The Race Oncology Ltd (ASX: RAC) share price is watch after its drug is showing impressive preclinical results to kill breast cancer
The post Race Oncology (ASX: RAC) share price higher on preclinical breast cancer results appeared first on The Motley Fool Australia. –
The Race Oncology Ltd (ASX: RAC) share price is 9.4% higher at the time of writing following preclinical breast cancer results.
Race Oncology share price on the move after compelling results
Race Oncology is developing a cancer-fighting drug called Bisantrene. Today, the company announced the final results of its collaborative preclinical research program that aimed to identify combinations of existing breast cancer drugs that, when paired with Bisantrene, could show equivalent or better efficacy than existing treatment options.
It was announced on 24 November 2020 that Bisantrene can kill some breast cancer cells resistant to existing drugs. Also, it showed near identical additive benefit when used in combination with existing breast cancer drugs.
Today’s announcement highlights Bisantrene’s ability to kill breast cancer cells resistant to a wide range of various breast cancer drugs. It also reinforced previous claims that Bisantrene acts very similarly to existing breast cancer drugs doxorubicin and epirubicin, when used in combination with cyclophosphamide, a medication used as chemotherapy to suppress the immune system.
The results are highly supportive of the company’s plans for progressing Bisantrene as a safer alternative to current treatment options used in breast cancer treatment.
Further studies are currently planned to explain the clinical significance of fat mass and obesity associated (FTO) protein. The over-expression of FTO, otherwise explained as when the body creates too many proteins, has been shown to be a genetic driver of a diverse range of cancers. The company also intends to further expand the range of clinically usable Bisantrene drug combinations.
Race Oncology share price is on a tear
The market is clearly anticipating big things from Race Oncology as its share price has run over 1,000% in the last 12-months. Race notes that it is pursuing ‘outsized commercial returns’ for its shareholders via its three pillar strategy for the clinical development of Bisantrene.
The company now boasts a market capitalisation of $487.3 million with $5.57 million in cash and cash equivalents on 31 December 2020.
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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.