Prescient Therapeutics Secures $9.8M to Propel PTX-100 Cancer Trial Progress
Prescient Therapeutics has raised nearly $10 million through a placement and share purchase plan to advance its promising PTX-100 targeted cancer therapy into pivotal clinical stages.
- Completed $3 million placement and $6.9 million share purchase plan
- Total capital raise of $9.8 million to fund PTX-100 Phase 2a clinical trial
- Shares issued at 4 cents, allotment expected on 8 August 2025
- Funds aimed at progressing PTX-100 toward regulatory approval
- Company developing multiple oncology platforms including CellPryme and OmniCAR
Capital Raise to Accelerate Clinical Development
Prescient Therapeutics Limited (ASX – PTX), a clinical-stage oncology company focused on targeted cancer therapies, has successfully completed a combined capital raise of $9.8 million. This comprises a $3 million placement to sophisticated investors and a $6.9 million share purchase plan (SPP), both priced at 4 cents per share. The new shares from the placement are expected to be allotted on 8 August 2025.
The fresh capital injection is earmarked to support the advancement of Prescient’s lead candidate, PTX-100, through its Phase 2a clinical trial. PTX-100 is a first-in-class inhibitor targeting the GGT-1 enzyme, which plays a critical role in oncogenic pathways. By disrupting these pathways, PTX-100 aims to induce cancer cell death, addressing significant unmet medical needs in oncology.
Strategic Focus on PTX-100 and Beyond
Prescient’s CEO, James McDonnell, emphasized the importance of this funding milestone, noting that the Phase 2a trial represents a crucial step toward potential regulatory approval and eventual patient access. The company plans to leverage these funds to progress PTX-100 into a pivotal Phase 2b study, which could serve as a registrational trial for market entry.
Beyond PTX-100, Prescient is also developing innovative cell therapy platforms, including CellPryme-M and CellPryme-A, designed to enhance T-cell therapies’ efficacy and durability. Additionally, the OmniCAR platform offers a modular, universal immune receptor system that could revolutionize multi-antigen targeting in cancer treatment.
Regulatory and Market Outlook
PTX-100 has already attracted regulatory attention, having received Fast Track Designation and Orphan Drug status from the US FDA for certain T-cell lymphoma indications. These designations could expedite its development and approval process, potentially accelerating patient access.
While the capital raise strengthens Prescient’s financial position, the company remains exposed to the inherent risks of clinical development, including trial delays, regulatory hurdles, and the need for further data to support efficacy and safety. Investors will be watching closely for upcoming clinical milestones and regulatory updates that could validate PTX-100’s therapeutic potential.
Bottom Line?
With nearly $10 million raised, Prescient is poised to push PTX-100 closer to pivotal trials, but clinical and regulatory challenges remain ahead.
Questions in the middle?
- What are the detailed timelines and endpoints for the upcoming Phase 2b PTX-100 trial?
- How will the capital raise impact share dilution and Prescient’s financial runway?
- What are the prospects and timelines for advancing the CellPryme and OmniCAR platforms?
