Prescient Therapeutics (ASX:PTX) is raising Capital because its lead drug candidate, PTX-100, is approaching a key checkpoint in a mid-stage clinical trial for a rare blood cancer, and the company needs funding to take the program beyond that point. The clinical-stage biotech has offered eligible shareholders a share purchase plan (SPP) of up to $7 million, with the proceeds earmarked for advancing PTX-100 past a Dose Optimisation Committee meeting planned for December 2026.

The 's column on 21 September that the ASX-listed cancer treatment developer was raising funds for its trials, noting the company claims its therapy has shown early signs in early studies focused on blood cancers.

Details of the raising

Prescient opened the SPP on 26 August to eligible shareholders in Australia and New Zealand who held shares at the Record Date of 24 August. New shares are priced at 6.5 cents each, an 18.8 per cent discount to the volume-weighted average price over the 10 trading days before the offer was announced. Shareholders can apply for parcels ranging from $5,000 to $30,000.

If fully subscribed, the offer would raise $7 million through the issue of up to about 107.7 million new shares. Reach Markets is acting as lead manager, receiving a 6 per cent fee on funds raised and Options exercisable at 9.75 cents, expiring four years after issue.

The SPP was originally due to close on 8 September. Prescient first extended the deadline to 15 September after several shareholders raised concerns about delayed documentation, then extended it again to 5pm on 18 September. New shares are scheduled to be issued on 25 September, and the company is yet to announce how much it raised.

What the money is for

The funding is tied directly to PTX-100, a small-molecule drug that inhibits an enzyme known as geranylgeranyl transferase-1, or GGTase-1. By blocking this enzyme, PTX-100 is designed to disrupt cancer growth signalling pathways that are difficult to target with conventional treatments. Prescient says it is currently understood to be the only GGTase-1 inhibitor in Clinical Trials anywhere in the world.

PTX-100 is being tested in a Phase 2a study in patients with relapsed or refractory cutaneous T-cell lymphoma (CTCL), a rare type of non-Hodgkin lymphoma that affects the skin. In CTCL, cancerous T-cells, a type of white blood cell, collect in the skin, which is why the disease is grouped with blood cancers even though it often first appears as skin patches or plaques. The trial has two dosing arms and aims to enrol 40 evaluable patients, with patients considered evaluable once they complete four treatment cycles.

On 17 September, Prescient said the trial had reached 20 evaluable patients, 10 in each dosing arm. That milestone triggers the first review by the Dose Optimisation Committee, a group of clinical and biostatistical experts that will examine safety and efficacy data from both arms in December 2026. The committee's findings are expected to guide which dose is taken forward.

The clinical case so far

Prescient's confidence rests largely on earlier data. The company says PTX-100 demonstrated safety and signs of clinical activity in Phase 1 studies, including positive efficacy and safety signals in a Phase 1b expansion cohort of patients with T-cell lymphomas.