Tired of speculation about whether RAC will buy bitcoin or whether Hunterr will flip another house to average down?
It's time for some fun.
This is a competition to guess whether Dr William Garner will reappear on RAC's T20 list by 29 May 2026, which is the piggy expiry date.
If you think he will reappear by then, you need to also guess the date of his reappearance on the T20.
If you think he won't reappear by then, please say so.
There are no prizes other than kudos.
Background
To say that Dr Garner is extremely well acquainted with RAC and bisantrene is an understatement. He's the person who identified bisantrene as a promising abandoned drug and repatented it. The patent was owned by his private company, Update Pharma. In July 2016 Update Pharma sold its IP to the listed company Coronado Resources, which was then renamed "Race Oncology Limited". That's how RAC became listed . Dr Garner received 15 million RAC shares as full payment for his IP. At that time, Dr Garner was a Director of RAC. He later resigned from RAC, but initially he retained his entire shareholding.
Later, observing the infighting between the "quick flip" faction and the "reformulation" faction, and satisfied with a share price averaging about $2 over his selling period, Dr Garner very wisely ignored the HC rampers and gradually sold down his entire holding (or at least he dropped off the T20; maybe he still has a smallish holding), netting a cool $30m. His shares had cost him nothing other than his very considerable brainpower and the patent office fees and the patent lawyer legal fees. So Dr Garner has made by far the largest REALISED capital gain of any RAC shareholder. He has redeployed part of the sale proceeds into other biotechs, but not all of it. Unless he has spent the remainder on mosquito repellent, he could easily put a substantial amount into RAC if he wanted to. For example, he may buy on market if he thinks that the market is undervaluing RAC, or he may be offered a placement if RAC wants to attract a high profile investor.
RAC is now attempting to get the SP well above $1.25 by the piggies expiry date, noting that some holders will sell heads to execute their options. It's by no means certain that this can be achieved. For example, holding an investor briefing in Hobart probably won't be sufficient on its own (sorry @Gorey29 that's the plain truth). Also, CP/MOP may not be convincingly demonstrated clinically by 29 May 2026.
My own competition entry:
Yes, Dr Garner will re-enter the T20 prior to 29 May 2026. His re-entry will be visible in the quarterly report for Q1 2026, which will appear in late April 2026.
Now let's get those entries rolling in.
(20min delay)