Australia's Race Oncology hits over two-year high on drug breakthrough, patent applications

Racura Oncology

16/09/2025 06:00

** Shares of Australia's Race Oncology RAC.AX jump as much as 27.8% to A$2.30, their highest level since March 6, 2023

** Biopharmaceutical co makes a discovery involving the composition matter of the drug Bisantrene, which it found to consist of three photoisomers with different biological and anti-cancer activities

** Based on discovery, filed 3 patent applications to protect the composition of matter, manufacturing, formulation, and uses of (E,E)-Bisantrene

** IP generation fundamentally changes the commercial prospects of the company, says CEO Daniel Tillett

** Stock last up 22.8%, set for best session since February 9, 2021

** YTD, RAC up 63.7%, including the session's gains

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))