Update: AML trial for PTX-200 a valuable addition
Prescient has sharpened its focus on lead anti-cancer compound PTX-200 and plans to add a Phase Ib trial in acute myeloid leukaemia (AML) to the ongoing Phase I/II trials in breast and ovarian cancers. It has raised ~A$2m through a share purchase plan and placement, which will fund operations until 2017. We raise our valuation to A$49m (A$0.53/share), with the addition of the AML indication for PTX-200 more than offsetting the deferral of Phase 1b trials for PTX-100.Prescient Therapeutics is a holding company. Through its subsidiaries, Co. is engaged in: the construction of vectors and biologic components, and the manufacture of biologic drugs for clinical trial purposes; the preparation for and conduct of clinical trials; business development associated with the promotion of its technologies; and business development associated with developing collaborative, partnership relationships and corporate transactions.
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