Race Oncology: Reports $1.8m in cash outflows

January 26, 2022

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Race Oncology: Reports $1.8m in cash outflows

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Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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