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Independent Investment Research

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Compelling value upside for Race

A new report by Independent Investment Research suggests that Australian biotech Race Oncology (ASX:RAC) is significantly undervalued.

The report valued RAC at $0.40 per share, based on the Company’s three key value drivers: (1) NPP Sales; (2) FDA approval of Bisantrene; and (3) RPD designation and PRV.

Race Oncology is making its cancer drug Bisantrene available for the treatment of Acute Myeloid Leukaemia (AML) under Named Patient Programs (NPP) in Europe. Receiving the first order for Bisantrene will be an important milestone.

Company is also preparing to start the final step in FDA approval of Bisantrene in the US, with a registration trial set to start later next year.

Finally, the FDA granted Bisantrene ‘Rare Paediatric Disease’ (RPD) Designation for childhood AML. This could lead to a Priority Review Voucher (PRV) with a value of more than US$100 million.


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