Prescient Therapeutics takes cap raise to $9.8m to fast-track cancer treatment

Prescient has topped up its $6.9 million SPP with a $3 million placement to accelerate its oncology pipeline.

A $3m placement has added to Prescient’s recent $6.9m SPP, lifting total funds raised to $9.8m. Pic: Getty Images

• Investors back Prescient with applications for $3m placement

• Brings total funds raised from the placement and recent SPP to $9.8m

• The company will use the funds to support its cancer treatment

 

Special Report: Prescient Therapeutics has raised $3m in a placement to sophisticated and professional investors following a $6.9m SPP for a total $9.8m to advance its pioneering cancer treatment therapies.

The clinical stage oncology company will use the funds to support the continued Phase 2 clinical development of its targeted therapy, PTX-100, which is progressing through clinical trials toward potential regulatory approval and access for patients.

Two dosage levels of PTX-100 are being evaluated in an open-label design in up to 40 patients with relapsed or refractory cutaneous T-cell lymphoma (CTCL) across multiple sites in Australia, the US and Europe in its current Phase 2a study.

CTCL is a rare cancer affecting white blood cells known as T cells, which normally help regulate the immune system.

In CTCL, these cancerous T Cells migrate to the skin, where they grow, divide and attack uncontrollably.

Treatment options remain limited for patients whose disease has relapsed or become resistant to therapy.

On a mission to improve outcomes for cancer patients

More than 74m shares are expected to be issued under the placement at 4c per share, the same price as the SPP.

Prescient Therapeutics (ASX:PTX) CEO James McDonnell said this marks a significant step forward for the company and empowers the advancement of PTX-100 through Phase 2a development.

“I would like to thank all investors for their support of Prescient and its mission to improve outcomes for cancer patients,” he said.

“We eagerly look forward to the milestones ahead with the potential to turn the Phase 2b clinical study into a pivotal registrational study and setting the stage for PTX-100’s potential market entry.”

This article was developed in collaboration with Prescient Therapeutics, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.