Kazia Therapeutics Limited American Depositary Shares - KZIA STOCK NEWS

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.

Kazia Therapeutics Limited (NASDAQ: KZIA) has announced a collaboration with QIMR Berghofer Medical Research Institute to explore novel applications of paxalisib in treating solid tumors. Led by Professor Sudha Rao, the research focuses on paxalisib's potential as an immune modulator in cancer therapy. Initial findings included a successful patent filing for its use against diseases like breast cancer. Significant opportunities arise for paxalisib in combination with established immunotherapies if clinical trials yield positive results, with anticipated publications in 1H CY2023.

Kazia Therapeutics Limited (NASDAQ: KZIA) received a deficiency notification from Nasdaq on December 9, 2022, for not meeting the minimum bid price requirement of US$ 1.00 per share, as per Nasdaq Listing Rule 5550(a)(2). The deficiency, effective from December 8, 2022, does not impact the company's operations immediately, and its shares will continue trading on Nasdaq-CM. Kazia has until June 7, 2023, to regain compliance by maintaining the required share price for 10 consecutive business days. The notice does not affect its listing on the ASX under KZA.

Kazia Therapeutics Limited (NASDAQ: KZIA) announced the publication of positive preclinical data for EVT801, a clinical-stage cancer drug candidate. The research, led by scientists at Evotec SE and the University Cancer Institute of Toulouse, demonstrates EVT801's potency as a selective inhibitor of VEGFR3, outperforming standard treatments in animal models. The compound shows promise in combination with immune checkpoint inhibitors. Currently, EVT801 is in a phase I clinical trial for advanced solid tumors, with initial data expected in 1H 2023.

Kazia Therapeutics Limited (NASDAQ: KZIA) announced the presentation of final data from its phase II study of paxalisib for newly diagnosed glioblastoma at the Society for Neuro-Oncology annual meeting in Tampa, FL, from Nov. 17-20, 2022. Professor Patrick Wen will present the findings, with a session focused on clinical trials. Additionally, Professor Matt Dun will share research on paxalisib's impact on diffuse midline gliomas. This meeting follows earlier presentations at ASCO and ESMO in 2022, highlighting the ongoing significance of paxalisib in brain cancer treatment.

Kazia Therapeutics reported its Q123 cash flow, revealing a period dominated by challenges faced by paxalisib in the GBM AGILE study. Despite this setback, there was clinical progress in pediatric brain cancers and brain metastases. The company ended the quarter with a cash balance of AU$5.3m (c US$3.4m) and expects this to last until the end of CY22. R&D expenses totaled AU$4.3m, and with the completion of enrollment for the GBM study, future expenditures are projected to decrease significantly.