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Race Oncology Ltd.
(Sydney:RAC)
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Rating:42Neutral
Price Target:
AU$2.00
â–¼(-2.44% Downside)
Action:Reiterated
Date:06/27/26
The score is primarily held back by weak financial performance driven by ongoing losses and cash burn, despite the strength of a debt-free balance sheet. Technicals also weigh on the score as the stock trades below major moving averages with negative momentum. Valuation is constrained by a negative P/E and lack of dividend support.
Positive Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and solvency risk for the next several quarters. For a development-stage biotech this conservatism preserves optionality to fund trials or partnerships without immediate leverage pressure, supporting strategic flexibility while clinical programs advance.
Negative Factors
Persistent cash burn
Sustained negative operating and free cash flow means the company must rely on external funding or partnerships to sustain clinical programs. Even with improving burn rates, persistent outflows over multiple quarters create dilution risk and constrain the pace of development absent new capital or revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and solvency risk for the next several quarters. For a development-stage biotech this conservatism preserves optionality to fund trials or partnerships without immediate leverage pressure, supporting strategic flexibility while clinical programs advance.
Read all positive factors
Race Oncology Ltd. (RAC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$415.67M
Dividend YieldN/A
Average Volume (3M)373.28K
Price to Earnings (P/E)―
Beta (1Y)0.18
Revenue GrowthN/A
EPS Growth-15.48%
CountryAU
Employees5
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.05
Shares Outstanding196,068,940
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)-0.1
Revenue Forecast (FY)N/A
Race Oncology Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Sydney, Australia, Race Oncology Limited is a precision oncology company focused on advancing its lead therapeutic, Zantrene. This potent small molecule compound acts as an inhibitor of the fatso/fat mass and obesity associated pr...
How the Company Makes Money
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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. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | AU$5.69B | -525.39 | -1.72% | ― | 59.13% | -121.52% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | AU$958.82M | -9.18 | -59.59% | ― | ― | -70.72% | |
45 Neutral | AU$52.05M | -0.78 | -93.08% | ― | 116.02% | 75.56% | |
42 Neutral | AU$415.67M | -38.26 | -47.44% | ― | ― | -15.48% | |
41 Neutral | AU$40.16M | -0.37 | -134.65% | ― | ― | 62.72% | |
40 Underperform | AU$78.11M | -0.89 | -69.20% | ― | ― | -73.11% |
* Healthcare Sector Average
AU:RAC
Race Oncology Ltd.
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0.01
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-60.00%
Race Oncology Ltd. Corporate Events
Racura Oncology CEO to Spotlight Phase 3 Cancer Programs at TechKnow Invest Conference
Jul 29, 2026
Racura Oncology Ltd, an ASX-listed Phase 3 biopharmaceutical company, is developing its lead anticancer agent (E,E)-bisantrene through the proprietary RC220 formulation to treat MYC-driven cancers, including acute myeloid leukaemia and EGFR-mutate...
Racura Advances HARNESS-1 Trial After Safe First-Patient Treatment With RC220 Combo
Jul 28, 2026
Racura Oncology reported that the first patient in its HARNESS-1 Phase 1 trial has been safely treated with RC220 at 50 mg/m2 in combination with daily osimertinib, with no dose-limiting toxicities or treatment-related safety concerns observed dur...
Race Oncology Options Expire, Slightly Tightening Capital Structure
Jul 12, 2026
Race Oncology Ltd has announced the expiry of 270,000 options with an exercise price of $4.76, which lapsed unexercised on 12 July 2026. The cessation of these securities marginally reduces the company’s potential future share dilution, slig...
Racura to Present RC220 Cardio-Oncology Phase 1 Data at 2026 Global Summit
Jul 9, 2026
Racura Oncology will present new clinical data from its ongoing CPACS Phase 1 trial of RC220 in combination with doxorubicin at the 2026 Global Cardio-Oncology Summit in Williamsburg, Virginia. The company aims to showcase RC220’s potential ...
Racura Oncology to Spotlight RC220 Pipeline at New Zealand Investor Events
Jul 6, 2026
Racura Oncology will host an investor briefing in Auckland, New Zealand, on 5 August 2026, where Executive Chair Dr Peter Smith will update shareholders on the company’s strategy and the rapid advancement of its RC220 program across three ma...
Racura Oncology gains ethics approval to expand HARNESS-1 lung cancer trial
Jul 2, 2026
Racura Oncology has secured ethics approval from the Bellberry Human Research Ethics Committee for its HARNESS-1 clinical trial in EGFR-mutant non-small cell lung cancer, expanding the number of Australian sites that can participate. This follows ...
Race Oncology Options Expire Unexercised, Trimming Potential Dilution
Jul 1, 2026
Race Oncology Ltd has confirmed the lapse of 222,219 RACAM options, which expired on 1 July 2026 with an exercise price of $4.90, without being exercised or converted. The cessation of these options marginally reduces the company’s potential...
Racura Oncology Begins Dosing in Phase 1 HARNESS-1 Lung Cancer Trial
Jun 24, 2026
Racura Oncology has commenced patient dosing in its HARNESS-1 Phase 1a/b trial, treating the first EGFR-mutant non-small cell lung cancer patient with RC220 at 50mg/m² alongside standard therapy osimertinib without observing adverse events. T...
