Kazia Therapeutics Ltd
Kazia Therapeutics Ltd (ASX:KZA) is listed on the Australian Securities Exchange.
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Kazia Therapeutics raises $4 million to progress R&D programs
Kazia Therapeutics Ltd (ASX:KZA) has completed an oversubscribed placement of 10 million new fully paid ordinary shares to institutional, professional and sophisticated investors in Australia and Asia raising $4 million.
The issue price of 40 cents per new share represents a 14% discount to the last closing price on October 23 of 46.5 cents.
This institutional placement, which will help Kazia further progress the GDC-0084 and Cantrixil programs through high-value data readouts during 2020, was led by Bell Potter Securities Limited.
"Encouraged by strong interest"
Chairman Iain Ross said: "We have been encouraged by strong interest in the company from professional and institutional investors.
"The Board has considered it appropriate to take the opportunity to strengthen the company's balance sheet.
"It is testament to the company's growing credibility and prospects that this round has been performed at a premium to our last round, and without the need for warrants, convertible notes, or similar arrangements, and was oversubscribed.
"The proceeds of the placement will allow us to complete the ongoing phase I clinical study of Cantrixil and the ongoing phase II study of GDC-0084, as well as to make very significant progress in the four collaborative studies of GDC-0084."
Other Kazia Therapeutics Ltd news
- Kazia Therapeutics to collaborate with Dana-Farber Cancer Institute in paxalisib clinical trial for primary CNS lymphoma
2020-09-22 - Kazia Therapeutics bringing a vetted drug class to the brain: Edison
2020-09-09 - Kazia Therapeutics awarded US FDA Orphan Drug Designation to paxalisib treatment for malignant glioma
2020-08-24 - Kazia Therapeutics raises $1.8 million in well supported share placement
2020-05-06 - Kazia Therapeutics extends SPP owing to strong demand
2020-05-04
