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Racura Oncology Raises AU$34 Million to Fund Three Clinical Trials; Shares Up 3%

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Racura Oncology (ASX:RAC) raised AU$34.3 million in total to fund three RC220 clinical trials in acute myeloid leukemia, epidermal growth factor receptor mutant lung cancer, and chemotherapy-related cardio-protection in solid tumor patients, according to a Tuesday filing with the Australian bourse.

RC220 is the company's formulation of (E,E)-bisantrene, a small molecule anti-cancer agent, the filing said.

The company has raised the funds since June 2024 through bonus and piggyback option conversions, private placements, and option underwriting, per the filing.

Shares rose 3% in afternoon trade on Tuesday.

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