RAC
data caveat$576M2mo
Racura Oncology
Biotech · Oncology
Repurposing bisantrene for AML and solid tumours
Data HealthTrials1 of 1 active · stale enrollment
Cash data from Dec 2025 4CFigures from ASX filings · not financial advice
[ VITALS ]
Cash on Hand
$2.1M
Dec 2025 4C
Runway
2moCRITICAL
Based on Dec 2025 4C
Market Cap
$576M
Burn Rate
$3.8M/qtr
Dec 2025 4C
Shares Outstanding
183M
Pipeline Assets
2
Latest Insight(1)
2 Apr 2026Insider TradeAppendix 3Y - Dr Daniel Tillett
1 transaction·+$0k net buyTillett:
3M Price
RAC.ASX$3.150+15.4% 3M
Low $2.150High $3.370
Pipeline Assets (2)
BisantreneAML
Phase 1/2BisantreneLiposarcoma
Phase 2Discovery
Preclinical
Ph 1
Ph 1/2
Ph 2
Ph 2/3
Ph 3
NDA
Approved
Bisantrene
AML
Capital Raises & Buybacks
show_chart
No capital raise or buyback data
Director Transactions
2 transactionsLast 90dNo Activity
Buys0
Sells0
OPTIONS EXERCISEDaniel Tillettopen_in_new
$250,0002026-04-02
2d after · RC220 (E,E-bisantrene) (HARNESS-1) — First Patient Recruited to HARNESS-1 Lung Cancer Trial
OPTIONS EXERCISEDaniel Tillett
Director Options & Rights
Director
Outstanding
Ex. Price
Expiry
No option data entered yet
Short Interest
ASIC ↗as of 2026-03-20 · 4-day lag
Short position
0.00%
arrow_drop_up+0.00% over 3 reports
Shares short
0.0M
Aggregated short position data published by ASIC under the Corporations Act. T+4 reporting lag applies. Short interest ≥5% is noteworthy; ≥10% is elevated. Source: ASIC Short Selling Data
R&D Tax Incentive
$4.4M pending43.5% ATO refund
Adjusted Runwayincluding $4.4M pending RDTI
2 mo→5 mo(+3 mo)
FY2026estimated
Tracker estimate only — calculated as 43.5% of annualised R&D spend from last 4 quarters of 4C filings. Not AusIndustry-registered. Actual refund will depend on FY2026 eligible spend. Refund expected Oct–Dec 2026.
$4.44M
expected
How the R&D Tax Incentive works
Australian biotechs with < $20M aggregated turnover can claim a 43.5% refundable tax offseton eligible R&D expenditure each financial year (Jul–Jun). This is paid as a cash refund by the ATO — not a tax deduction — making it non-dilutive capital that directly extends cash runway.
Companies register eligible R&D activities with AusIndustry during the year, then lodge their tax return after 30 June. Refunds typically arrive October–Decemberof the same calendar year. For a company spending $5M/year on R&D, this is a ~$2.2M annual cash inflow.
Disclaimer: Amounts shown as estimated or are forward-looking estimates based on disclosed R&D expenditure and the 43.5% offset rate. Actual refunds may differ due to ATO assessments, eligibility rulings, or changes in R&D spend. This is not financial advice. Manually curated from 4C filings and company disclosures — verify independently.
Competitive Landscape
10 approved drugs542 competitor trialsPhase 2+ · Non-ASX
Competitor trials from ClinicalTrials.gov (Phase 2+ historical, Phase 3+ refreshed weekly, active/recruiting, non-ASX sponsors). Approved drugs from OpenFDA (NDA/BLA only). Updated weekly via fetch_competitors.py.
expand_moreClinical Publications
Peer-reviewed papers & conference abstracts via PubMed
3 papers
Clinical Publications
Peer-reviewed papers & conference abstracts via PubMed
Br J Haematol2025-10· Bisantrene
J Clin Immunol2025-09· Bisantrene
Expert Opin Ther Pat2025-06· Bisantrene
Catalysts (5)· 2 upcoming · 3 past
Bisantrene Phase 1/2 AML interim data
UpcomingExpectedarrow_upwardHigh31 May 2026
SpeculativeremoveMed31 July 2027
expand_more3 past catalysts
Delivery Consistency Index
Historical delivery and spending consistency — data is limited for recently added companies.
Delivery Consistency Index
Delivery
–Insufficient data
1/3 data points needed
Timeline adherence · phase-adjusted tolerance · recency-weighted · min 3 catalysts
Capital discipline
High93/100
Burn rate stability · stage-adjusted thresholds · runway trend · R&D focus
Hit 1 of 1 guided dates· rolling 2yr(limited sample)· of 5 tracked
What drove these scores · rolling 2yr
arrow_drop_down
Cash position declining — Cash balance dropped >30% over last 3 quarters
arrow_drop_up
Stable burn rate — 7% quarterly variation — consistent spend
arrow_drop_up
R&D-focused spend — 83% of opex directed to R&D
Completed catalysts
✓Capital raise likely— Raised $3.2M placement at $2.83/share (6% premium, Dec 2025)
135d early
Outcome quality (positive/negative readouts) reflects the science, not execution — shown above but excluded from the score.
These metrics reflect historical operational data only. They are not predictive of future performance, do not constitute investment advice, and should not be used as the basis for any investment decision.
Clinical Trials(2)
1 activeClinicalTrials.gov ↗
Ph1RecruitingEnrollment stale · 385d
RC220Doxorubicin (Adriamycin)
A Safety and Pharmacokinetics Study of RC220 Combined With Doxorubicin in Adult Participants With Solid Tumours.
Solid Tumours · Advanced Solid Tumours
18 Years+
Primary endpoint Part 1. Incidence of dose limiting toxicities (DLTs)