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Kazia Therapeutics Limited · NASDAQ · Healthcare
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Kazia is raising $50 million through a private placement. Net proceeds will support clinical development of paxalisib for cancer. The funds extend cash runway into late 2028. Analysts project a 1-year price target of $20 for KZIA. KZIA shares increase by 10.49% to $10.11 recently.
View signal analysisKZIA's stock declines 40.3% after regulatory update on paxalisib. FDA suggests overall survival data is not suitable for accelerated approval. Positive secondary endpoint data from GBM-AGILE study supports further testing. Kazia plans pivotal phase 3 study based on FDA discussions. CEO expresses intent to outline a path for shareholder value by January 2025.
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