Australia's largest stock trading and investment forum Australia's #1 stock forum

RAC

0.57%

$1.75 race oncology ltd

Is $RAC a takeover target?, page-30

First 30 Last

Share
Profile

Follow
LifeStar

1,515 Posts.

239

26/06/23

18:56

Post #: 68478265
Share

Originally posted by KingBuzzo: ↑

RAC has dropped almost another 10% as of closing today (and more at at lows) since I posted this Wednesday (a mere 4 days ago!). The aussie dollar is also down 1.5% or so since then.

Fully diluted RAC market cap now sits barely above AUD 200 million / USD 133 million. Enterprise value now sits around AUD 180 million / USD 120 million.

I did a quick run through of the significant announcements and discoveries that have occurred in the more than 2.5 years since RAC was last at this valuation:
- positive Breast cancer pre-clinicals (including doxorubicin/cyclophosphamide/Zantrene 3 drug combo)
- positive Melanoma pre-clinicals (with both immunotherapy and kinase inhibitors)
- positive AML pre-clinicals
- positive ccRCC pre-clinicals
- positive Multiple Myeloma pre-clinicals
- Prof Chen joins SAB
- Second independent study confirming Bisantrene inhibits FTO
- SPP raises $29.7 million
- Sheba 2 AML Trial initiated and completed Phase 1 with 50% RR
- Additional patents granted
- FTO Biomarker study initiated
- Companion Diagnostic study initiated
- AML EMD Trial commenced
- Heart Protection discovery
- Independent confirmation in USA that bisantrene protects mouse hearts from doxorubicin toxicity
- New drug discovery program started
- IV Formulation announced (but GMP product not yet delivered)
- Buyback started, stalled and now completed
- Positive Pre-IND guidance received from FDA
- Cardioprotection Breast Cancer trial ethics approval received
- New cardioprotection study with Dr Brian Jensen started
- Cardioprotection market data released.
- Team of 10+ group of cardio-oncology Consultants/KOLs (USA and Australia) engaged to guide clinical development and commercial strategy
- Significant staffing changes - DCB in, DT out, PL and JC take the back seat, MH steps up, DF out, Advonate/AD/TH in, MR in.

Admittedly we're still waiting to know the full details of some of these announcements, but signs are that they are positive as we've been told that the data has been withheld for strategic/commercial reasons and/or to enable peer review and publishing in journals/conferences.

As the share price continues to drop, it seems that the market valuation is increasingly disconnected from the value of bisantrene as a drug and Race's internal IP and knowledge around FTO inhibition/mRNA epigenetics and Cardioprotection. I wonder if there is a price at which someone takes a swing at picking up the whole package? As I said last post, 5 years ago Merck paid USD 394 million for Cavatek, which has now been completely shelved. Race at current prices would seem like a much lower risk and potentially much higher reward purchase.

Expand

I don’t understand how the company can withhold positive or negative price sensitive information. They must release price sensitive information due to ASX disclosure rules.

RAC Price at posting: $1.16 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

MSB

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

SRL

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

OCC

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

SPR

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

PL3

Patagonia looks to raise $2.15M for South American exploration and development

There are more pages in this discussion • 4 more messages in this thread...

First 30 Last

Add RAC (ASX) to my watchlist

(20min delay)
Last $1.75		Change 0.010(0.57%)		Mkt cap ! $298.0M

Open	High	Low	Value	Volume
$1.73	$1.83	$1.73	$272.0K	152.3K

Buyers (Bids)

No.	Vol.	Price($)
1	9998	$1.75

Sellers (Offers)

Price($)	Vol.	No.
$1.79	2000	1

View Market Depth

No.	Vol.	Price($)
1	9998	1.750
1	7599	1.730
1	581	1.720
3	11557	1.710
4	46280	1.700

Price($)	Vol.	No.
1.790	2000	1
1.830	44030	2
1.840	10500	2
1.850	14500	3
1.860	949	2

Last trade - 16.10pm 09/07/2024 (20 minute delay)

RAC (ASX) Chart

Is $RAC a takeover target?, page-30

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

Patagonia looks to raise $2.15M for South American exploration and development

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Is $RAC a takeover target?, page-30

Top Stories

Mesoblast resubmits US FDA application for approval of Ryoncil in children with graft vs host disease; shares dip -4%

Scandium a priority metal for Sunrise as it plans feasibility update at Syerston

Orthocell shares jump on record revenues from sales of collagen bone repair devices globally

Spartan sniffs 126g/t gold ahead of resource upgrades at WA's Dalgaranga

Patagonia looks to raise $2.15M for South American exploration and development

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News