Racura Oncology (ASX:RAC) Clears First Dose Cohorts in Two RC220 Trials and Reports A$30.7m in Cash

Sonal Goyal

22 October 2026 12:09 PM AEDT

Racura Oncology (ASX:RAC) Clears First Dose Cohorts in Two RC220 Trials and Reports A$30.7m in Cash

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Key Highlights

Cash and cash equivalents were A$30.735 million at 30 September 2026, down from A$34.290 million at the start of the quarter.
Net operating cash outflow was A$3.542 million, giving 8.68 estimated quarters of funding in the Appendix 4C.
The HARNESS-1 Safety Review Committee cleared escalation to 100 mg/m2 after no dose-limiting toxicities in two patients at 50 mg/m2.
The CPACS Phase 1 trial activated its first South Korean site on 1 September 2026.

Racura Oncology Ltd (ASX:RAC) has reported its first quarter of the 2027 financial year, covering the period ended 30 September 2026. The clinical-stage company closed the quarter with cash and cash equivalents of A$30.7 million and reports that its two Phase 1 trials of RC220, its proprietary formulation of (E,E)-bisantrene, have each cleared their first dose cohorts without dose-limiting toxicities.

Managing Director Dr Daniel Tillett said the company is funded to continue advancing RC220 into mid-CY2028, and the quarter included trial expansion into South Korea and additional ethics approvals for sites in New South Wales and Victoria.

HARNESS-1 Lung Cancer Trial Progress

On 3 July 2026, the Bellberry Human Research Ethics Committee approved the HARNESS-1 trial, which evaluates RC220 with osimertinib in patients with EGFR-mutated non-small cell lung cancer. Chris O'Brien Lifehouse and Austin Health then moved into governance and start-up activities.

On 29 July 2026, Racura said the first patient treated with the combination had completed safety review with no dose-limiting toxicities or treatment-related safety concerns. The independent Safety Review Committee recommended continuing the trial and enrolling one more patient at the same dose before any escalation.

After the quarter ended, on 12 October 2026, the committee cleared the trial to escalate RC220 to the next planned dose level of 100 mg/m2. That decision followed a review of Cohort 1, in which neither of the two patients treated at 50 mg/m2 showed dose-limiting toxicities or treatment-related safety concerns.

CPACS Trial and Preclinical Data

The CPACS Phase 1 trial combines RC220 with doxorubicin in patients with advanced malignancies. It was selected for presentation at the 2026 Global Cardio-Oncology Summit, and on 7 October 2026 Racura presented completion of the first dose cohort with no dose-limiting toxicities, along with progression to the next RC220 dose level. Enrolment is continuing across Australia, Hong Kong and South Korea.

On 1 September 2026, the company announced activation of its first South Korean site for CPACS, with further Korean sites due to open shortly afterwards. Racura said the larger site network was expected to accelerate recruitment and trial progress.

On 8 September 2026, the company announced that new preclinical data supporting the G4-binding mechanism of (E,E)-bisantrene and its inhibition of MYC gene transcription had been accepted for the 2026 Frontiers in Cancer Science Conference in Singapore.

Cash Flow, Funding and Shareholders

The Appendix 4C shows cash and cash equivalents falling from A$34.290 million at the start of the quarter to A$30.735 million at its close. Net cash used in operating activities was A$3.542 million, and investing outflows were A$13,000. There were no financing inflows.

Within operating payments, research and development accounted for A$2.739 million, product manufacturing and operating costs for A$243,000, advertising and marketing for A$104,000, staff costs for A$503,000, and administration and corporate costs for A$564,000. Interest received was A$496,000 and government grants and tax incentives contributed A$115,000.

The cash balance comprised A$2.235 million in bank balances and A$28.5 million in call deposits, with no financing facilities in place. The Appendix 4C estimates 8.68 quarters of funding. On 11 August 2026, Racura also received a further A$117,875 R&D Tax Incentive refund for A$243,041 of eligible overseas activities in FY2025, lifting the total FY2025 refund to A$2,905,348. Related-party payments for the quarter were reported at about A$199,000 in the activity report, comprising executive director salaries and superannuation and non-executive director fees.

Vanessa Neve and Shinam Garg joined as Clinical Project Managers for HARNESS-1 and EMILI, and Dr Chris Goon joined as Associate Medical Director. Dr Rodney Cusack and Dr Feroz Ahmad attended the Thoracic Oncology Group of Australasia meeting in Melbourne from 15 to 17 July 2026.

Racura had 9,606 shareholders and 196,068,940 units on issue at 30 September 2026, and the number holding more than 100,000 shares increased over the quarter. Dr Tillett held 20,094,730 units, or 10.25%, and the top 20 holders together held 31.84%. The annual general meeting is scheduled for 23 November 2026.

Summing Up the Quarter

Racura reports two trials that have cleared their first dose cohorts, a widening site footprint, and A$30.735 million in cash against a quarterly operating outflow of A$3.542 million. The company also reports new clinical hires and a post-quarter annual general meeting date of 23 November 2026.

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