The Prescient (ASX: PTX) share price is surging 12%. Here’s why

It’s been a wild ride for the Prescient Therapeutics share price lately.
The post The Prescient (ASX: PTX) share price is surging 12%. Here’s why appeared first on The Motley Fool Australia. –

The Prescient Therapeutics Ltd (ASX: PTX) share price is soaring today, despite the company not releasing any news.

The last time we heard price-sensitive news from the biotechnology company was on 5 July.

Right now, the Prescient Therapeutics share price is 23 cents – 12.2% higher than it was at close of market yesterday. 

Prescient Therapeutics focuses on therapies for cancer treatment. Let’s take a closer look at what the company has been up to lately.

The month that’s been for Prescient

Over the last 30 days, 2 major announcements saw the Prescient Therapeutics share price moving dramatically.

The first was on 24 June, when the company released news of its next-generation immunotherapy platform.

Prescient Therapeutics told the market it had incorporated SpyTag into binders for its 3 next-generation CAR-T programs.

The company also received lentiviral vectors that will help produce CAR-T cells expressing SpyCatcher.

Despite the seemingly positive news, the Prescient Therapeutics share price fell 13% that day and another 5% the day after.

Then, on 5 July, the company announced immunogenicity testing had been completed on the company’s OmniCAR therapy.

The components of OmniCAR, which include SpyTag and SpyCatcher, received positive results from in silico immunogenicity testing. The testing substantially de-risked OmniCAR.

In silico tests are those done using computer modelling. In this case, they simulated the body’s response to OmniCAR.

Following the news, the Prescient Therapeutics share price gained 13%.

However, between market close on July 5 and market close yesterday, the company’s share price fell 19%.

Fortunately, today has helped to turn the plunge around.

 Prescient Therapeutics share price snapshot

Prescient Therapeutics is going well on the ASX lately.

Its share price is currently 243% higher than it was at the beginning of 2021.

The company has a market capitalisation of around $147 million, with approximately 641 million shares outstanding.  

The post The Prescient (ASX: PTX) share price is surging 12%. Here’s why appeared first on The Motley Fool Australia.

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More reading

Why is the Prescient (ASX:PTX) share price down 16% this week?
The Prescient (ASX:PTX) share price rocketed 10% higher today. Here’s why
Prescient (ASX:PTX) share price sinks despite positive update

Motley Fool contributor Brooke Cooper has no position 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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