Race Oncology (ASX: RAC)
A small biotech company with an advanced oncology drug designed to treat a rare form of cancer has just listed on the ASX.
This $15 million capped stock has ‘rediscovered’ an orphan drug named Bisantrene.
Bisantrene was previously approved for use in France, subjected to over 40 clinical trials globally, including Phase III trials throughout the 1980s; and had $100M to $200M spent on it before being lost in Big Pharma M&A activity.
In other words, this early stage ASX stock has captured a very late stage drug that is ready for market – and that means near term revenue potential…
The team at this ASX stock have delivered on similar strategies before, and draw on decades of experience in growing pharma business lines in both Big Pharma companies, and early stage, high growth, NASDAQ and ASX stocks.
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This $15 million capped biotech junior has its sights set on the generation of European sales in the near term, and following FDA approval, hundreds of millions of dollars in revenue over the long term – which would bring serious value to its shareholders.