Shares in Racura Oncology Ltd (ASX: RAC) have jumped more than 10% in early trade after the company announced the successful first dosing of a patient in Hong Kong with its RC220 cancer compound.
The company said in a statement to the ASX that the patient was the third to be dosed with the compound, but the first at the Hong Kong Site.
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Good early signs
Racura said no vein inflammation or other adverse events were reported following the dosing, and to date, no dose-limiting toxicities have been observed in any of the three patients dosed.
The company added:
Dosing of the third patient also completes recruitment of the first trial cohort. In accordance with the trial protocol, the Safety Review Committee (SRC) will review all accumulated safety data collected from the three patients. Subject to SRC review and clearance, the trial will then progress to the next planned RC220 dose level of 80 mg/m2 using the updated trial protocol announced 11 February 2026.
Racura Chief Executive Officer Dr Daniel Tillett said on Thursday:
The safe dosing of the third patient in our RC220 solid tumour trial in Hong Kong and recruitment of the first dose escalation cohort is an important milestone for Racura Oncology. We are grateful to all the patients, investigators, and clinical teams who have made this trial possible and we look forward to treating patients on the updated protocol.
Stage 1 of the RC220 trial will be carried out across Australia, Hong Kong, and South Korea, and involves ascending doses "to determine the safety, tolerability, pharmacokinetics, and maximum tolerated combined dose of RC220 in combination with doxorubicin in up to 33 patients''.
After interim analysis of the data, another 20 patients will be administered the compound to test for further safety, tolerability, and preliminary cardioprotective and anticancer efficacy signals, Racura said.
Multiple uses being examined
Racura said in its statement to the ASX that RC220 was being tested to address the high unmet needs of patients across multiple cancer indications with a Phase 3 clinical program in acute myeloid leukemia, a Phase 1a/b program in lung cancer, and the trial mentioned previously, which aims to deliver both cardioprotection and enhanced anticancer activity for solid tumour patients.
The ASX biotech's shares traded as high as $2.73 on the news, up 14.7%, before settling back to be 8.8% higher at $2.57.
Racura was valued at $433 million at the close of trade on Wednesday.
