@arsenal1954 & others . I’m glad that we now know that it was MOH selling - this being confirmed late yesterday. There are not many major shareholders. To me very clearly Race Oncology is a buy . More clearly so and derisked now to really go on and prove up potentials of and progress bisantrene , than ever before. In my summations I would think Merchant are done for awhile - they’ve done the job they had to do of shedding more + in the process provided liquidity for a lot of demand for shares . (This helps with our ascent also now into the all- ords ! And maybe asx300 to come .. which helps the shareprice, and likelihood of funds buying in & further larger investor recognition) They’ve given a lot of opportunity for other no doubt serious and significant shareholders to be aboard .
It was going to be a lot of pressure if MOH held the % ongoing that they had - predators could go straight to them to try to buy a large stake into RAC. Yet if they tried to start to sell later on market after an exponential increase , they would cause alarm and retard the shareprice . Any interested cornerstone investor entity or fund,, or potential acquirer now down the track , will have to buy significantly on market to gain a substantial holding . And to attain 10% off market from major holders , would need several substantial holders to agree to sell to them . Entities can acquire significant shares but they can’t accumulate anything like 20% blocking stake. RAC is solid . And I like it that new shareholders with conviction to Hold come aboard the entire way- this is how Race can succeed and ultimately be bought for more real value.
I see and hope now that Merchant are more a solid cornerstone shareholder ongoing . Protecting their own shareholding and ours - large and small .
Merchant state that they plan to hold with a minimum of 3 - 5 year timeframe when they invest in a company . Surely they see RAC as a takeover prospect and that this will be their final exit . I think they’ve likely traded even more RAC as they’ve acquired some off- market & this activity will now be mostly over - and they’ve managed the sale of this volume of shares . Many new RAC shareholders and must be new large holders . At the rate the RAC shareprice can go in the year again , their 8million abouts shares — could reach $100 million value! It was untenable to hold all as major re-ratings occur . (although unfortunate that Andrew C just reiterated their intention to hold at the level in early February )
The value traded has been incredible, and buyers have bought all of the stock —and the shareprice still appreciated.
The shares are going more into final hands . I bought more and others I know also have. I bought the open and the close actually yesterday also.
The biggest thing - Fundamentally, RAC is way more derisked , though more important to realise that the FTO link and bisantrene efficacy as a highly effective inhibitor of FTO as well as the importance emerging for this — seems to be now being validated in Race Oncology early breast cancer preclinical data . Those results were only released this last week . *Whereupon Dr T exercised his options ,and put in over half a million dollars to do so ! And Mary Harney jumped to buy some shares also on market . note- the MC7 breast cancer lines and significant tumour lines - bisantrene showed outstanding inhibition of the cancer cells , much more and greatly increased effectiveness and activity compared to standard of care doxorubicin or epirubicin and combination treatments. Bisantrene also shows advantages in these difficult breast cancer cells lines coupled with the most common combination therapies. This is bombshell . I think educated money just thinks - Buy! And I think — “This has to be bought out for in the billions of dollars” . My thoughts and belief anyway .
So wrt discussion about charts and TA , and of momentum increase in recent weeks still again , and thoughts that this all should settle down — *I think people should acknowledge the very compelling data which has now been released by RAC this week . ( elevating bisantrene up to the level of significant trials now likely to come). As well as —City of Hopes new 4th March published paper for their ongoing FTO protein action studies and of importance of FTO in a broad range of cancers. COH clearly are ongoing in their research with FTO & their latest results with bisantrene (CS1 ) in their research work are fantastic.
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