Prescient Therapeutics (PTX) is looking to raise $8 million via a share purchase plan (SPP) to progress its PTX-100 and PTX-200 cancer treatment therapies.
The company said it would also use the funds to progress its cell therapies to first-in-human clinical studies and for general working capital.
Under the SPP, shareholders will be able to subscribe for $30,000 worth of new shares at 17.5 cents per share. This price represents a 14.6 per cent discount to Prescient’s volume-weighted average price over the five trading days before August 24.
Prescient CEO and Managing Director Steven Yatomi-Clarke said the company was seeking to maintain its momentum of “incredible” growth and its position at the forefront of oncology innovation.
“Prescient continues to build out a diverse and innovative pipeline of personalised therapies for cancer,” Mr Yatomi-Clarke said.
The SPP is anticipated to close on September 29, with results to be announced on October 3 and shares issued on October 5.
Last week, Prescient signed a deal with Thermo Fisher Scientific to accelerate the development of its OmniCar platform.
Under the agreement, a development will be constructed to evaluate the potential of using automated, closed cell therapy solutions to develop a novel process of manufacturing cell therapies on the OmniCAR platform using non-viral methods.
Shares in Prescient Therapeutics were down 14.3 per cent and trading at 18 cents at 2:51 pm AEST.
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