Prescient Therapeutics (ASX:PTX), a clinical stage oncology company developing targeted therapies to treat cancer, has successfully raised $6.8 million through its Share Purchase Plan (SPP). The company announced that shares issued under the SPP are expected to be allotted on Monday, 4th August 2025. The funds will be used to advance the clinical development of Prescient’s lead asset, PTX-100, through Phase 2 clinical trials, with the goal of achieving regulatory approval.
The SPP proceeds will significantly bolster Prescient’s cash reserves, enabling the company to continue its clinical trials and development of PTX-100, a first-in-class cancer treatment. Prescient is focused on progressing this therapy through the necessary clinical stages to make it available to patients with unmet medical needs. The company has entered a trading halt to facilitate a follow-on placement to sophisticated and professional investors.
The placement shares are priced at $0.04, matching the SPP price, which represents an 11.1% discount to the last traded price on the ASX as of 28 July 2025. The company is utilising part of its placement capacity under Listing Rule 7.1 for this placement. This follows requests from shareholders who wanted to invest more than the $30,000 limit available under the SPP.
Prescient CEO James McDonnell expressed his gratitude to shareholders for their strong support of the SPP, stating it will enable the acceleration of the PTX-100 Phase 2 clinical plan. McDonnell added that this is a pivotal moment for the business as it progresses towards its commercialisation objectives, expressing excitement about upcoming milestones.
