Kazia Therapeutics receives $2.2M R&D cash rebate

Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA), an Australian oncology-focused biotechnology company, is pleased to confirm receipt of $2,191,257.95 from the Australian Taxation Office under the R&D Tax Incentive Program for the financial year ending 30 June 2018.

Kazia CEO, Dr James Garner said “the R&D tax rebate is an important, non-dilutive source of funding for the Company. The amount is consistent with the expectations laid out in our financial reports, and the funds will be invested in progressing our two clinical programs. This is an important year for Kazia, with multiple data read-outs anticipated in the near future.

About Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA)

Kazia Therapeutics Limited is an innovative oncology-focused biotechnology company, based in Sydney, Australia. Our pipeline includes two clinical-stage drug development candidates, and we are working to develop therapies across a range of oncology indications.

Our lead program is GDC-0084, a small molecule inhibitor of the PI3K / AKT / mTOR pathway, which is being developed to treat glioblastoma multiforme, the most common and most aggressive form of primary brain cancer in adults. Licensed from Genentech in late 2016, GDC0084 entered a phase II clinical trial in March 2018. Initial data is expected in early calendar 2019. GDC-0084 was granted orphan designation for glioblastoma by the US FDA in February 2018.

TRX-E-002-1 (Cantrixil), is a third-generation benzopyran molecule with activity against cancer stem cells, and is being developed to treat ovarian cancer. TRX-E-002-1 is currently undergoing a phase I clinical trial in Australia and the United States. Initial data was presented in June 2018 and the study remains ongoing. Cantrixil was granted orphan designation for ovarian cancer by the US FDA in April 2015.

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