Full Press Release Details
Kazia Therapeutics Announces Closing of $2 Million Registered Direct Offering
SYDNEY, Australia, December 5, 2023 (PRNewswire) Kazia Therapeutics Limited (NASDAQ: KZIA) ( Kazia or the Company ), an
oncology-focused drug development company, today announced the closing of its previously announced purchase and sale of up to an aggregate of 4,444,445 of the Company s American Depositary Shares ( ADSs ) (or ADS equivalents in lieu
thereof), each ADS representing ten (10) ordinary shares of the Company, at a purchase price of $0.45 per ADS (or ADS equivalent in lieu thereof), in a registered direct offering. The Company also issued in a concurrent private placement
unregistered warrants to purchase up to an aggregate of 4,444,445 ADSs. The warrants have an exercise price of $0.583 per ADS, are immediately exercisable upon issuance, and will expire five and one-half years
from the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering were approximately $2 million, before deducting the placement agent s fees and other offering
expenses payable by the Company. The Company intends to use the net proceeds from this offering as working capital for general corporate purposes.
securities described above (excluding the warrants and ADSs underlying the warrants) were offered and sold by the Company in a registered direct offering pursuant to a shelf registration statement on Form
F-3 (File No. 333-259224) that was originally filed with the Securities and Exchange Commission (the SEC ) on September 1, 2021, and declared
effective on September 8, 2021. The offering of such securities in the registered direct offering was made only by means of a prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the
accompanying base prospectus relating to the registered direct offering were filed with the SEC and are available on the SEC s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus may
also be obtained from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at
The unregistered warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of
1933, as amended (the Act ), and Regulation D promulgated thereunder and, along with the ADSs representing ordinary shares underlying such warrants, have not been registered under the Act, or applicable state securities laws. Accordingly,
the warrants and the underlying ADSs may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other
Kazia Therapeutics Limited (NASDAQ: KZIA) is an oncology-focused drug development company, based in Sydney, Australia.
Our lead program is paxalisib, a brain-penetrant inhibitor of the PI3K / Akt / mTOR pathway, which is being developed to treat multiple forms of brain cancer.
Licensed from Genentech in late 2016, paxalisib is or has been the subject of ten clinical trials in this disease. A completed Phase II study in glioblastoma reported promising signals of clinical activity in 2021, and a pivotal study, GBM AGILE, is
ongoing, with final data expected in CY2023. Other clinical trials are ongoing in brain metastases, DMGs, and primary CNS lymphoma, with several of these having reported encouraging interim data.
Paxalisib was granted Orphan Drug Designation for glioblastoma by the US Food and Drug Administration (US FDA) in February 2018, and Fast Track Designation
for glioblastoma by the US FDA in August 2020. In addition, paxalisib was granted Rare Pediatric Disease Designation and Orphan Designation by the US FDA for DIPG in August 2020, and for atypical teratoid / rhabdoid tumors in June 2022 and July
Kazia is also developing EVT801, a small-molecule inhibitor of VEGFR3, which was licensed from Evotec SE in April 2021. Preclinical
data has shown EVT801 to be active against a broad range of tumor types and has provided evidence of synergy with immuno-oncology agents. A Phase I study in advanced solid tumors commenced recruitment in November 2021.
Forward-Looking Statements
This press release may
contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which can generally be identified as such by the use of words such as may, will,
estimate, future, forward, anticipate, or other similar words. Any statement describing Kazia s future plans, strategies, intentions, expectations, objectives, goals or prospects, and other
statements that are not historical facts, are also forward-looking statements, including, but not limited to, statements regarding: the intended use of proceeds from the offering and the Company s future expectations, plans and prospects. Such
statements are based on Kazia s current expectations and projections about future events and future trends affecting its business and are subject to certain risks and uncertainties that could cause actual results to differ materially from those
anticipated in the forward-looking statements, including risks and uncertainties: related to market and other conditions, associated with clinical and preclinical trials and product development, including the risk that preliminary or interim data
may not reflect final results, related to regulatory approvals, and related to the impact of global economic conditions. These and other risks and uncertainties are described more fully in Kazia s Annual Report, filed on form 20-F with the SEC, and in subsequent filings with the SEC. Kazia undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except
as required under applicable law. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release.
Phone: +61 411 117 774