares offered at 16.7% discount to 15-day VWAP
- Upcoming shareholder briefing scheduled for 17 July 2025
Extension of Share Purchase Plan
Prescient Therapeutics (ASX – PTX), the Melbourne-based biotechnology company specialising in targeted oncology therapies, has announced an extension of its Share Purchase Plan (SPP) closing date to Tuesday, 22 July 2025. The move follows feedback from shareholders who requested additional time to participate due to delays in accessing documentation.
The SPP aims to raise up to A$7 million by offering eligible shareholders the opportunity to purchase new fully paid ordinary shares at a 16.7% discount to the volume weighted average price (VWAP) over the 15 trading days prior to the SPP announcement. Shareholders registered as of 30 June 2025 can apply for up to A$30,000 worth of shares under this plan.
Strategic Use of Funds
The capital raised will be directed towards advancing PTX-100, Prescient’s lead targeted therapy compound, through Phase 2 clinical development. PTX-100 is a first-in-class inhibitor targeting the geranylgeranyl transferase-1 (GGT-1) enzyme, which plays a critical role in oncogenic pathways. The drug has shown promising safety and early efficacy signals in Phase 1 and Phase 1b studies, including in hematological malignancies such as T-cell lymphomas.
Notably, PTX-100 has received orphan drug designation and fast track status from the US Food and Drug Administration (FDA) for the treatment of relapsed or refractory cutaneous T-cell lymphoma (CTCL), underscoring its potential clinical importance.
Engaging Shareholders and Market
To support shareholder engagement, Prescient has scheduled a live interactive briefing on 17 July 2025, where CEO James McDonnell will discuss the SPP and the company’s plans for the use of proceeds. This briefing aims to clarify the investment opportunity and encourage participation ahead of the revised closing date.
The updated timetable anticipates announcing SPP results on 28 July, with the issue and trading of new shares expected by the end of July and early August respectively. The company has also provided easy access for shareholders to request personalised application forms electronically.
Broader Pipeline and Innovation
Beyond PTX-100, Prescient is developing complementary cell therapy platforms including CellPryme-M and CellPryme-A, designed to enhance the efficacy and persistence of adoptive cell therapies such as CAR-T. Additionally, the OmniCAR platform offers a modular, universal immune receptor system that could revolutionise multi-antigen targeting in cancer immunotherapy.
These innovations position Prescient as a notable player in the evolving oncology biotech landscape, with the SPP funding critical to sustaining momentum in clinical development and technology advancement.
Bottom Line?
The extended SPP offers shareholders a timely chance to back Prescient’s promising PTX-100 trial, with upcoming clinical milestones set to shape the company’s near-term outlook.
Questions in the middle?
- Will the SPP reach its $7 million target given the extension?
- How will Phase 2 trial results impact PTX-100’s regulatory pathway and valuation?
- What progress can be expected soon from Prescient’s cell therapy platforms?