Edison issues ADR outlook on Kazia Therapeutics (KZIA)
Back to Newsroom
Mentioned in this Article

Edison issues ADR outlook on Kazia Therapeutics (KZIA)

Monday, December 2, 2019 8:45 AM
Share this article now
Company Update

LONDON, UK / ACCESSWIRE / December 2, 2019 / Kazia Therapeutics (NASDAQ:KZIA) has presented very encouraging initial efficacy data from the dose-ranging stage of its current Phase II trial. The data are sufficient to give Kazia confidence that it can run a large, and potentially pivotal, study starting by mid-CY20. Promising Cantrixil interim data were released in September. FY19 results showed cash of $4.1m now boosted by a $2.9m net placing. Our indicative value remains at c $104m or about US$13/ADR post placing.

Kazia is aiming for a 2024 GDC-0084 US launch. Kazia had c $4m cash at 30 June 2019 and raised $4m gross (c $3m net) in October from issuing 10m shares at A$0.40 each. We estimate ~$11-15m will be needed to fully fund the GDC-0084 potentially pivotal study now expected to start in 2020. A deal after good overall Phase IIa data might be possible. Progression of Cantrixil is assumed to require a partner. We maintain our value of c $104m adjusted to c $13/ADR to account for the 7.2m ADRs.

Click here to view the full report.

Subscribe to Edison's content to receive reports by email.

All reports published by Edison are free-to-access and available on the website.

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Dr John Savin MBA, +44 (0)20 3077 5735

[email protected]

Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-group-

Twitter www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv

SOURCE: Edison Investment Research Limited

Edison Investment Research Limited
Back to Newsroom
Copyright 2021 © ACCESSWIRE. All rights reserved. Privacy Policy  |  Terms and Conditions
Drop us a line: