Prescient’s Loss Widens 63% as PTX-100 Trial Progresses, $9.85M Raised
Prescient Therapeutics reported a 62.8% increase in half-year losses to nearly $4 million, driven by intensified clinical development of its PTX-100 cancer therapy. The company bolstered its balance sheet with a $9.85 million capital raise while securing key regulatory milestones in Europe and the US.
- 62.8% increase in half-year loss to $3.99 million
- Raised $9.85 million via Placement and Share Purchase Plan
- Positive Phase 1b PTX-100 data with 43% response rate in CTCL patients
- EMA grants Orphan Drug Designation and CTIS trial approval for PTX-100
- R&D Tax Incentive refund of $4.36 million received post period
Financial Performance and Capital Strengthening
Prescient Therapeutics Limited has reported a significant widening in its half-year loss, rising 62.8% to $3.99 million for the six months ended 31 December 2025. This increase reflects heightened clinical trial and development expenses, particularly for its lead oncology candidate, PTX-100, alongside increased share-based payment costs following new option grants.
Despite the loss, the company successfully raised $9.85 million before costs through a combination of a Placement and Share Purchase Plan, substantially boosting net assets to $17 million. This capital injection is critical to sustaining Prescient’s ongoing clinical programs and regulatory activities.
Clinical Progress with PTX-100
Prescient’s flagship drug PTX-100, targeting relapsed/refractory Cutaneous T Cell Lymphoma (r/rCTCL), showed encouraging results in its Phase 1b trial. Among seven evaluable patients, the therapy achieved a 43% overall response rate and a 100% clinical benefit rate, with an average response duration exceeding a year. Importantly, no serious adverse events were linked to the treatment, underscoring its tolerability.
Progress continued with the Phase 2a trial, activating six clinical sites in the US and three in Australia, with six patients dosed by the end of the period. Regulatory momentum also accelerated: the European Medicines Agency granted Orphan Drug Designation for PTX-100 in CTCL, and the European Clinical Trials Information System authorised the trial’s initiation in Europe. These follow earlier US FDA Fast Track Designation, positioning PTX-100 well for expedited development pathways.
Broader Pipeline and Research Initiatives
Beyond PTX-100, Prescient advanced its PTX-200 program with expert medical review of clinical trial data in Acute Myeloid Leukaemia, preparing for a clinical study report. Research collaborations at the Peter MacCallum Cancer Centre continued to explore CellPryme A’s potential to modulate the tumour microenvironment, potentially enhancing combination therapy efficacy.
The OmniCAR platform also demonstrated promising preclinical safety and efficacy profiles, preserving strategic flexibility amid evolving sector dynamics. Prescient’s ongoing engagement with potential partners and presentations at key biotech forums signal active efforts to commercialise its innovative therapies.
Operational and Corporate Developments
Operating expenses rose to $5.15 million, driven by clinical trial activity and share-based payments. The company issued over 200 million new shares and nearly 47 million unlisted options to investors, directors, and employees during the half-year, reflecting a focus on incentivisation and capital structure optimisation.
Prescient also received a $4.36 million R&D Tax Incentive refund in January 2026, providing additional liquidity. The company reported no dividends and maintained a strong cash position of $9.75 million at period end, supporting its clinical and development programs.
Bottom Line?
Prescient’s strengthened balance sheet and regulatory progress set the stage for upcoming clinical data releases that will be pivotal for its future trajectory.
Questions in the middle?
- Will upcoming Phase 2a PTX-100 data confirm early clinical benefits and safety?
- How will Prescient leverage its EMA Orphan Drug Designation to attract partnerships or licensing deals?
- What are the timelines and prospects for advancing OmniCAR and CellPryme programs into clinical development?
