Nope. After speaking with upper management of other public vehicles, a blackout of significant duration like this can only mean a couple things. When I put this into the context of RAC today and what is needed to sell the RAC of tomorrow, there are some things that come to my mind and they are all exciting.
RAC need a lot of clinical data to deliver the largest possible return for shareholders. With the patent for RC220 already published, the clock is ticking. The CPACS clinical program is now underway, meaning there’s a limited window to build a compelling dataset - one that will likely need to be in place by the (near) completion of a large Phase 2 trial. The last time RAC shareholders received anything preclinical data related was June last year - that is a hell of a lot of time in between drinks.
We need to keep in mind that I have my tin foil hat on and that it is impossible for me to truly know what is happening. I'm probably very wrong. However, as a result of the points above, I believe that there are only a handful of potential scenarios that can play out, which include:
1. Licensing or partnership to expedite the clinical programs of Bisantrene. Even a small geographical deal to somewhere like Japan has huge upside for RAC shareholders at relatively low cost. Such an event validates Bisantrene clinically and commercially in the eyes of a pharmaceutical company and, of course, investors. I imagine such an agreement might include expanding the clinical program for Bisantrene. For example, following the completion of the P1a and establishing the MTCD, a P1b/P2 expansion to the current CPACS trial in the jurisdiction expands the clinical use of Bisantrene into real drug combinations and additional patients beyond breast. Continuing on the Japan as the example, a dedicated P1b/P2 in this jurisdiction builds human data specific to an Asian demographic, which can later be used as evidence in a larger commercial deal.
Something like this addresses RACs need for timely clinical data by utilizing the resources of a larger organisation while also validating Bisantrene clinically and commercially without destroying future potential value.
2. Strategic clinical update to address the targeted therapy synergy program or anti-cancer specific area. The last year has felt like a barren wasteland with regards to updates on stated preclinical programs. It goes without saying that targeted therapy and immunotherapy are enormous areas with a lot of competitors (competitors who would like an advantage). Bisantrene is unique in its mechanisms to kill cancer - death by a thousand cuts comes to mind - while preventing long term toxicity. If these mechanisms have been completely understood and an area by which Bisantrene could explore and unlock huge commercial upside has been researched and revealed, then this could put a buying block on RAC.
Once again, this type of scenario aligns with RACs need for timely clinical data and explains the time required to receive information and determine the best place to direct resources. This could of course happen with funding from an external party.
As an additional point, I do not believe the MOA paper or AML investigator explain the blackout.
If you're after a simple answer, it's about expanding clinical data in the most time-efficient and clinically translatable way possible.
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