Q. Bisantrene is not new. How can RAC monetise if it is out of patent?, page-116

All fair questions to ask.

Yes, RAC largely has a retail investor book as confirmed by Broker Data.
...and yes, RAC are not playing by the accepted rules when it comes to cap raises.
...and yes, most investment houses would not like that.
One house I work with don't think the retail book is the best scenario for RAC when it comes to commericalisation.

However, a little research shows that all the planned trials are now fully funded through to circa 2028.
Piggy Back options are already being converted as they are in the money and will be sufficent to support future trials.

A review of other Big Pharma transations tells us that there will be sufficient data from the planned trials for a commericalisation. ...and it appears some of this data will be available as early as next next year.

...and what do investors do with this information?
- some keep buying
- some keep holding
- some keep selling
Sounds like a market to me...

...and some don't hold but have an opinion.

BG, I wish you all the best in your investing.

Cheers