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Race Oncology Ltd.
(Sydney:RAC)
Race Oncology Ltd. (RAC) vs. iShares MSCI Australia ETF (EWA)
Race Oncology Ltd. Business Overview & Revenue Model
Race Oncology Ltd. Financial Statement Overview
| 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
Race Oncology Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | AU$50.81M | -25.86 | 27.24% | 2.81% | 0.65% | -9.90% | |
52 Neutral | AU$94.16M | -14.80 | -47.98% | ― | 700.00% | 26.88% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$66.25M | -5.28 | -49.72% | ― | ― | 10.78% | |
44 Neutral | AU$414.28M | -29.29 | -27.89% | ― | ― | 67.26% | |
41 Neutral | AU$76.13M | -2.12 | -42.68% | ― | ― | 63.46% | |
41 Neutral | AU$130.13M | -2.84 | ― | ― | ― | 0.66% |
Race Oncology Ltd. Corporate Events
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 pay any dividends for the period, indicating a continued focus on conserving capital for operations and development activities rather than returning cash to shareholders.
Despite the swing to loss, Racura’s net tangible assets per share improved to 11.71 cents from 10.39 cents, suggesting the balance sheet asset backing per security has strengthened. The absence of changes in control over entities and the lack of a dividend reinvestment plan point to a relatively stable corporate structure, with stakeholders’ attention likely to remain on how management steers the business back toward profitability while sustaining asset value.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology has developed a new blood-based molecular test designed to measure how effectively its candidate RC220 protects the heart from damage caused by anthracycline chemotherapy, notably doxorubicin. Enabled by recent insights into the mechanism of (E,E)-bisantrene, the test will use patient samples from the ongoing RAC-010 cardioprotection and anticancer synergy trial to quantify RC220’s impact on cardiotoxic molecular pathways.
By integrating this assay into the early dose-escalation phase, Racura expects to obtain cardioprotective data more than two years ahead of prior plans, potentially accelerating clinical decision-making and improving trial safety and recruitment. Implementing the test required a modified trial protocol, including an initial doxorubicin-only cycle and extensive regulatory and ethics approvals across Australia, Hong Kong, and South Korea, with Australian clearance now in place and broader Asia approvals pending, as recruitment momentum begins to build again.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has notified the market of a new selective share buy-back program covering its ordinary fully paid shares traded under the ASX code RAC. The move signals an active capital management initiative that may affect the company’s share structure and could be interpreted by investors as a sign of confidence in its valuation and long-term strategy.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology has disclosed that a November 2025 cashless exercise of 4 million unlisted options by its current and former chief executives resulted in an administrative error, with 179,242 more shares being issued and recorded than intended. The company has placed a holding lock on these excess shares and plans a selective buyback and cancellation, subject to approval at its upcoming annual meeting, in a move aimed at rectifying the capital structure discrepancy and reassuring shareholders about governance and disclosure practices.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has applied to the ASX for quotation of 23,047 new fully paid ordinary shares, following the exercise or conversion of options or other convertible securities. The relatively small issuance modestly increases the company’s share capital and reflects ongoing conversion of existing equity instruments, with limited immediate impact on ownership structure but signalling continued engagement from holders of its options or convertible securities.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has applied to the ASX for quotation of 141,645 new fully paid ordinary shares, issued on 29 January 2026, following the exercise or conversion of existing options or other convertible securities. The additional quoted shares modestly increase the company’s free float and capital base, reflecting ongoing investor participation in Racura’s equity and potentially supporting its funding capacity for future oncology development activities.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology reported a strong quarter to 31 December 2025, with cash and equivalents of $20.94 million and more than 63% of expenditure directed to R&D and drug manufacturing, supported by $8.8 million in new funding from early option conversions and a premium-priced private placement. Operationally, the company secured composition-of-matter patent filings over the (E,E)-bisantrene isoform, unveiled a new primary mechanism of action showing the drug binds and stabilises G-quadruplex DNA and RNA structures linked to key cancer drivers such as MYC, expanded its clinical strategy with new RC220 programs in EGFR-mutant non-small cell lung cancer and acute myeloid leukaemia, obtained ethics approval for the HARNESS-1 Phase 1a/b lung cancer trial, and strengthened its scientific leadership with the appointment of G4-drug specialist Professor Laurence Hurley, positioning Racura to advance multiple pivotal and combination studies through 2027.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Race Oncology has disclosed a change in the holdings of director Daniel Tillett, who exercised 400,000 options at an exercise price of $1.25 each, investing $500,000 to convert them into fully paid ordinary shares. Following this transaction, Tillett’s direct interest increased to 18,472,378 ordinary shares, while his remaining options at the $1.25 strike decreased to 1,748,342, with no trades occurring during a closed period, signalling continued director alignment with shareholders through increased equity exposure.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has applied for quotation on the ASX of 470,501 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The additional share quotation modestly increases the company’s listed capital base, potentially enhancing liquidity for shareholders and reflecting ongoing utilisation of equity-linked incentives or financing structures without signaling a major change in strategic direction.