Race Oncology Ltd. (AU:RAC)
ASX:RAC
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Race Oncology Ltd.
(Sydney:RAC)
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Rating:54Neutral
Price Target:
AU$2.50
â–¼(-7.41% Downside)
Action:Reiterated
Date:04/21/26
The score is held back primarily by ongoing unprofitability and persistent cash burn despite a debt-free balance sheet and improved FY2025 cost performance. Technicals are a key offset, with price trading above major moving averages and positive MACD, while valuation remains challenged due to the negative P/E and no dividend yield data.
Positive Factors
Balance sheet strength
Zero debt materially reduces refinancing and interest-rate risk, giving management flexibility to fund clinical programs and partnerships from equity or grants. A debt-free structure is a durable buffer for clinical-stage biotech, preserving optionality during multi-period development timelines.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow means the business is not self-funding its development programs. Over several quarters this forces reliance on external funding, increases dilution risk, and constrains strategic choices, a durable headwind until sustainable positive cash generation is achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Zero debt materially reduces refinancing and interest-rate risk, giving management flexibility to fund clinical programs and partnerships from equity or grants. A debt-free structure is a durable buffer for clinical-stage biotech, preserving optionality during multi-period development timelines.
Read all positive factors
Race Oncology Ltd. (RAC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$493.20M
Dividend YieldN/A
Average Volume (3M)373.28K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue GrowthN/A
EPS Growth-15.48%
CountryAU
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.05
Shares Outstanding188,964,580
10 Day Avg. Volume310,625
30 Day Avg. Volume373,283
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)12.69
Price to Sales (P/S)33.63
P/FCF Ratio-44.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.04
Revenue Forecast (FY)N/A
Race Oncology Ltd. Business Overview & Revenue Model
Company Description
Race Oncology Limited operates as a precision oncology company in Australia. The company is developing Zantrene, a potent small molecule inhibitor of the fatso/fat mass and obesity associated protein to treat for melanoma and clear cell renal cell...
How the Company Makes Money
null...
Race Oncology Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
39
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 788.42K | 6.04M | 4.00M | 3.13M | 707.81K | 387.38K |
| Gross Profit | 392.29K | 5.41M | 2.22M | -281.20K | 426.61K | 106.19K |
| EBITDA | -10.28M | -4.43M | -14.20M | -12.78M | -11.63M | -6.45M |
| Net Income | -9.39M | -4.79M | -13.82M | -9.92M | -11.20M | -6.34M |
Balance Sheet | ||||||
| Total Assets | 24.77M | 17.49M | 20.23M | 26.64M | 37.52M | 14.25M |
| Cash, Cash Equivalents and Short-Term Investments | 20.94M | 13.67M | 17.19M | 21.52M | 33.54M | 9.32M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.20M | 1.48M | 1.92M | 1.15M | 1.42M | 523.11K |
| Stockholders Equity | 23.57M | 16.01M | 18.31M | 25.49M | 36.11M | 13.72M |
Cash Flow | ||||||
| Free Cash Flow | -7.33M | -4.57M | -9.55M | -10.65M | -6.26M | -4.70M |
| Operating Cash Flow | -7.33M | -4.57M | -9.55M | -10.65M | -6.26M | -4.70M |
| Investing Cash Flow | 532.00 | 0.00 | 0.00 | 7.90M | 0.00 | 0.00 |
| Financing Cash Flow | 9.51M | 1.06M | 5.21M | -1.28M | 30.51M | 12.28M |
Race Oncology Ltd. Technical Analysis
Negative
2.70
Price Trends
2.65
Negative
2.59
Negative
2.63
Negative
Market Momentum
-0.04
Positive
43.60
Neutral
43.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RAC, the sentiment is Negative. The current price of 2.7 is above the 20-day moving average (MA) of 2.66, above the 50-day MA of 2.65, and above the 200-day MA of 2.63, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 43.60 is Neutral, neither overbought nor oversold. The STOCH value of 43.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:RAC.
Race Oncology Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | AU$29.40M | -25.86 | 10.35% | 2.81% | -18.17% | -70.18% | |
54 Neutral | AU$493.20M | -29.29 | -47.44% | ― | ― | -15.48% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | AU$70.45M | -5.28 | -62.49% | ― | ― | -13.64% | |
44 Neutral | AU$90.66M | -14.80 | -40.65% | ― | -100.00% | -11.11% | |
41 Neutral | AU$108.75M | -2.12 | -30.19% | ― | ― | 62.50% | |
41 Neutral | AU$135.92M | -2.84 | 279.21% | ― | ― | -37.23% |
* Healthcare Sector Average
AU:RAC
Race Oncology Ltd.
