Wed, 01 Dec 2021

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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