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Race Oncology Ltd has applied to the ASX for quotation of 27,762 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The modest new share issuance slightly expands the company’s listed capital base and reflects ongoing conversion of equity-linked instruments, with limited immediate impact on existing shareholders but incremental enhancement of the company’s tradable free float.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology has entered a collaboration with Emory University to study its lead candidate (E,E)-bisantrene (RC220) in osimertinib-resistant EGFR-mutated non-small cell lung cancer, leveraging Emory’s specialised cell and mouse models and the expertise of lung cancer resistance specialist Professor Shi-Yong Sun. Early preclinical data from the partnership show significant synergy between RC220 and AstraZeneca’s blockbuster drug Tagrisso (osimertinib), supporting Racura’s HARNESS-1 Phase 1a/b trial that aims to delay or prevent treatment resistance in EGFRm NSCLC patients, potentially strengthening Racura’s scientific platform and enhancing its positioning for engagement with clinicians, regulators and prospective pharma partners in a large and growing market for EGFR-targeted therapies.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has applied for quotation on the ASX of 29,217 new ordinary fully paid shares, effective 8 January 2026, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted securities reflects ongoing capital management and may slightly broaden the company’s free float and shareholder base without materially altering its overall capital structure.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology Ltd has applied for quotation on the ASX of 5,469 new ordinary fully paid shares following the exercise or conversion of existing options or other convertible securities, with an issue date of 2 January 2026. The modest increase in quoted securities slightly expands the company’s share capital base and reflects ongoing capital management activity, but does not, on the information provided, indicate a material change to its operations or strategic position.
The most recent analyst rating on (AU:RAC) stock is a Hold with a A$2.50 price target. To see the full list of analyst forecasts on Race Oncology Ltd. stock, see the AU:RAC Stock Forecast page.
Racura Oncology has appointed Australian contract research organisation Beyond Drug Development to support its HARNESS-1 Phase 1a/b trial of RC220 in combination with osimertinib in patients with EGFR-mutated non-small cell lung cancer, with the study planned at five Australian sites and first patient recruitment targeted for the first quarter of calendar 2026, subject to governance approvals. The agreement, structured under a Master Service Agreement with an estimated value of $3.05 million based on enrolment of up to 80 patients, gives Racura access to Beyond’s flexible trial design and operational expertise, including advanced features such as circulating tumour DNA biomarkers, accelerated single-patient cohorts and a Bayesian Optimised Interval Design, marking a key operational milestone in bringing RC220 into the clinic and potentially strengthening Racura’s position in the competitive lung cancer treatment landscape.
Racura Oncology Ltd has applied to the ASX for quotation of 32,658 new fully paid ordinary shares, to be issued on 23 December 2025 following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted capital reflects ongoing utilisation of equity-linked incentives or financing arrangements, marginally expanding the company’s shareholder base and providing additional capital flexibility to support its oncology drug development programs.
Racura Oncology announced that CEO Dr. Daniel Tillett has begun early conversion of $1.25 Piggyback Options and acquired shares to ensure funding for its HARNESS-1 lung cancer trial, reaffirming his confidence in the company’s clinical and commercial potential. This action, along with support from other stakeholders, highlights the company’s commitment to advancing its innovative drug pipeline and solidifying its position in the oncology market.
Race Oncology Ltd. announced the successful issuance of additional securities, totaling 311,838 ordinary fully paid shares, which will be quoted under the ASX code ‘RAC’. This move reflects the strategic growth initiatives of the company and may enhance its market position while offering potential value to stakeholders.
Racura Oncology Ltd announced the issuance of 1,139,027 new shares at $2.83 each as part of a capital raising effort. This move allows immediate trading of the shares, potentially enhancing liquidity and supporting the company’s ongoing clinical programs and strategic initiatives in the oncology sector.
Racura Oncology Ltd has officially changed its name from Race Oncology Limited following shareholder approval and registration with the Australian Securities and Investments Commission. The company’s ASX listing code remains unchanged. This rebranding aligns with Racura’s mission to enhance its positioning in the biopharmaceutical industry, focusing on innovative cancer treatments and strategic collaborations to expand its market reach.
Race Oncology Ltd has announced a proposed issue of 1,139,028 ordinary fully paid securities, with the issue date set for December 10, 2025. This move is part of a placement or other type of issue, which could potentially impact the company’s market positioning and stakeholder interests by increasing its capital base.
Race Oncology has secured $3.22 million through a private placement to fund its HARNESS-1 Phase 1a/b trial for non-small cell lung cancer, combining RC220 with Tagrisso®. The trial, expected to enroll its first patient by early Q1 2026, has received ethical approval, and the funding reflects strong shareholder support, positioning Race Oncology to advance its cancer treatment initiatives.
Race Oncology Ltd has announced the quotation of 497,031 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 4, 2025. This move is part of the company’s strategic efforts to enhance its financial positioning and increase its market presence, potentially impacting stakeholders by providing more liquidity and investment opportunities.