Kazia TherapeuticsTrust (KZIA): Multiple Paxalisib Data Points Expected in Q4

Rhea-AI Summary

Kazia Therapeutics anticipates releasing critical data from its paxalisib program in Q4 2021, including results from a 30-patient Phase II trial for newly diagnosed glioblastoma multiforme and initial data for treating brain metastases. The company has raised its valuation to US$277 million or US$20.92 per basic ADR, which reflects a forward adjustment in its NPV, despite lower net cash of US$20.4 million as of June 30, 2021. Kazia's financing requirement has increased to US$44 million, driven by heightened R&D expenditure.

Positive

• Anticipation of multiple data releases for paxalisib in Q4 2021.
• Increased valuation to US$277 million, indicating positive market perception.

Negative

• Net cash decreased to US$20.4 million as of June 30, 2021.
• Increased financing requirement to US$44 million due to rising R&D costs.

LONDON, UK / ACCESSWIRE / October 14, 2021 / Kazia expects to release multiple data points from its paxalisib program in Q4 CY21. These include final data from the 30-patient Phase II trial in newly diagnosed glioblastoma multiforme (GBM) patients, as well as initial data for paxalisib in the treatment of brain metastases (BMs). Additionally, the Phase I for EVT801 is expected to begin enrolment by year-end.

We have increased our valuation to US$277m or US$20.92 per basic ADR from US$247m or US$19.14 per basic ADR mainly due to rolling forward our NPV. This was partially offset by lower net cash and slightly higher expenses. Kazia reported net cash of US$20.4m (A$27.6m) at 30 June 2021. Our estimated financing requirement for the company is US$44m (including US$22m in FY23), up from US$36m previously due to increases in R&D spending.

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SOURCE: Edison Investment Research Limited

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FAQ

What is the significance of Kazia Therapeutics' data release scheduled for Q4 2021?

The data release is crucial as it includes final results from a Phase II trial for paxalisib, which targets newly diagnosed glioblastoma multiforme.

What financial valuation has Kazia Therapeutics announced?

Kazia Therapeutics has raised its valuation to US$277 million or US$20.92 per basic ADR.

What is Kazia's current cash position and financing requirement?

Kazia reported net cash of US$20.4 million and an increased financing requirement of US$44 million due to higher R&D expenses.

What are the anticipated data points from Kazia's paxalisib program?

The anticipated data points include final Phase II trial results and initial data on paxalisib's use for brain metastases.