Racura Oncology Sets Investor Briefings in Perth and Auckland
Jun 16, 2026
Racura Oncology has scheduled investor briefings in Perth on 26 June 2026 and Auckland on 5 August 2026, where senior executives will provide company updates and take questions from shareholders. The Perth session will be hosted by CEO Daniel Till...
Racura Oncology Raises $34.3m to Fully Fund RC220 Cancer Trials
Jun 16, 2026
Racura Oncology has secured a total of $34.3 million since June 2024 through option conversions, private placements and partial placement of underwritten options, all without broker or underwriter fees, to bolster its balance sheet. The capital ra...
Racura Oncology Issues New Shares Under Option Underwriting to Support Clinical Pipeline
Jun 16, 2026
Racura Oncology has issued and allotted 509,205 fully paid ordinary shares at $1.25 per share as part of a recently announced option exercise and shortfall share process under an underwriting agreement. The company confirmed the shares were issued...
Racura Oncology Seeks ASX Quotation for Over 500,000 New Shares
Jun 16, 2026
Racura Oncology has applied to the ASX for quotation of 509,205 new ordinary fully paid shares, with an issue date of 16 June 2026. The additional securities, lodged via an Appendix 2A, will modestly expand the company’s listed capital base ...
Racura Raises $24.4m as 97% of Piggyback Options Are Exercised
Jun 4, 2026
Racura Oncology has secured $24.38 million from the exercise of 97% of its $1.25 Piggyback Options, with 19,510,592 of 20,141,793 options converted before expiry. Combined with proceeds from an earlier bonus option offer, total funds raised reach ...
Racura Oncology Options Lapse, Trimming Potential Equity Dilution
Jun 4, 2026
Racura Oncology has announced the cessation of 631,201 listed options with the code RACAAA, which carried an exercise price of $1.25 and expired on 29 May 2026 without being exercised or converted. The expiry of these options reduces the company&#...
Racura Oncology Raises $31.2m as Specialist Investor Takes Strategic Stake
Jun 3, 2026
Racura Oncology has secured a binding commitment from a specialist institutional investor for a strategic private placement of 526,315 shares at $1.90, a discounted price that allows the investor to establish an initial equity stake. The placement...
Racura Oncology Seeks ASX Quotation for Additional Ordinary Shares
Jun 1, 2026
Racura Oncology has applied to the ASX for quotation of 38,064 new ordinary fully paid shares, following the exercise of options or conversion of other securities, expanding its issued capital base. The additional quoted shares marginally increase...
Racura Oncology Seeks ASX Quotation for Over 1.1 Million New Shares
May 29, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 1,169,259 new fully paid ordinary shares under the ticker RAC, with an issue date of 29 May 2026. The additional securities, arising from the exercise or conversion of existing options or...
Racura Oncology Plans Share Placement to Fund Oncology Programs
May 28, 2026
Racura Oncology Ltd, an ASX-listed biotech company focused on cancer therapies, is leveraging public markets to support its operations and development pipeline. The company issues ordinary fully paid shares to raise capital for its oncology-focuse...
Racura Oncology underwrites expiring options to secure $25m for cancer trials
May 28, 2026
Racura Oncology has secured an underwriting agreement with investor Dr AJ Robinson to cover up to 1,838,524 unexercised $1.25 piggyback options, ensuring full conversion of its expiring options without paying any underwriting fees. This move follo...
Racura Oncology director boosts stake with $500,000 option exercise
May 28, 2026
Racura Oncology director Daniel Tillett has increased his direct equity stake in the company by exercising 400,000 options at an exercise price of $1.25, investing a total of $500,000. The move converts his options into fully paid ordinary shares ...
Racura Oncology Seeks ASX Quotation for 1.5 Million New Shares
May 28, 2026
Racura Oncology has applied to the ASX for quotation of 1,517,085 new fully paid ordinary shares, which were issued on 28 May 2026. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company...
Racura Oncology Director Boosts Stake With $500,000 Option Exercise
May 26, 2026
Racura Oncology has reported a change in the holdings of director Daniel Tillett, who has exercised 400,000 options at an exercise price of $1.25 each, investing a total of $500,000. The exercise converted these options into fully paid ordinary sh...
Racura Oncology Seeks ASX Quotation for Nearly 1.9 Million New Shares
May 26, 2026
Racura Oncology Ltd has applied for quotation on the ASX of 1,896,779 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The new shares, issued on 26 May 2026, will expand the ...
Racura Oncology Director Increases Equity Stake Through Option Exercise
May 21, 2026
Racura Oncology Limited has disclosed a change in director Daniel Tillett’s holdings, as required under ASX listing rules, following the exercise of a portion of his share options. Tillett converted 248,342 options exercisable at $1.25 into ...
Racura Oncology Seeks ASX Quotation for 1.45 Million New Shares
May 21, 2026
Racura Oncology Ltd has applied to the ASX for quotation of 1,447,653 new ordinary fully paid shares, expanding its listed securities on the market. The newly issued shares, effective 21 May 2026, modestly increase the company’s equity base ...
Racura Oncology Urges Early Action as Discounted Piggyback Options Near 2026 Expiry
May 21, 2026
Racura Oncology has reminded holders of its RACOPT43 piggyback options that these securities will expire at 5:00pm AEST on 29 May 2026, with each option allowing subscription for one share at $1.25, a level the company notes is well below the curr...
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...
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.
Disclaimer
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.