Has been an incredible Friday and I'm usually a cynical person. What's even more impressive is the strong close today against the backdrop of the decline in the ASX 200 today.
This is slightly off-topic and it might have been discussed previously but can anyone explain to me why Race Oncology (RAC) has experienced such a meteoric rise?
A year ago RAC was priced around 0.26-0.28 cents and at its peak, $4.07 in March 2021. I can't seem to make sense of it when its pipeline is so singular and purely focused on an enhanced chemotherapeutic drug, i.e. Bisantrene. In fact, they had issues with their Phase III study on breast cancer in the 1990s and it was never completed. By comparison, Imugene has an extensive clinical pipeline, has strong clinical potential and is builds upon the immunotherapy field but yet is vastly undervalued. It might be my ignorance but I can't understand why RAC is so highly priced.
Is RAC overvalued? Or does it intrinsically represent an improvement to standard chemotherapy? Would appreciate any insights and to be less puzzled by this.
Cheers.
Has been an incredible Friday and I'm usually a cynical person....
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