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.

A group of science or medical professionals cheering good news in the lab.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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 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.

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »