Kazia Therapeutics

AU: KZA

AU$23m market cap

AU$0.32 last close

Kazia Therapeutics has two clinical stage anti-cancer drugs: GDC-0084 (targeting glioblastoma) and Cantrixil (targeting ovarian cancer). GDC-0084 was inlicensed from Genentech, and Kazia is seeking other in-licence opportunities.

Investment summary

Kazia Therapeutics develops two anti-cancer compounds, GDC-0084 (paxalisib) and Cantrixil. GDC-0844 is in four Phase IIa studies to test whether it slows glioblastoma progression. The lead GDC-0084 Phase IIa study should report data in Q419. At ESMO, median progression-free survival across all nine patients in the first part of this study was 5.5 months compared to matched historical controls
of 3.4 months. Initial efficacy data from the Cantrixil ovarian cancer Phase I are due in Q419. The FY19 financial results showed 30 June cash of A$5.4m and operational cash use of A$6.7m.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2018A 2.9 (10.9) (11.0) (22.2) N/A N/A
2019A 1.5 (7.6) (7.7) (12.9) N/A N/A
2020E 1.5 (8.7) (8.7) (14.0) N/A N/A
2021E 1.5 (11.1) (11.1) (17.9) N/A N/A
Industry outlook

Kazia’s two drug technology platforms are GDC-0084, a PI3K inhibitor licensed from Genentech, and Cantrixil, an intra-peritoneal formulation of a novel cytotoxic drug. Kazia is recruiting a 20-patient expansion cohort in its current GDC-0084 Phase II. If efficacy is indicated at the new 60mg dose, Q419 data could trigger a Phase IIb randomised study and potential partnering by 2023.

Last updated on 20/06/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (A$m) 8.3
Forecast gearing ratio (%) 184
Key management
Iain Ross Chairman
James Garner CEO

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