Race Oncology: Reports $1.8m in cash outflows

Race Oncology Reports $1.8m in cash outflows

• Race Oncology (RAC) reports $1.8 million in cash outflows for the quarter, an increase from the $931,000 in outflows recorded in the previous quarter
• The company spent $890,000 during the period for research and development
• RAC’s focus is Zantrene, a small molecule anti-cancer drug in which the company announced numerous achievements for over the quarter
• At the end of the period, the company had $37.1 million in cash and cash equivalents
• Shares closed 2.81 per cent higher today at $2.93 each