Prescient Therapeutics (ASX:PTX) share price up 5% on Thursday

Prescient shares are enjoying an impressive run and are up 28% over the past 7 days of trading.
The post Prescient Therapeutics (ASX:PTX) share price up 5% on Thursday appeared first on The Motley Fool Australia. –

The Prescient Therapeutics Ltd (ASX: PTX) share price has gained a further 5% to trade at 23 cents on Thursday afternoon.

Prescient shares have been on the move over this past week and have climbed 28% into the green over this time.

What tailwinds are behind the Prescient share price lately?

The Prescient share price has been gaining steam since the company reported its FY21 earnings on 30 August.

In it, the company recognised an almost 6% downwards step in revenue to $66,285, whereas the loss after tax increased by 25% over the year.

The company also increased its net assets by $9.2 million to $20.4 million. The bolus of this increase was the issuance of share capital.

Investors are perhaps more concerned with the advancements of the company’s “targeted therapies” PTX-100 and PTX-200.

Both therapies are compounds aimed at the treatment and prevention of cancer, by blocking the growth of tumours in the body.

Currently, PTX-100 has progressed through a Phase 1b trial over the year, “yielding encouraging results” according to the company.

The PTX-200 compound is also in a Phase 1b trial investigating its efficacy in patients with “relapsed and refractory acute myeloid leukaemia (AML)”.

One clear takeout from the year was the development of Prescient’s OmniCAR platform.

The OmniCAR segment is described as a “modular CAR platform created to overcome many of the well-documented limitations and challenges of the current CAR-T treatments, especially in the area of solid tumours”.

For reference, CAR-T treatments are a new type of intervention that is used in immunotherapy and the treatment of cancer. The company made significant advancements in this segment over the course of FY21, according to the release.

There has been no other market-sensitive information released by the company over the past couple of days.

Therefore, it stands to reason that investors are buying Prescient shares on the back of this fundamental momentum.

Prescient share price snapshot

The Prescient share price has posted a 12-month gain of 221%. This has far outpaced the S&P/ASX 200 index (ASX: XJO), which has returned about 23% over the past year.

The post Prescient Therapeutics (ASX:PTX) share price up 5% on Thursday appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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