Race Oncologys Latest Capital Raise the Catalyst It Needs for Its Next Major Cancer Trial
Source: Kapitales Research
Highlights:
Race Oncology Limited (ASX: RAC) raised $3.22 million at the time of writing to fund the HARNESS-1 lung cancer trial.
Placement priced at $2.83 per share — a 6% premium to the last closing price and equal to the five-day VWAP.
Trial initiation approved, with first patient expected to enrol in early Q1 2026.
Funding Secured for Critical Phase 1a/1b Study
Race Oncology Limited (ASX: RAC) has successfully completed a $3.22 million private placement, strengthening its financial position ahead of the HARNESS-1 Phase 1a/1b non-small cell lung cancer trial. At the time of writing, the company confirmed that the fresh capital will directly support the initiation of the study, which will test RC220 in combination with Tagrisso® (osimertinib), a targeted therapy widely used in lung cancer treatment.
The placement was completed with the backing of existing sophisticated shareholders and priced at $2.83 per share — a 6% premium to the previous closing price of $2.67 on 8 December 2025. The offer price also aligns with the company’s five-day volume-weighted average price, signalling investor confidence in Race Oncology’s clinical development plans.
Capital Raise Details: Strong Support and Strategic Timing
The company plans to issue 1,139,028 new shares on 10 December 2025 using its existing placement capacity. Alongside the early conversion of Race Oncology’s May 2026 $1.25 options and CEO Dr Daniel Tillett’s commitment to convert his own options, this capital injection ensures the HARNESS-1 trial is fully funded and can proceed without interruption.
The trial has received authorisation from the Human Research Ethics Committee at St Vincent’s Hospital in Melbourne. Final institutional clearance from Monash Health is anticipated between late Q4 2025 and early Q1 2026, setting the stage for first-patient enrolment early next year.
Leadership Commentary and Investor Confidence
Dr Tillett expressed gratitude to shareholders, noting their proactive support allowed the company to accelerate trial commencement. He emphasised the potential of RC220 to deliver meaningful outcomes for cancer patients and acknowledged that the placement and early option exercises were critical to moving forward swiftly.
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Race Oncologys Latest Capital Raise the Catalyst It Needs for Its Next Major Cancer Trial
Highlights:
Funding Secured for Critical Phase 1a/1b Study
Race Oncology Limited (ASX: RAC) has successfully completed a $3.22 million private placement, strengthening its financial position ahead of the HARNESS-1 Phase 1a/1b non-small cell lung cancer trial. At the time of writing, the company confirmed that the fresh capital will directly support the initiation of the study, which will test RC220 in combination with Tagrisso® (osimertinib), a targeted therapy widely used in lung cancer treatment.
The placement was completed with the backing of existing sophisticated shareholders and priced at $2.83 per share — a 6% premium to the previous closing price of $2.67 on 8 December 2025. The offer price also aligns with the company’s five-day volume-weighted average price, signalling investor confidence in Race Oncology’s clinical development plans.
Capital Raise Details: Strong Support and Strategic Timing
The company plans to issue 1,139,028 new shares on 10 December 2025 using its existing placement capacity. Alongside the early conversion of Race Oncology’s May 2026 $1.25 options and CEO Dr Daniel Tillett’s commitment to convert his own options, this capital injection ensures the HARNESS-1 trial is fully funded and can proceed without interruption.
The trial has received authorisation from the Human Research Ethics Committee at St Vincent’s Hospital in Melbourne. Final institutional clearance from Monash Health is anticipated between late Q4 2025 and early Q1 2026, setting the stage for first-patient enrolment early next year.
Leadership Commentary and Investor Confidence
Dr Tillett expressed gratitude to shareholders, noting their proactive support allowed the company to accelerate trial commencement. He emphasised the potential of RC220 to deliver meaningful outcomes for cancer patients and acknowledged that the placement and early option exercises were critical to moving forward swiftly.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au