Shares in Prescient Therapeutics Ltd (ASX: PTX) have surged to fresh heights today on the back of news its cancer treatment drug, OmniCAR, has been substantially de-risked.
After reaching a multi-year high of 26.5 cents this morning, the Prescient share price has retreated slightly and is currently trading at 25 cents apiece, up 8.7%.
Today, Prescient announced positive results from in silico immunogenicity testing of SpyTag and SpyCatcher, OmniCAR's key binding components.
Let's take a look at today's news from the cancer treatment development company.
Image source: Getty Images
Positive immunogenicity results
According to Prescient's release, the results have de-risked the entire OmniCAR platform.
The in silico tests found SpyTag and SpyCatcher don't inspire a negative response from human antibodies – meaning, the human body won't attack the treatment itself.
In silico tests are done on a computer using algorithms. In this case, the tests mimicked the human body's response to introduced medication.
OmniCAR combines controllable CAR T-cell therapy and multi-antigen targeting. According to Prescient, high levels of immunogenicity – a negative response from antibodies – can negatively impact CAR-T cell expansion and persistence, which can affect the safety and clinical response of the treatment.
OmniCAR is currently being developed to treat acute myeloid leukemia, Her2+ solid tumours (including breast, ovarian and gastric cancers), and the most common form of brain cancer, glioblastoma.
Today's development follows the successful completion of manufacturing and delivery of critical components of the OmniCAR platform.
Commentary from management
Prescient CEO and managing director Steven Yatomi-Clarke commented on the results, saying:
The immunogenicity results could not have been better. In short, it gives us confidence that if these therapies are ultimately delivered to patients, that their immune systems will not impair the therapy itself.
This is essential not only for Prescient's three in-house OmniCAR programs, but also for potential external collaborators, who consider immunogenicity very stringently.
Prescient share price snapshot
2021 has been a ripper year so far for the Prescient share price.
Currently, it's 264% higher than it was at the beginning of the year. It has also gained 325% since this time last year.
The company has a market capitalisation of around $117 million, with approximately 641 million outstanding shares.
