I think a key to closing some of this share price gap will likely be a partnership with an upfront cash payment plus various clinical development and commercial milestones.
Partnerships can come with US $50M plus upfront cash payments. An upfront + milestones partnership would fund pivotal trials and potentially be a stepping stone to a buyout transaction.
RACE shared the following deal examples in 2021 ( and these were preclinical stage ) - these also in the emerging RNA regulation space RACE is partly focused on.
Zantrene is also not a “me too” drug. RACE with FTO and cardioprotection ( with improved cancer killing ) seems to be firmly establishing a lead position in key Oncology Real Estate … targeting FTO for a large number of cancers and a better ( and importantly safer ) chemo regimen to replace the mainstream AC regimen. RACE have been undertaking their own preclinical programs to show improved efficacy / safety and have various programs to validate this through proof of concept clinical trials.
Note - above slide is from a July 2022 Torreya presentation available here:
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