I am appreciating being able to add a few thousand shares or so more at these prices. Options selling related I assume.
At 230m mcap for RAC, it's trading at around 5 and a bit times less than another major cancer focused company that's been mentioned in these threads from time to time. That drug has basically tripled in the 6 months since I bought it. The other company's IP is totally different and in Phase 3, so hardly a direct comparison but arguably our drug is just as 'platformy' if not substantially more. And ours is arguably almost as de-risked, despite being effectively Phase 2.
Goes to show that even in Australia the market can seemingly tolerate a pre-rev biotech at $1-2bn mcap.
I am still not really clear what the catalyst for 'rerate' will be despite the purported shedding of the 'under the radar' status, but it is nice to be able to buy at these levels before anyone else has quite worked out where this is likely going. I suspect, like the other drug, when it does presumably happen, it will gather momentum similarly quickly. Or I hope rather. Anyway good luck yall.
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Last
$1.53 |
Change
-0.060(3.79%) |
Mkt cap ! $259.9M |
Open | High | Low | Value | Volume |
$1.54 | $1.56 | $1.53 | $130.2K | 84.73K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4993 | $1.53 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.58 | 10451 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4993 | 1.525 |
1 | 12381 | 1.520 |
3 | 9872 | 1.510 |
3 | 11327 | 1.505 |
9 | 14363 | 1.500 |
Price($) | Vol. | No. |
---|---|---|
1.580 | 10451 | 1 |
1.595 | 6000 | 1 |
1.600 | 23239 | 1 |
1.630 | 6183 | 1 |
1.650 | 17029 | 2 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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RAC (ASX) Chart |