The answer to this is quite simple; it’s called clinical trials and approvals; RAC have only just started this long journey and are still quite a long time away from the approvals, off label prescribing is fraught with danger both from the practitioner side and medical rebates side.
There’s also the cost of trials and associated expenses, at the moment this is another grey area for RAC.
If history is to be followed in the biotech development space RAC is already past the FOMO stage and is in the hiatus stage where the SP will wax and wane for a period of time until new investors can see approvals may be near.
I have been monitoring for a while now and RAC is following the pattern I’ve described, I can see possibly and entry point at around $1.30 odd or a touch lower.
All just IMHO.
General Comments / Chat, page-11095
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Last
$1.77 |
Change
0.015(0.86%) |
Mkt cap ! $300.6M | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.82 | $1.77 | $91.78K | 51.30K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 31147 | $1.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.80 | 8318 | 1 |
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| Last trade - 15.59pm 10/07/2024 (20 minute delay) ? |
| RAC (ASX) Chart |