Racura Oncology (RAC) H2 2026 earnings summary

Executive summary

• Revenue from ordinary activities decreased by 22.2% to $613,291 year-over-year, while net loss after tax increased by 131.6% to $11,088,270 compared to the prior year.

• Major scientific advances included the discovery of (E,E)-bisantrene's MYC gene silencing mechanism and new composition of matter patents, expanding clinical and IP opportunities.

• Three clinical programs advanced: Phase 3 in AML, Phase 1a/b HARNESS-1 in EGFR-mutated NSCLC, and Phase 1a/b CPACS for cardioprotection in solid tumors.

• Over $34 million was raised, fully funding clinical programs into CY2028.

Financial highlights

• Net loss after tax was $11.09 million, up from $4.79 million in the previous year.

• Revenue declined to $613,291, primarily from interest and R&D tax incentives.

• R&D tax incentive income recognized was $2.78 million.

• Cash and cash equivalents at year-end were $34.3 million, up from $13.7 million.

• Net tangible assets per share increased to 17.44 cents from 7.76 cents.

Outlook and guidance

• Sufficient funding to support all committed activities into CY2028.

• Priorities for FY2027 include initiating the pivotal AML program and advancing HARNESS-1 and CPACS trials.

• Multiple clinical, regulatory, and development milestones expected in the coming year.