2.47
1.10
80.29%
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0.01
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0.07
0.02
47.92%
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EZZ Life Science Holdings Ltd.
0.63
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-60.96%
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Recce Pharmaceuticals Ltd.
0.49
0.20
68.97%
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0.07
>-0.01
-3.90%
Race Oncology Ltd. Corporate Events
Racura urges piggyback option holders to act as RC220 trial funding looms
May 8, 2026
Racura Oncology has reminded holders of its RACOPT43 piggyback options that these securities will expire on 29 May 2026, with each option allowing the purchase of one ordinary share at $1.25 before the deadline. The company is urging eligible inve...
Racura Oncology Director Increases Stake Through $250,000 Option Exercise
May 7, 2026
Racura Oncology Limited has disclosed a change in the holdings of director Daniel Tillett, who has increased his stake in the company through the exercise of share options. Tillett converted 200,000 options at an exercise price of $1.25 into fully...
Racura Oncology Seeks ASX Quotation for 1.4 Million New Shares
May 7, 2026
Racura Oncology Ltd, an ASX-listed oncology-focused biotechnology company, has expanded its equity base through the issuance of additional ordinary fully paid shares. The company continues to use its listed share capital structure to fund and supp...
Racura Oncology Lists 1.43 Million New Shares on ASX
May 4, 2026
Racura Oncology Ltd has applied for quotation on the ASX of 1,434,699 new fully paid ordinary shares under its ticker RAC. The new securities, issued on May 4, 2026, expand the company’s listed share capital and provide additional equity ins...
Racura Oncology Seeks ASX Quotation for Additional Ordinary Shares
Apr 30, 2026
Racura Oncology Ltd, an ASX-listed oncology-focused biotech, develops cancer therapies aimed at addressing unmet medical needs in oncology markets. The company’s activities center on advancing innovative treatments that can strengthen its cl...
Racura Oncology Advances RC220 Clinical Program on Solid Cash Footing
Apr 30, 2026
Racura Oncology reported a strong cash position of $19.38 million for the March 2026 quarter, with more than 81% of expenditure directed to RD and drug manufacturing, and additional funding from early option conversions extending its runway to sup...
Racura Wins NSW Grant to Advance BRCA-Targeted Cancer Therapy
Apr 29, 2026
Racura Oncology and the University of Wollongong have secured funding from the New South Wales Government’s TechVouchers program to investigate the efficacy of (E,E)-bisantrene in BRCA-mutated breast and ovarian cancer models. The collaborat...
Racura Oncology Options Lapse, Trimming Future Dilution Risk
Apr 24, 2026
Racura Oncology has announced the cessation of 500,880 options (ASX code RACAAD), which were due to expire on June 30, 2029, at an exercise price of $1.67. These options lapsed because the conditions attached to the rights were not met or could no...
Racura Oncology Seeks ASX Quotation for Over 1 Million New Shares
Apr 23, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 1,067,816 new ordinary fully paid shares, with an issue date of 23 April 2026. The newly issued securities arise from the exercise or conversion of existing options or other convertible s...
Racura Oncology Unveils MYC-Silencing Mechanism for Lead Cancer Drug at AACR 2026
Apr 22, 2026
Racura Oncology has showcased new mechanism-of-action data on its lead drug (E,E)-bisantrene at the 2026 American Association of Cancer Research Annual Meeting in San Diego, underscoring its scientific credentials in the global oncology arena. The...
Racura Oncology Seeks ASX Quotation for 325,199 New Shares
Apr 16, 2026
Racura Oncology Ltd has applied for quotation of 325,199 new fully paid ordinary shares on the ASX, following the exercise or conversion of existing options or other convertible securities. The issuance modestly expands the company’s share c...
Racura Oncology targets Asian investors with Hong Kong and Singapore briefings
Apr 9, 2026
Racura Oncology will hold investor lunch briefings in Hong Kong and Singapore in April, giving shareholders and potential investors direct access to senior management to discuss the company’s strategic and clinical development plans. The Sin...
Racura Oncology Seeks ASX Quotation for Newly Issued Shares
Apr 9, 2026
Racura Oncology Ltd, an Australian oncology-focused biotech company listed on the ASX under ticker RAC, has issued a new tranche of 146,524 ordinary fully paid shares. The move marginally increases the company’s listed equity base and reflec...
Race Oncology Director Boosts Shareholding via $250,000 Option Exercise
Apr 2, 2026
Race Oncology director Daniel Tillett has increased his equity stake in the company by exercising 200,000 options at an exercise price of $1.25 per share, investing a total of $250,000. Following the transaction, Tillett now holds 18,821,009 fully...
