Here’s why the Prescient Therapeutics (ASX:PTX) share price is leaping 11% today

two medical research coworkers look pleased as they look at a computer screen in a medical research laboratory with test tubes and bottles nearby and a colleague in the background. They all wear white lab coats.

The Prescient Therapeutics Ltd (ASX: PTX) share price is gaining ground in afternoon trade today and is currently changing hands at 24.5 cents apiece.

The biotechnology company’s shares are on the move after Prescient announced pre-clinical data readouts regarding its lead drug candidate.

Read on for more details.

What was announced?

Prescient advised it will be presenting pre-clinical data from a recent study on its OmniCAR candidate at the Cell & Gene Meeting on the Mesa in California. The event started yesterday and runs until 14 October.

According to the company, OmniCAR allows controllable T-cell activity and multi-antigen targeting with a single cell product.

Both of these functions are critical in immune response in humans to protect against illness. The company is seeking a remedial breakthrough with this route to treat various types of cancer.

The company said the Cell & Gene Meeting brings together top executives and decision-makers across various therapies, including cell therapy.

From the pre-clinical readouts, Prescient highlights that OmniCAR has presented capacity to “deliver next-generation cell therapies that are controllable and able to target multiple cancer antigens”.

This is an advantage over the current limitations that CAR-T therapy – the platform on which OmniCAR works – presents in the modern clinical setting.

That’s because CAR-T therapy involves growing living cells that continue to grow. These are then administered to patients which makes outcomes less predictable and controllable.

What else did the company say?

Other key takeouts from the data include that OmniCAR demonstrated a curious phenomenon where it can be “redirected towards a different antigen” by tweaking the formulation. When this happened, it exhibited a dose-response to cancer-killing activity.

For reference, a dose-response measures the relationship between the amount of drug given and the level of response to it. Usually, a stronger relationship indicates a greater efficacy.

Aside from this, Prescient’s other lead drug candidates, PTX-100 and PTX-200, are each progressing through clinical trials.

Both compounds also aim to treat and prevent the onset of cancer.

Investors have bought on the news today and are pushing the Prescient Therapeutics share price 11% higher from the open.

This extends a 9% rally the company’s shares have been on this past week.

Prescient Therapeutics share price snapshot

The Prescient Therapeutics share price has delivered an outsized return of 266% this year to date.

This brings its gain over the past 12 months to 271%, well ahead of the benchmark S&P/ASX 200 Index (ASX: XJO)’s climb of about 20% in that time.

At the time of writing, Prescient has a market capitalisation of $157 million.

The post Here’s why the Prescient Therapeutics (ASX:PTX) share price is leaping 11% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Prescient Therapeutics right now?

Before you consider Prescient Therapeutics, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Prescient Therapeutics wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

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.

from The Motley Fool Australia https://ift.tt/3iWjFAk

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s