Yes, but hopefully the shares have gone to someone who wants to hold them for the long term.
While you can trade biotech stocks, the real money to be made is identifying the good ones (easier said than done) and holding on. Have a look at PAR which is probably the closest company to RAC on the ASX in terms of drug development approach. Back in mid 2018 PAR was trading under 25c and it is now near $4. Sure you could have traded PAR, but you would likely have missed some of the big moves up over that time as well as paid a lot of tax along the way.
RAC Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
