December 2018 Quarterly Update & Appendix 4C

Melbourne, Australia (31 January 2019): Clinical-stage targeted oncology company Prescient Therapeutics Limited (ASX: PTX, Prescient) today reported its December 31, 2018 quarter end results and operating highlights for the period.

The business continued to deliver on its published clinical and development milestones and remains in a sound financial position.

Financial update

Prescient ended the quarter with cash reserves of $3.29 million. Subsequent to this date, Prescient received an Australian government Research and Development tax refund of AU$939,423 received in early January 2019.

Costs for the quarter included ongoing clinical trials; manufacturing active pharmaceutical ingredient and drug product for both PTX-100 and PTX 200; and activities preparing for the imminent commencement of the Company’s fourth trial (PTX-100). Despite this busy activity, Prescient continues to astutely manage ongoing operating costs with cash outflows of $1.12 million for the quarter, down from the previous quarter.

Clinical progress

Prescient’s multiple clinical programs with some of the world’s leading cancer clinicians are running to schedule reflecting the strong interest from medical investigators.

A major highlight of the quarter was the release of positive interim durability data from the study of PTX-200 in breast cancer. The data demonstrated that not only were all five responders still alive at 27 months, but no patients had experienced disease progression in the same period. This is encouraging, as many women typically relapse within 24 months.

Pipeline collaboration for next generation formulations

Early in the quarter Prescient entered an important strategic collaboration with a privately held US-based drug development company to develop multiple new formulations of PH domain and Akt inhibitors.

This significant development will help create clinical and shareholder value by expanding the clinical and therapeutic applications in targeted cancer therapy. It will create new intellectual property and multiple new proprietary formulations and builds on Prescient’s knowledge arising from its development of PTX 200. Prescient looks forward to sharing material developments with the market as this exciting program advances.

Positive targeted cancer industry developments

The past few weeks have also seen global investor interest in targeted cancer therapies accelerate on the back of strong clinical outcomes, early stage market approvals and a favourable regulatory environment. Several major partnerships and acquisitions were announced, the largest to date was US-based Eli Lilly & Co’s US$8 billion January acquisition of targeted cancer therapy developer Loxo Oncology Inc.

Phama giant GlaxoSmithKline also purchased targeted cancer drug developer Tesaro for US$5.1 billion and Bristol-Myers Squibb announced plans for a US$74 billion megamerger with drug developer Celgene. Like Prescient, Loxo, Tesaro and others are developing targeted therapies for cancer patients cancer treatments targeting specific tumor mutations.

The team at Prescient is encouraged by the positive commercial and clinical advances among a growing number of companies in the targeted cancer therapy industry.

About Prescient Therapeutics (ASX: PTX, Prescient):

Prescient Therapeutics is developing drugs to treat a range of cancers with significant unmet need. Prescient has one of the deepest clinical pipelines on the ASX, with two drugs that turn off “master switches” that are known to drive cancer.

Exciting interim breast cancer data for PTX-200 has exhibited twice the effectiveness of standard therapy. A new transformative trial for PTX-100 will also soon commence.

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