Shares in Race Oncology Ltd (ASX: RAC) are soaring and trading 5% in the green at $2.77 apiece. At one point investors had bid up the share price to $2.99 before it levelled off.
The company's lead drug compound, Zantrene, is back in the headlines again today. The company has revealed "compelling results" in the final readouts from its clear cell carcinoma preclinical program.
Image source: Getty Images
What did Race Oncology announce today?
The biotech company advised that the latest research on Zantrene shows that, on its own and in combination with known kidney cancer drugs, it can kill kidney cancer cells at clinically-relevant concentrations.
"These results support advancing Zantrene into the clinic as a possible new treatment option for advanced kidney cancer patients", the company said.
Specifically, the company talks about the drug label's efficacy in clear cell renal cell carcinoma. Clear cell renal cell carcinoma (ccRCC) is the most common type of kidney cancer. It comprises more than 70% of renal tumours.
Whilst ccRCC is still relatively rare, only accounting for approximately 2% of global cancer prevalence and mortality, "it has more than doubled in incidence over the past half-century, and today is the ninth most common cancer in the developed world", Race Oncology notes.
Treatment prognosis is generally poor compared to many other conditions, so Race's development comes as a welcome update.
Race Oncology said that findings from the study clearly demonstrate that Zantrene kills ccRCC cells. Not only that, but it also slows the growth of these cells — a testament to its mechanism of action.
Zantrene is even more effective at killing cells when used in combination with other kidney cancer drugs. The strongest combinations were with lenvatinib, cabozantinib and pazopanib.
Race Oncology will now conduct further preclinical studies in order to fully understand the mechanisms involved.
Management commentary
Speaking on the findings, Race Oncology Chief Scientific Officer, Dr Daniel Tillett said:
The results from Prof Verrills laboratory are highly encouraging and supportive of our clinical plans for Zantrene in kidney cancer. Advanced kidney cancer has a large unmet need for improved treatment options and Zantrene
in combination with existing treatments may offer new hope for patients with this devastating disease.
Race Oncology's Chief Executive Officer, Phillip Lynch added:
We are again pleased to note Zantrene's effectiveness both in isolation and in combination with other known kidney cancer treatments. This result encourages clinical translation, and we look forward to determining an optimal approach for progressing clinical study.
Race Oncology share price summary
In the past 12 months, the Race Oncology share price has fallen 29%. In 2022 alone, it is down 23%.
