• Profit of $502,163 compared to loss of $5,663,158 in prior period
• Successful completion of Phase 1b/2 trial of bisantrene in relapsed/refractory AML
• Submission of ethics and regulatory package for Phase 1 trial of RC220 bisantrene in solid tumors

Race Oncology Limited reported a profit of $502,163 for the half-year ended 31 December 2024, a significant improvement from the $5.7 million loss in the prior period. The company received $5.3 million in R&D tax incentives and earned $363,010 in interest income. Key operational highlights included the successful completion of a Phase 1b/2 investigator-sponsored trial of bisantrene in combination with clofarabine and fludarabine in relapsed/refractory acute myeloid leukemia, with 40% of evaluable patients responding. Race also made progress in advancing the Phase 1a/b clinical trial of its lead asset RC220 bisantrene in solid tumors, completing the necessary paperwork for submission of the human ethics application. The company strengthened its board with the appointment of experienced biotech executive Dr. Megan Baldwin as an independent non-executive director. Race also announced the discovery of 39 unique FTO protein-binding molecules through a collaboration with Monash University, which will aid the development of novel m6A RNA epigenetic pathway drugs.

Race Oncology is focused on advancing its bisantrene clinical programs, including the upcoming Phase 1 trial of RC220 in solid tumors, which is expected to commence patient recruitment in Q1 2025 following regulatory approvals. The company is also continuing its preclinical work to develop novel FTO-targeting drugs.