Rightly or wrongly, the expectation of many seems to be that of a 'failure to launch'. It's really hard to have any sympathy for RAC.
At the AGM in Nov 2022; holders were told that the RC110 EMD AML trial was expanding to Europe, to combat what was effectively a poor trial design (Note that ethics approval for the EMD Trial was received in April 2022), and that the RC220 BC Doxo trial would be commencing in Q3 2023.
The following 12 months was a total shitshow.
24-Mar-23: Tillett throws in the towel. JDP suggests spilling the board instead, again
.
28-Apr-23: Still struggling with EMD AML, No sign of RC220 (needed by Q3).
7-Jul-23: Still struggling with EMD AML, trial to be expanded to include dosing with RC220, which is late by the way, not expecting an engineering batch until Q3 when we said it would be in patients, and by the way we've now canned the non-interventional component of that trial BC Doxo trial.
8-Aug-23: Forget everything we've told you the last 10 months, everything is in the bin - and we're heading to the US with no drug and no money to fund our ambitions!
22-Aug-23: Ok, we fired the guys who came up with that idea.
22-Nov-23: Ok, all our ideas sucked, Tillett's back.
I understand the PTSD some holders must be feeling after that year, but I'm somewhat surprised we haven't seen more of a recency bias start to creep in.
At the AGM in Nov 2023; holders were told that we'd finally be receiving RC220 by end of Q1 24 and the non-clinical toxicology program by end of Q2 24. Both these dates were hit. In June we were told that ethics would be ready for lodgement in Q3, pending regulatory input from third-parties. This was completed with the exception of the third-party input and the RC220 patent has now been lodged. We're ready to go...
The SP might be frustrating, but I'm feeling pretty optimistic about RAC's ability to deliver programs going forward.
