Why the Race Oncology (ASX:RAC) share price is rocketing 10% higher

The Race Oncology Ltd (ASX: RAC) share price has been a very strong performer on Thursday.

In morning trade, the precision oncology company’s shares are up 10% to $3.38.

Why is the Race Oncology share price storming higher?

Investors have been buying the company’s shares following the release of a positive announcement this morning.

That announcement revealed details of a recent scientific publication in the prestigious journal Nature Communication.

According to the release, the publication confirms that its phase 2/3 cancer drug Bisantrene is a highly effective inhibitor of the Fat Mass and Obesity associated protein (FTO).

The release notes that the independent work was performed by a research team at the University of…