This is textbook anticipatory buying in a biotech that has just entered the clinic. I've seen it time and time again, buy on rumour sell on news.
People will buy in the lead up to results or news, which we are now expecting a steady flow of which usually pushes the price up in the weeks/months prior.
Of course there is also an element of de-risking going on now that it is in the clinic, patient(s) have been dosed and the risk of phlebitis in RC220 has been overcome (even at n=1)
So as I mentioned a few months ago, I am expecting a steady rise in the SP up until the P1a results or updates are released at which point only the results will dictate which way the price moves.
RAC Price at posting:
$1.40 Sentiment: Buy Disclosure: Held
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