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Kazia TherapeuticsTrust (KZIA): Several Upcoming Catalysts

LONDON, UK / ACCESSWIRE / March 30, 2022 / Patient recruitment in the pivotal GBM AGILE study for lead asset paxalisib remains on track, with data expected in CY23, to be followed by a potential regulatory filing, if data are positive. Recent C-suite appointments in the United States suggest an increased focus on commercialization, particularly in the US market. Second asset EVT801 has progressed to human studies, with the first patient enrolled in a Phase I trial in France in November 2021 and interim data expected in H2 CY22. We expect CY22 to be catalyst rich, with data anticipated from multiple investigator-sponsored studies evaluating paxalisib in the treatment of brain metastases (BMs), as well as pediatric brain cancers such as diffuse intrinsic pontine glioma (DIPG). Positive readouts from any study alone could potentially trigger a re-rating for the stock. We have increased our valuation to US$294m or US$22.28 per basic ADR mainly due to rolling forward our NPV, partially offset by lower cash and higher R&D estimates.

Our valuation increases to US$294m or US$22.28 per basic ADR from US$277m or US$20.92 per basic ADR mainly due to rolling forward our NPV. This was partially offset by lower net cash and higher R&D expectations. Kazia reported net cash of US$11.0m (A$15.2m) at 31 December 2021, which extends the runway into H123 (H2 CY22). Our estimates for financing requirements rise to US$51m from US$44m (including US$22m in FY23 and FY24, each).

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