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- Clinical-stage oncology company Prescient Therapeutics (PTX) has requested a trading halt ahead of a capital raising announcement
- The company will remain in the halt until July 28 or when the announcement is made, whichever occurs first
- In Prescient’s recent quarterly report, it outlined that it had reduced its operational burn from $1.1 million in the March quarter to $773,000 in the June quarter
- Additionally, the company has cash reserves totalling $7.4 million, which is only slightly down from $8.1 million the company held at the beginning of the quarter
- Finally, Prescient’s two cancer treatment drugs, PTX-100 and PTX-200, continued to screen, enrol, and treat patients
- Shares in Prescient last traded for 6.6 cents each on July 23
Clinical-stage oncology company Prescient Therapeutics (PTX) has requested a trading halt ahead of a capital raising announcement.
The company will remain in the halt until July 28 or when the announcement is made, whichever occurs first.
In Prescient’s recent quarterly report, it outlined that it had reduced its operational spend.
Throughout the June quarter, the company burnt $773,000 on operating costs, down from the $1.1 million spent in the March quarter.
Additionally, the company has cash reserves totalling $7.4 million, which is only slightly down from $8.1 million the company held at the beginning of the quarter.
The company also announced it had obtained an exclusive global licence for the immune receptor platform called OmniCAR from the University of Pennsylvania and Oxford University.
OmniCAR can be used to create CAR-T assets, a treatment when cells are altered so they can learn to attack cancerous cells.
Finally, Prescient’s two cancer treatment drugs, PTX-100 and PTX-200, continued to screen, enrol, and treat patients.
Shares in Prescient last traded for 6.6 cents each on July 23.
