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$3.00
â–²(11.11% Upside)
Action:ReiteratedDate:03/20/26
The score is held back primarily by weak financial performance (ongoing losses and persistent cash burn, plus a sharp FY2025 revenue decline), partially offset by a debt-free balance sheet and improving loss/burn trends. Technicals are a meaningful positive with the stock trading above key moving averages and modestly positive momentum, while valuation remains pressured due to negative earnings and no dividend yield provided.
Positive Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces refinancing and interest-rate exposure, giving Race durable financial flexibility. For a development-stage biotech, a debt-free balance sheet preserves optionality to fund clinical programs via partnerships or equity and lowers near-term solvency risk.
Negative Factors
Persistent Cash Burn
Chronic negative operating and free cash flow show the business is not self-funding and continually consumes capital. Persistent cash burn forces recurrent financing, increasing dilution risk, diverting management attention to funding, and constraining multi-year program commitments without secured funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-Free Balance Sheet
Zero reported debt materially reduces refinancing and interest-rate exposure, giving Race durable financial flexibility. For a development-stage biotech, a debt-free balance sheet preserves optionality to fund clinical programs via partnerships or equity and lowers near-term solvency risk.
Read all positive factors
Race Oncology Ltd. (RAC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$465.43M
Dividend YieldN/A
Average Volume (3M)373.28K
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue GrowthN/A
EPS Growth67.26%
CountryAU
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.02
Shares Outstanding181,806,950
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
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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. Technical Analysis
Positive
2.70
Price Trends
2.44
Positive
2.70
Negative
2.33
Positive
Market Momentum
0.05
Negative
54.54
Neutral
73.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:RAC, the sentiment is Positive. The current price of 2.7 is above the 20-day moving average (MA) of 2.40, above the 50-day MA of 2.44, and above the 200-day MA of 2.33, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 54.54 is Neutral, neither overbought nor oversold. The STOCH value of 73.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
57 Neutral | AU$39.28M | -25.86 | 10.35% | 2.81% | 0.65% | -9.90% | |
54 Neutral | AU$465.43M | -29.29 | -47.44% | ― | ― | 67.26% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | AU$55.73M | -5.28 | -62.49% | ― | ― | 10.78% | |
42 Neutral | AU$80.88M | -14.80 | -40.65% | ― | 700.00% | 26.88% | |
41 Neutral | AU$76.13M | -2.12 | -30.19% | ― | ― | 63.46% | |
41 Neutral | AU$138.81M | -2.84 | 279.21% | ― | ― | 0.66% |
* Healthcare Sector Average
AU:RAC
Race Oncology Ltd.
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Race Oncology Ltd. Corporate Events
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...
Racura fast-tracks RC220 cardioprotection data with novel blood test in CPACS trial
Feb 10, 2026
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 me...
Racura Oncology Launches Selective Share Buy-Back Program
Feb 5, 2026
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’...
Racura Moves to Correct Capital Structure After Option Exercise Error
Feb 5, 2026
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. Th...
Racura Oncology Seeks ASX Quotation for 23,047 New Ordinary Shares
Feb 5, 2026
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’...
Racura Oncology Seeks ASX Quotation for 141,645 New Shares
Jan 29, 2026
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 m...
Racura Oncology Secures Key Bisantrene Patent Filings, Expands RC220 Clinical Programs and Bolsters Cash Position
Jan 29, 2026
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 RD and drug manufacturing, supported by $8.8 million in new funding from early option conversio...
Race Oncology Director Increases Shareholding via $500,000 Option Exercise
Jan 22, 2026
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, Till...
Racura Oncology Seeks ASX Quotation for 470,501 New Shares
Jan 22, 2026
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 com...
Race Oncology Seeks ASX Quotation for 27,762 New Ordinary Shares
Jan 15, 2026
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&#...
Racura Oncology Taps Emory Expertise to Tackle Osimertinib Resistance in Lung Cancer
Jan 13, 2026
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...
Racura Oncology Seeks Quotation of 29,217 New Ordinary Shares on ASX
Jan 8, 2026
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 se...
Racura Oncology Seeks ASX Quotation for Additional Ordinary Shares
Jan 2, 2026
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...
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.