The Race Oncology Ltd (ASX: RAC) share price is climbing today after an update from the Aussie healthcare company.
Why is the Race Oncology share price climbing?
Race Oncology announced that it has entered into a collaborative preclinical research program with The University of Newcastle. The purpose of the program is to investigate the heart safety Bisantrene offers over current anthracycline therapeutics.
Bisantrene is Race Oncology’s Phase 2/3 cancer drug that is a “potent inhibitor” of the Fatso/Fat mass and obesity-associated (FTO) protein. The possible role of FTO inhibition in Bisantrene’s lack of cardiotoxicity will be a primary focus of the new project.
The Race Oncology share price has jumped 1.6% higher at the market open following the news. While Bisantrene’s heart safety has been demonstrated in over 40 clinical trials, how it avoids causing cardiotoxicity is unknown.
The aim of the project is to explore Bisantrene’s low cardiotoxicity at a molecular level. The project will be led by cardiotoxicity researchers Aaron Sverdlov and Doan Ngo of The University of Newcastle.
Pillar 2 of Race’s Three Pillar strategy announced on 30 November 2020 is focused on Bisantrene’s ability to act as an anthracycline replacement. Race said anthracyclines are chemotherapeutics that are effective but cardiotoxic.
That’s where the latest study comes in and why the Race Oncology share price is climbing. The results of this study will support Phase 2b human trials of a Bisantrene in anthracycline naïve breast cancer patients. European feasibility studies are evaluating the trials with potential initiation in 2022.
Chief Scientific Officer Dr Daniel Tillett said, “Understanding how Bisantrene works at a molecular level to avoid damage to the heart will aid our clinical plans”.
The Race Oncology share price has jumped higher at the market open following the news as investors buy up the Aussie healthcare share.
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More reading
- Why Ampol, Netwealth, Orocobre, & Race Oncology shares are storming higher
- Why the Race Oncology (ASX:RAC) share price is rocketing 10% higher
- Why Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower
- Race (ASX:RAC) share price falters despite positive update
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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