I can understand what you are saying, partly.
You must understand that Race Oncology didn't have RC220 for the last few years, which makes what you're saying make a bit less sense.
If the new data further validates the CP opportunity (and P1 safety, etc.), and the ACS has been demonstrated in the past then the value can be demonstrated effectively in conversations with BP which are ongoing within RAC as they are with many prospective biotechs.
Again, investing is being there before validation.
I agree though that the current valuation is hard to reconcile given the opportunity and previous clinical and pre-clinical data, and I often think about this. Seeing insiders that aren't DT monetarily validate this will be the next milestone to put me at ease, after that it's all about the data.
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