Bobby Linn put the leaders in front with 11 minutes left before Raith lost Nat Wedderburn to a second booking with just four minutes left. But the ever-reliable Kevin Nisbet came up with the equaliser just a minute later when he fired home from close range.
East Fife kept in touch with a crushing 4-0 win at Forfar. Goals by Kevin Smith, Scott Agnew (2) and Rory Currie did the damage.
Brechin City leapfrogged Airdrieonians with a 3-1 win. Joao Vitoria struck first for Airdrie but Andy Jackson equalised. Sean Burns put Brechin in front early in the second half before Jackson grabbed his second.
Stenhousemuir left it late to see off Montrose 3-2. Alan Cook gave Stenhousemuir the lead but Christian Antoniazzi levelled.
Iain Campbell saw his penalty for Montrose saved by Graeme Smith and Colin McMenamin then put Stenhousemuir back in front. Montrose equalised through Andrew Steeves with a minute left before Mark McGuigan hit an even later winner.
Stranraer also enjoyed a 3-2 home win, at the expense of Dumbarton. Grant Anderson gave them the lead, but Ross Forbes equalised. David Brownlie put Stranraer back in front before Dom Thomas levelled things once more. Paul Crossan settled it.