- Race Oncology (RAC) advanced studies of its cancer-treating drug, Zantrene over the June quarter
- The drug was found to protect the hearts of mice against the damage caused by certain chemotherapy drugs
- During the period, the company reported cash outflows of $2.16 million, with its largest expense being the $1.33 million directed towards research and development
- The company finished the quarter with $33.54 million in cash and equivalents
- Shares were trading 4.90 per cent higher at $2.14 each at 12:27 pm AEST
Race Oncology (RAC) has advanced studies of its cancer-treating drug, Zantrene over the June quarter.
The company noted its most notable success was when the drug was found to protect the hearts of mice against the damage caused by certain chemotherapy drugs.
Chairman John Cullity said the company plans to accelerate this program forward.
“As a former clinician, I’m entirely alert to the impact that select chemotherapies have on the heart,” he said.
“It is remarkable that Zantrene might both enhance cancer cell kill while protecting the heart – so potentially reshaping cancer therapeutics.”
Meanwhile, “encouraging” clinical results were reported in its acute myeloid leukemia (AML) study in Israel, which has progressed to phase two.
During the period, the company reported cash outflows of $2.16 million, with its largest expense being the $1.33 million directed towards research and development.
Looking ahead, it has planned to progress studies of Zantrene in a wide range of cancer types, including pre-clinical in vitro and in vivo studies as well as clinical trials.
The company finished the quarter with $33.54 million in cash and equivalents.
Shares were trading 4.90 per cent higher at $2.14 each at 12:27 pm AEST.