Australia's Race Oncology advances on premium placement

Racura Oncology

08/12/2025 23:58

** Shares of Race Oncology RAC.AX rise as much as 10.1% to A$2.94, their largest intraday pct jump since November 17

    ** Biopharmaceutical firm receives commitments to raise A$3.22 million ($2.13 million) via a placement

    ** Placement issue price at A$2.83 per share, a 6% premium to stock's last close

    ** Says funds will be used to advance the commencement of co's HARNESS-1 phase 1 trial for non-small cell lung cancer

    ** Stock up 109.6% YTD, including the day's moves

($1 = 1.5090 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))