Race Oncology (ASX:RAC) share price slides on a new melanoma preclinical study

The Race Oncology Ltd (ASX: RAC) share price is sliding today, despite the announcement of a new preclinical study by the specialty pharmaceutical company. At the time of writing, shares are down 0.5% to $3.98.

Race Oncology share price unfazed by Bisantrene study

Race Oncology focuses on the development of cancer-targeting drugs in an effort towards better outcomes. The company’s flagship drug is Bisantrene, a small molecule inhibitor of the fat mass and obesity-associated (FTO) protein. A link between FTO and a range of cancers has led Race to investigate Bisantrene further.

According to the release, Race has now entered…