Kazia Therapeutics raises $2 million in private placement at premium

Kazia Therapeutics Limited (NASDAQ: KZIA) entered into a securities purchase agreement with institutional investors for a $2 million private placement of equity securities. The oncology-focused drug development company priced the securities at a 5% premium to the closing price of its American Depositary Shares on July 31, 2025.

The private investment in public equity (PIPE) transaction involves the sale of ordinary shares and prefunded warrants without common warrant coverage. The transaction is expected to close on August 4, 2025, subject to customary closing conditions.

The company estimates net proceeds of approximately $2 million after deducting estimated offering expenses. Kazia plans to use the funds to support clinical development of its programs, including paxalisib, a brain-penetrant dual PI3K/mTOR inhibitor in clinical trials for brain cancer and advanced breast cancer, and EVT801, a selective VEGFR3 inhibitor, along with general corporate purposes.

"This transaction provides Kazia with additional capital to advance our clinical-stage assets through key near-term catalysts most notably additional data from our ongoing advanced breast cancer trial," said Dr. John Friend, CEO of Kazia Therapeutics.

The securities are being sold in a transaction not involving a public offering and have not been registered under the Securities Act of 1933. The company agreed to file a shelf registration statement with the U.S. Securities and Exchange Commission within 60 days of closing to register the resale of ADSs representing the ordinary shares and those underlying the pre-funded warrants.

Kazia Therapeutics, based in Sydney, Australia, focuses on developing treatments for brain cancer and other oncology applications through its lead programs paxalisib and EVT801.

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