Prescient MD resigns

Dr Robert Crombie, the managing director of clinical stage oncology company Prescient Therapeutics (ASX:PTX), has resigned from the company in order to focus on other business opportunities.

Paul Hopper, Prescient’s executive director, will lead the company until a replacement managing director is found. Hopper has more than 20 years’ experience in international public company markets, with a focus on start-up and rapid growth companies.

Hopper said Prescient is currently in an “enviable position”, having recently reported encouraging early clinical data from its Phase 1b/2 Investigator Sponsored Trial of cancer drug PTX-200 in patients with breast, lung and oesophageal cancer.

“We expect strong news flow and progress across several cancer drug targets over the next year,” Hopper continued. “As we continue to execute on our programs, we will seek a permanent CEO who is ready to take Prescient to the next level.”

“The board is appreciative to Rob for his contributions in initiating the clinical programs and building the management team during the first 18 months of the company’s life,” said chairman Steven Engle. “We also appreciate Paul stepping into the leadership role on an interim basis.”

Prescient Therapeutics (ASX:PTX) shares were trading 7.25% lower at $0.064 as of around 3.30 pm on Thursday.