Key Highlights

• Prescient Therapeutics Limited (ASX:PTX) has completed a Capital raising of about $6 million, combining a share purchase plan (SPP) for existing shareholders with a follow-on shortfall Placement to sophisticated and professional investors.

• The Melbourne-based clinical-stage oncology company announced the result on 23 September 2026.

• The SPP raised $4,798,108 after final reconciliation, while the placement raised $1,203,699.96.

• Shares under both offers were priced at $0.065 (6.5 cents).

Prescient Therapeutics Limited (ASX:PTX) has completed a capital raising of about $6 million, combining a share purchase plan (SPP) for existing shareholders with a follow-on shortfall placement to sophisticated and professional investors. The Melbourne-based clinical-stage oncology company announced the result on 23 September 2026.

The SPP raised $4,798,108 after final reconciliation, while the placement raised $1,203,699.96. Shares under both offers were priced at $0.065 (6.5 cents). Prescient said the money will strengthen its cash position and fund development of its lead drug candidate PTX-100 beyond the first Dose Optimisation Committee review of its Phase 2 trial, which is scheduled for December 2026.

The key numbers

According to the announcement, the capital raising breaks down as follows:

• Share Purchase Plan: $4,798,108, with shares expected to be allotted on or about Wednesday, 30 September 2026.

• Shortfall placement: $1,203,699.96 from sophisticated and professional investors, with approximately 18,518,453 new shares expected to be issued on or about the same date.

• Issue price: $0.065 per share for both the SPP and the placement.

• Combined total: circa $6 million.

The announcement did not state a discount to the prevailing share price. It also did not refer to any requirement for Shareholder approval for the placement shares.

How the raise came together

That update said the offer's closing date had been extended from 8 September to 18 September 2026 and identified Reach Markets Pty Ltd as lead manager. Reach Markets is also listed as the investor and media contact on the completion announcement.

With the SPP falling short of the $7 million ceiling, the company used a follow-on shortfall placement to bring the total to about $6 million. Prescient said the SPP "received continued support from existing Shareholders".

Use of funds

Prescient said the funds will provide additional money for the continued development of PTX-100 beyond the first Dose Optimisation Committee review in December 2026 and into the next phase of development. The committee will recommend the dose to be carried forward and provide guidance on continuation of the study.

The company said the program aims to progress, subject to clinical results, towards regulatory approval and broader patient access in an area of significant unmet medical need. That ambition is conditional on trial outcomes and regulatory decisions still to come.

What management said

Prescient CEO James McDonnell thanked shareholders "both existing and new, for their continued support of Prescient and our mission to improve outcomes for cancer patients."

He said: "This raise is an important step forward, funding the progress of PTX-100 through Phase 2a." McDonnell added that the company looks forward to milestones ahead, "including the opportunity to advance PTX-100 into a Phase 2b study with registrational potential and, ultimately, toward commercialisation - whether by bringing PTX-100 to market ourselves or through a partnering outcome."

About PTX-100 and the wider pipeline

PTX-100 is described by Prescient as a first-in-class compound that blocks an enzyme called geranylgeranyl transferase-1 (GGTase-1), which can contribute to cancer growth. The company said blocking this target disrupts oncogenic Ras pathways by inhibiting Rho, Rac and Ral signalling in cancer cells, leading to their death. Mutations in Ras pathways are believed to be involved in up to 22% of all cancers, according to the company.

Prescient said PTX-100 demonstrated safety and early clinical activity in a previous Phase 1 study and in a PK/PD basket study, and more recently completed a Phase 1b expansion cohort study in T-cell lymphomas, where the company said it showed encouraging efficacy and safety. The US FDA has granted PTX-100 Orphan Drug Designation for all T-cell lymphomas and Fast Track Designation for adults with relapsed or refractory mycosis fungoides, the most common subtype of cutaneous T-cell lymphoma (CTCL). These designations are intended to support development and do not amount to approval.

The Phase 2 study in relapsed or refractory CTCL is recruiting globally. Prescient said 20 evaluable patients, 10 in each dosing arm, are now enrolled, triggering the first Dose Optimisation Committee review in December 2026. Enrolment continues towards the planned 40 evaluable patients.

Beyond PTX-100, Prescient has cell therapy enhancement platforms. OmniCAR is a universal immune receptor platform in preclinical development that aims to allow controllable T-cell activity and multi-antigen targeting with a single cell product. CellPryme-A is an adjuvant therapy intended to help cell therapies overcome a suppressive tumour microenvironment, and CellPryme-M is a 24-hour Manufacturing process that the company says shifts T cells towards a central memory phenotype. Prescient describes CellPryme-M as ready for the clinic.

For investors tracking ASX shares in the biotech sector, raisings like this one are common for clinical-stage companies that do not yet generate product Revenue and rely on Equity markets to fund trials.

Risks and considerations

New shares issued under the SPP and placement will dilute existing holders who did not participate. The raise was also below the SPP's stated $7 million target. The December 2026 Dose Optimisation Committee review will recommend a dose and provide guidance on continuation of the study, and its outcome is not yet known.

Clinical-stage Drug Development carries a high risk of setbacks, and progress towards a Phase 2b study or eventual commercialisation depends on trial results, regulatory feedback and potentially further funding or partnering. Prescient's announcement notes that its forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially.

What comes next

The immediate next step is the allotment of new SPP and placement shares, expected on or about 30 September 2026. Beyond that, the key event flagged by the company is the first Dose Optimisation Committee review of the PTX-100 Phase 2 study in December 2026, while enrolment continues towards 40 evaluable patients.

The bottom line

Prescient Therapeutics has closed its September 2026 capital raising with about $6 million in hand, below the $7 million SPP target but enough, the company says, to fund PTX-100 beyond its December dose optimisation review. The review's findings will be the next major marker for the program.