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Kazia Therapeutics (NASDAQ: KZIA) has been granted an additional 180-day extension by Nasdaq, until November 18, 2024, to comply with the Minimum Bid Price Requirement of $1.00 per share. Initially notified of the deficiency on November 20, 2023, Kazia failed to regain compliance by the original deadline of May 20, 2024. Despite this, Nasdaq extended the compliance period based on the company's adherence to other listing criteria and its intent to resolve the issue. Kazia may employ solutions like a ratio change of its American Depositary Shares (ADSs). Failure to comply could lead to delisting, though appeals are possible. The extension does not affect current operations or trading under the ticker 'KZIA' on The Nasdaq Capital Market.
Kazia Therapeutics reported successful completion of stage 1 of the EVT801 Phase 1 clinical trial in advanced cancer patients. The Safety Review Team confirmed meeting primary and secondary objectives, determining a recommended phase 2 dose at 400mg BID. EVT801 showed promising clinical activity, especially in patients with advanced ovarian cancer. The trial included 26 patients across six dosing cohorts, with EVT801 being well-tolerated. CEO Dr. John Friend emphasized the need for new therapies in high-grade serous ovarian cancer patients.