Kazia Therapeuti Stock Price, News & Analysis

Kazia Therapeutics Limited (NASDAQ: KZIA; ASX: KZA) announced on April 14, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement. This follows a notification received on December 9, 2022, indicating non-compliance due to the company's American Depository Shares (ADSs) closing below US$ 1.00 for 30 consecutive business days. To maintain compliance, the company needed its ADS bid price to stay at or above US$ 1.00 for ten consecutive business days, which was achieved from March 29 to April 12, 2023. Kazia is focused on developing oncology treatments, specifically its lead program, paxalisib, aimed at various brain cancers, with clinical studies ongoing and promising interim data reported.

Kazia Therapeutics Limited (NASDAQ: KZIA) announced significant data on its drug candidates paxalisib and EVT801 at the AACR Annual Meeting in Orlando from April 14-19, 2023. Five presentations will highlight new findings, particularly for paxalisib's effectiveness in melanoma and childhood brain cancer, indicating enhanced overall survival in preclinical models. Additionally, EVT801's novel biomarker strategy is expected to yield initial clinical data in 2023. The presentations reinforce Kazia's ongoing collaboration with Evotec and suggest promising therapeutic paths for both compounds, particularly in combination therapies.

Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA) announced a placement of shares to institutional investors, aiming to raise A$4.5 million at A$0.11 per share, a 13% premium to the 15-day volume-weighted average price. The placement includes an unconditional portion of A$2,792,572 for 25,387,018 new shares, and a conditional A$1,707,428 placement, subject to shareholder approval. An Extraordinary General Meeting is scheduled for February 24, 2023. The funds will advance Kazia's clinical program, specifically towards the paxalisib GBM AGILE study.

Kazia Therapeutics has entered a research collaboration with QIMR Berghofer Medical Research Institute to explore the use of its lead asset, paxalisib, in solid tumors. This initiative builds upon previously conducted preclinical studies, particularly in melanoma, and aims to evaluate paxalisib as a potential immune modulator in combination with existing checkpoint inhibitors like Keytruda and Opdivo. The results are anticipated in H1 CY23, with the possibility of clinical progression depending on the encouraging preclinical data.