Race Oncology (ASX:RAC) shares close strong. Here’s why 

Highlights

  • Race Oncology announced encouraging outcomes from its joint preclinical melanoma research program with the University of Newcastle. 
  • The Company stated that the results proved Zantrene’s efficacy at killing high-Fat Mass and Obesity-associated protein (FTO) producing melanoma cell subtypes of different ranges. 
  • Backed by this announcement, the stock RAC rose over 4% to trade at AU$3.520 per share on ASX during the trading session.  

ASX-listed specialty pharmaceutical company Race Oncology Limited (ASX:RAC) on Thursday announced interim outcomes from its joint preclinical melanoma research program with the University of Newcastle.

The Company stated that the results proved Zantrene’s efficacy at killing high-Fat Mass and Obesity-associated protein (FTO) producing melanoma cell subtypes of different ranges. In addition, the Company revealed that Zantrene has been classified as a powerful targeted inhibitor of the Fat Mass and Obesity-associated protein (FTO).  

The announcement stated:  

  • Zantrene® has proved its pungent efficacy in killing melanoma cells at sub-chemotherapeutic levels.   
  • Sensitivity to Zantrene® remains unaffected with BRAF and NRAS mutational status.  
  • Results from the expression of the FTO indicated a connection between FTO expression level and sensitivity to Zantrene.   
  • Past studies have noted that FTO is over-produced in nearly 50% of metastatic melanomas and that inhibition of FTO can defeat PD-1 immune checkpoint endurance in mouse melanoma models. 
  • PD-1 immune checkpoint inhibitors have gained significance as a front-line treatment for Melanoma and other cancer types. Though significant development has been made in melanoma treatments in recent times, the five-year survival rate for advanced Melanoma is still meagre.    

Also Read: Three trending ASX tech stocks of the day - EML, DTC, GTK   

The interim results will encourage future clinical trials in Melanoma using Zantrene® along with another standard of care treatments.

RAC closed at AU$3.470 per share, up 2.662% on ASX today.   

Bottom Line:   

There has been no cure for Melanoma until now, and the fatal disease holds special significance with respect to the Australian community. Therefore, this outcome from the study will surely help RAC to provide new treatment options to the patients. Besides, the encouraging results will further support clinical trials for Zantrene, as the correlation between FTO overexpression and sensitivity to Zantrene indicates a high anti-FTO therapeutic opportunity.  

Also Read: ASX shares that delivered over 100% returns in last three months 

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK