Kazia Therapeutics Announces Closing of $2.0 Million Registered Direct Offering

Core Viewpoint - Kazia Therapeutics Limited has successfully closed a registered direct offering and concurrent private placement, raising approximately $2.0 million to support its oncology-focused drug development efforts [1][3]. Group 1: Offering Details - The company issued 1,333,333 American Depositary Shares (ADSs) at a purchase price of $1.50 per ADS, with each ADS representing 100 ordinary shares [1]. - The offering included unregistered warrants to purchase an additional 1,333,333 ADSs, with an exercise price of $1.50 per ADS, immediately exercisable and expiring in five and a half years [1]. - Maxim Group LLC acted as the exclusive placement agent for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes, including working capital, research, clinical development, and administrative expenses [3]. Group 3: Company Overview - Kazia Therapeutics is an oncology-focused drug development company based in Sydney, Australia, with its lead program, paxalisib, targeting multiple forms of brain cancer [7]. - Paxalisib has undergone ten clinical trials and has received various designations from the FDA, including Orphan Drug Designation and Fast Track Designation for glioblastoma and other conditions [7]. - The company is also developing EVT801, a small-molecule inhibitor of VEGFR3, which has shown promise in preclinical studies [7][8].