Racura Oncology (RAC) H2 2025 earnings summary

Executive summary

• Achieved significant clinical milestones, including the first safe dosing of RC220 and RC220+doxorubicin in Phase 1 trials for advanced solid tumours, with no dose-limiting adverse effects reported.

• Expanded clinical trial footprint to Asia, with approvals for sites in Hong Kong and plans for South Korea.

• Strengthened leadership with key appointments, including a new CMO, VP of Medical, and additions to the board and Clinical Advisory Board.

• Completed a successful FTO-targeted drug discovery program, generating 39 new molecular candidates and valuable IP.

• Terminated a global IP license agreement, consolidating IP strategy and reducing future costs.

Financial highlights

• Net loss after tax for FY2025 was $4.79 million, a significant improvement from a $13.82 million loss in FY2024.

• Cash and cash equivalents at 30 June 2025 were $13.67 million.

• R&D Tax Incentive income of $5.25 million received.

• Over 83% of Q4 2025 expenditure ($3.11 million) directed to R&D and drug manufacturing.

• No dividends declared or paid.

Outlook and guidance

• Well-funded to support all announced clinical and preclinical programs through CY2026.

• Focus remains on advancing RC220 clinical trials, exploring strategic partnerships, and delivering shareholder value.

• Goal to achieve commercial outcomes via sale, partnerships, or licensing.