RAC – Race Oncology | Aussie Stock Forums

21 December 2021 – Race Oncology Limited (“Race”) is pleased to announce that its Share Purchase Plan (SPP) has closed heavily oversubscribed with $43.9m received in applications from 2,340 shareholders. In line with the terms of the SPP, $29.7m will be accepted, with funds to be applied to Race’s “full case” funding scenario, as set out in Race’s 2021 Annual General Meeting (ASX announcement: 23 November 2021).

Race’s Managing Director and CEO, Mr Phil Lynch commented: “The Race team has been humbled by the extraordinary show of shareholder support for our Share Purchase Plan and we sincerely thank all those who participated. The number of applications reflects enthusiasm for the significant potential of our lead drug Zantrene, and this enables us to implement our planned clinical and drug development plans across the three-pillar program. We move into 2022 in an exceptional position, with many critical, reportable milestones ahead of us.”

Race’s Chief Scientific Officer and Executive Director, Dr Daniel Tillett said, “I would like to personally thank all our shareholders for their generous support of our plans for Zantrene. It is extremely humbling to have so many of our shareholders willing to join and support us on the exciting journey to bring Zantrene back to patients in need. ”

Use of funds
Funds raised under the SPP will be used as follows: Phase 1b/2 FTO solid tumour clin……