Racura Oncology Seeks ASX Quotation for 270,471 New Shares
Apr 2, 2026
Racura Oncology has applied to the ASX for quotation of 270,471 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The additional shares modestly expand the company’s fre...
Racura Oncology Doses First Patient in Phase 1 Lung Cancer Trial of RC220 with Osimertinib
Mar 31, 2026
Racura Oncology has recruited the first patient into its Phase 1 HARNESS-1 trial assessing RC220 in combination with AstraZeneca’s osimertinib for patients with EGFR-mutant non-small cell lung cancer. The study, led initially by Monash Healt...
Racura Oncology posts inaugural R&D symposium video to bolster visibility of late-stage cancer pipeline
Mar 30, 2026
Racura Oncology has released a full video recording of its inaugural Research Development Symposium, held on 24 March 2026 in Sydney, providing investors and stakeholders with on-demand access to all scientific presentations and the audience QA. ...
Racura Oncology Seeks ASX Quotation for 163,122 New Shares
Mar 26, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 163,122 new ordinary fully paid shares, to be issued on March 26, 2026. The additional securities arise from the exercise or conversion of existing options or other convertible instrument...
Racura taps Purdue expertise to decode MYC-silencing mechanism of (E,E)-bisantrene
Mar 25, 2026
Racura Oncology has entered a research collaboration with Purdue University to investigate how its lead compound (E,E)-bisantrene binds to G-quadruplex DNA structures in the MYC gene promoter to silence MYC transcription in cancer cells. The progr...
Racura showcases oncology pipeline at inaugural R&D investor symposium
Mar 24, 2026
Racura Oncology Limited, an ASX-listed Phase 3-stage clinical biopharmaceutical company, develops small-molecule cancer therapies led by (E,E)-bisantrene, which silences the MYC oncogene through G4-DNA and RNA binding and benefits from long-durati...
Racura Oncology Seeks ASX Quotation for Additional Ordinary Shares
Mar 19, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 66,399 new ordinary fully paid shares under its existing ticker RAC, following the exercise or conversion of options or other convertible securities. The additional shares modestly increa...
Racura Completes First RC220 Dose Cohort in Global Solid Tumour Trial
Mar 18, 2026
Racura Oncology has safely dosed the first Hong Kong patient and third overall in its CPACS Phase 1 trial of RC220 in advanced solid tumours, completing recruitment of the initial dose cohort. No phlebitis, dose-limiting toxicities, or other adver...
Racura to unveil MYC-silencing bisantrene data at AACR 2026
Mar 17, 2026
Racura Oncology will present new preclinical data on its (E,E)-bisantrene molecule at the American Association of Cancer Research Annual Meeting 2026 in San Diego, highlighting a mechanism that silences MYC gene expression by stabilising G-quadrup...
Racura Oncology Wins Governance Nod to Launch HARNESS-1 Lung Cancer Trial
Mar 15, 2026
Racura Oncology has secured governance approval from Monash Health to commence its HARNESS-1 Phase 1 trial of RC220 in combination with AstraZeneca’s osimertinib in EGFR-mutated non-small cell lung cancer. The company positions RC220 as an R...
Racura Oncology Seeks ASX Quotation for Additional Ordinary Shares
Mar 12, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 16,620 new ordinary fully paid shares, to be issued on March 12, 2026, under its existing RAC ticker. The additional securities arise from the exercise or conversion of existing options o...
Racura Oncology to List 22,554 New Shares on ASX
Mar 5, 2026
Racura Oncology Ltd has applied for quotation of 22,554 new fully paid ordinary shares on the ASX, to be issued on March 5, 2026. The additional securities arise from the exercise or conversion of existing options or other convertible instruments,...
Racura Oncology to Showcase Bisantrene Strategy at Investor R&D Symposium
Mar 3, 2026
Racura Oncology has invited investors to an in-person RD symposium in Sydney on 24 March 2026, where executives and external experts will outline the science behind (E,E)-bisantrene, review clinical programs, and discuss the company’s commer...
Racura Oncology Plans Investor Briefings in Hong Kong and Singapore
Mar 2, 2026
Racura Oncology has scheduled investor lunch briefings in Hong Kong and Singapore in April, where CEO Dr Daniel Tillett and Executive Chair Dr Pete Smith will update investors on the company’s strategic and clinical development plans. The Si...
Racura Oncology Swings to Loss but Lifts Asset Backing in H1 FY26
Feb 27, 2026
Racura Oncology Limited reported a sharp reversal in financial performance for the half year ended 31 December 2025, posting a net loss after tax of $4.1 million compared with a profit of $0.5 million a year earlier. The company did not declare or...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.