Kazia Therapeutics Limited (NASDAQ:KZIA) announced a private placement of approximately $50 million in shares and prefunded warrants, at a purchase price per share equivalent to $5 per ADS. Each ADS represents 500 ordinary shares.
The PIPE is structured as a straightforward equity investment with no standard warrant coverage.
Also Read: Kazia Reports Over 50% Cancer Cell Reduction In Early Data From Breast Cancer Trial, Stock Jumps
The net proceeds are expected to be approximately $46.5 million, and the company will use them to support the continued clinical development of its lead program, paxalisib, currently in clinical trials for both brain cancer and advanced breast cancer, advancing the PD-L1 degrader program, and for general corporate purposes.
The company expects the net proceeds from the PIPE, combined with the existing cash and cash equivalents, will extend its cash runway into the second half of 2028.
In November, Kazia Therapeutics announced an initial immune-complete response (iCR) in a patient with stage IV triple-negative breast cancer treated under an FDA-authorized single-patient expanded access protocol combining paxalisib with pembrolizumab (Keytruda) and standard chemotherapy.
After about 3 months of treatment, a PET/CT scan showed that all previously identified lesions had completely resolved metabolically in the same patient.
KZIA Stock Prediction For 2025
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on a company’s fundamentals and expected future earnings to arrive at a price target and a recommendation for the stock.
Shares of Kazia Therapeutics have an average 1-year price target of $20.0, representing an expected upside of 104.12%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations for Kazia Therapeutics, while one analyst has a bullish rating.
Price Action: KZIA stock is up 10.49% at $10.11 at the last check on Tuesday.
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