Companies / RAC

RACURA ONCOLOGY LTD

ASX:RACPharmaceuticals, Biotechnology & Life Sciences
196.1M shares on issueASX (delayed) · snapshot 11 Sept 2026207.9M fully diluted+6.0% if every option and right converts$2.02price · delayed$396.1Mmarket cap · indicative

Today’s holders own 94.3% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 15% in 24 months; 2 cash raises in 24 months; options/rights overhang 6% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway10.4 quarters of funding
Share-count growth (24m)15.1%
Raise cadence (24m)2 cash raises
Options & rights overhang6.0% of shares
In-the-money supply2.4% of shares
Pending proposed issuesnone

RACURA ONCOLOGY LTD's ordinary share count grew 15.1% between September 2024 and June 2026, reaching 196M shares. The company raised capital twice in the past 24 months for total disclosed proceeds of A$4.2M, including a A$1000K placement in June 2026. Options and rights on issue could convert into 12M new shares, representing 6.0% of the current share count, of which 2% are in the money; the nearest expiry is December 2026. At the June 2026 quarter, the company reported A$31.8M in available cash, covering approximately 10.4 quarters of funding. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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6.0%
Options & rights overhang
2.4%
In-the-money supply
2
Raises · last 12 months
10.4 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 196.1M per ASX (delayed) (snapshot 11 Sept 2026).
175M180M185M190M195MDec 24Oct 25Sept 26Cash raise · 3 June 2026Cash raise · 8 Dec 2025196.1M

Cash runway

10.4 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Jan 2029 at the reported spend rate.
$31.8M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $34.3M cash at quarter end (item 4.6), 11.3 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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15 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
1 Sept 20263G · unquotedRAC : ORDINARY FULLY PAID196.1MAppendix 3G
12 July 20263H · cancellationRAC : ORDINARY FULLY PAID196.1MAppendix 3H
1 July 20263H · cancellationRAC : ORDINARY FULLY PAID196.1MAppendix 3H
16 June 20262A · quoted issueRAC : ORDINARY FULLY PAID196.1MAppendix 2A
11 June 20262A · quoted issueRAC : ORDINARY FULLY PAID195.6MAppendix 2A
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137 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

2 cash raises in the last 24 months · 2 in the last 12 months

every 5.8 monthsaverage gap between raises
3.3 monthssince the most recent
8 Dec 2025 – 3 June 2026first to most recent in this window
$1000k
Placement
3 June 2026
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4 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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15 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 94% of the 15% placement capacity left — about 6% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

6.0%
Options & rights overhang · of current shares
2.4%
In-the-money supply · at current price
11.8M
Potential new shares
Dec 2026
Nearest expiry
What a price move would switch on
5.9M11.8M$2.02 now0.25× today ($0.51) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($1.01) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($1.52) — 2.3M of the priced supply in the money, 1.2% of shares on issue1× today ($2.02) — 4.7M of the priced supply in the money, 2.4% of shares on issue1.25× today ($2.52) — 6.6M of the priced supply in the money, 3.4% of shares on issue1.5× today ($3.03) — 6.8M of the priced supply in the money, 3.4% of shares on issue2× today ($4.04) — 8.5M of the priced supply in the money, 4.3% of shares on issue3× today ($6.06) — 11.8M of the priced supply in the money, 6.0% of shares on issue5× today ($10.10) — 11.8M of the priced supply in the money, 6.0% of shares on issue10× today ($20.20) — 11.8M of the priced supply in the money, 6.0% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $2.02 today, 4.7M securities are in the money (2.4% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 6.6M (3.4% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
CodeSecurityTypeExercise priceExpiryOn issueSource
RACANOptionsPrice-triggered$4.773 Dec 2026112kFiling
RACAOOptionsPrice-triggered$2.4622 June 2027132kFiling
RACAPOptionsPrice-triggered$3.1715 Aug 2027111kFiling
RACAVOptionsPrice-triggered$2.9231 Jan 2028166kFiling
RACAABOptionsPrice-triggered$2.1130 June 20281.3MFiling
RACAWOptionsPrice-triggered$1.3224 Oct 2028308kFiling
RACATOptionsPrice-triggered$2.231 Nov 2028489kFiling
RACAACOptionsPrice-triggered$2.0525 Nov 202858kFiling
RACAXOptionsPrice-triggered$1.4529 Nov 20281.5MFiling
RACAYOptionsPrice-triggered$4.2529 Nov 20283.1MFiling
RACAZOptionsPrice-triggered$1.391 Dec 2028440kFiling
RACAAEOptionsPrice-triggered$1.6730 June 2029706kFiling
RACAADOptionsPrice-triggered$1.6730 June 20291.7MFiling
RACAAFOptionsPrice-triggered$4.6924 Nov 2029153kFiling
—OptionsPrice-triggered$3.0530 June 20301.6MFiling

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

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15 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
5 June 2026Dr Sergio ScrofaniBuy on-market11k——$30k3Y notice
28 May 2026Daniel TillettBuy400k——$500k3Y notice
26 May 2026Daniel TillettBuy400k——$500k3Y notice
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18 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

7 Sept 2026RC220 MYC-silencing data to be presented FCS 26 conference
3 Sept 2026Racura Oncology Adelaide Investor Briefing
1 Sept 2026Notification regarding unquoted securities - RAC
31 Aug 2026$PCPACS Trial Opens for RC220 Patient Enrolment in Korea
25 Aug 2026Corporate Governance Statement
25 Aug 2026Appendix 4G
25 Aug 2026$PAppendix 4E & Annual Report
28 July 2026Racure Oncology Techknow Invest Presentation
28 July 2026$PFirst HARNESS-1 Patient Safely Treated with RC220
27 July 2026$PJune 2026 Quarterly Activities Report and Appendix 4C
12 July 2026Notification of cessation of securities - RAC
9 July 2026Racura to Present CPACS Data at GCOS 2026
6 July 2026Racura Oncology New Zealand Investor Events
2 July 2026$PBellberry Ethics Approval Activates New HARNESS Trial Sites
1 July 2026Notification of cessation of securities - RAC
24 June 2026$PRacura Treats First Patient in HARNESS-1 Lung Cancer Trial
16 June 2026Racura Oncology Investor Briefings Perth & Auckland
16 June 2026$PRacura raised $34.3m to Advance Three Oncology Trials
16 June 2026Cleansing Notice
16 June 2026Application for quotation of securities - RAC

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.