This ASX All Ords biotech share is on a 16% tear today

What's getting investors excited about this biotech?

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The Race Oncology Ltd (ASX: RAC) share price is catching the eye on Tuesday.

In morning trade, the ASX All Ords biotech share is up 16% to $1.05.

Why is this ASX All Ords biotech share on a tear?

Investors have been buying the oncology-focused biotechnology company's shares today following the release of a positive announcement.

This relates to interim clinical results from an ongoing investigator-initiated Phase 2 trial of bisantrene in combination with fludarabine and clofarabine (Bis/Clo/Flu) in relapsed or refractory Acute Myeloid Leukaemia (R/R AML) patients.

According to the release, 6 of the 15 evaluable patients (40%) responded to Bis/Clo/Flu treatment (five complete responses, one partial response), with three of the clinical responders having active extramedullary disease (EMD).

Furthermore, the ASX All Ords biotech share revealed that five of the six treatment-responsive patients were able to be bridged to a stem cell transplant (SCT) within one to three months of treatment.

Of the five stem cell transplanted patients, three have since sadly died; one from graft-versus-host disease, one who relapsed within four months of transplant, and one of infection after two years. However, the two other patients remain disease-free and in complete remission.

The Director of Haematology at the Calvary Mater Newcastle and John Hunter Hospitals, Professor Dr Anoop Enjeti, commented:

This clinical trial of bisantrene in combination with intensive chemotherapy produced very encouraging results in younger AML patients with advanced relapsed, refractory and resistant acute myeloid leukaemia (AML). Many of these patients achieved a complete or a partial remission, enabling a significant proportion to go on to a bone marrow transplant. These impressive results provide proof of concept supporting further trials of bisantrene in combination with other AML treatments to improve outcomes for this leukaemia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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