Race Oncology: Successful Trial and Board Reshuffle

Race Oncology Ltd. (AU:RAC) has released an update.

Race Oncology Ltd announced successful completion of its Phase 1b/2 trial for bisantrene in treating acute myeloid leukaemia, achieving key efficacy endpoints. The company also underwent significant board changes and secured a $20 million R&D tax incentive to accelerate overseas research. With $14.62 million in cash reserves, over 70% of their quarterly spending was directed towards R&D activities.

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