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Currency in USD
Last close As at 09/06/2023
USD1.32
▲ 0.04 (3.13%)
Market capitalisation
USD22m
Research: Healthcare
Kazia Therapeutics has announced a research collaboration with QIMR Berghofer Medical Research Institute (an Australia-based cancer research center) to investigate the utility of its lead asset, paxalisib (PI3K/mTOR inhibitor) in solid tumors. The collaboration plans to build on previously conducted research, including the potential use of paxalisib as an immune modulator in solid tumors. We note that the company recently announced encouraging data in a preclinical melanoma study, highlighting Kazia’s growing focus on exploring indications other than brain cancer and brain metastases, following the recent setback in the GBM AGILE study where paxalisib was unsuccessful in graduation to stage 2 of the Phase III trial.
Kazia Therapeutics |
Collaboration may expand utility to combo therapies |
Research update |
Pharma and biotech |
19 December 2022 |
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Kazia Therapeutics is a research client of Edison Investment Research Limited |
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Kazia Therapeutics has announced a research collaboration with QIMR Berghofer Medical Research Institute (an Australia-based cancer research center) to investigate the utility of its lead asset, paxalisib (PI3K/mTOR inhibitor) in solid tumors. The collaboration plans to build on previously conducted research, including the potential use of paxalisib as an immune modulator in solid tumors. We note that the company recently announced encouraging data in a preclinical melanoma study, highlighting Kazia’s growing focus on exploring indications other than brain cancer and brain metastases, following the recent setback in the GBM AGILE study where paxalisib was unsuccessful in graduation to stage 2 of the Phase III trial.
Year end |
Revenue |
PBT* |
EPADR |
DPADR |
P/E |
Gross yield |
06/21 |
10.5 |
(3.1) |
(0.25) |
0.0 |
N/A |
N/A |
06/22 |
0.0 |
(14.6) |
(1.08) |
0.0 |
N/A |
N/A |
06/23e |
0.0 |
(18.6) |
(1.12) |
0.0 |
N/A |
N/A |
06/24e |
10.6 |
(16.8) |
(1.01) |
0.0 |
N/A |
N/A |
Source: *Converted at 1.45/US$. Dividend yield excludes withholding tax. Investors should consult their tax advisor regarding the application of any domestic and foreign tax laws.
Paxalisib is an inhibitor of phosphoinositide-3-kinase (PI3K), which, unlike typical drugs in the class, can cross the blood-brain barrier. Paxalisib is Kazia’s most clinically advanced asset. An ongoing Phase III study in glioblastoma, GBM AGILE, did not graduate to an expansion stage, but the first stage of approximately 150 patients remains ongoing, with final data expected in H2 CY23. Paxalisib is also being evaluated in seven other ongoing investigator-sponsored clinical trials, both in primary brain cancers (diffuse intrinsic pontine glioma, DIPG, and primary central nervous system lymphoma) and secondary cancers that have metastasized to the brain.
The preclinical collaboration with QIMR Berghofer is led by Professor Sudha Rao and is focused on assessing the effectiveness of PI3K inhibition as a potential immune modulator of the tumor microenvironment. If confirmed, it could pave the way for usage of paxalisib as a combination treatment with checkpoint inhibitors such as Keytruda (pembrolizumab, Merck) and Opdivo (nivolumab, Bristol Myers Squibb) in solid tumors such a breast and lung cancers. Results from the research are expected to be published in H1 CY23 with the possibility of progressing to the clinic in CY23, provided the preclinical data is encouraging. Initial in-vitro findings are encouraging, with paxalisib demonstrating inhibition of both the primary tumor and metastasis by boosting the immune response within the tumor microenvironment. We see this collaboration as a step towards exploring the applicability of paxalisib in other (ie non-central nervous system) cancer indications, a departure from the company’s traditional focus on brain cancers (both primary and secondary).
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Research: Healthcare
Immix Biopharma has announced the in-licensing of NXC-201, a novel chimeric antigen receptor T-cell (CAR-T) therapy, which has shown high response rates in multiple myeloma and AL amyloidosis. The newly formed company, Nexcella, a subsidiary of Immix, will progress NXC-201 through a Phase Ib/II trial in multiple myeloma (MM), which contains a subset with AL amyloidosis (ALA). MM and ALA are diseases with serious unmet medical needs, hence this deal, in our view, could present opportunities for Immix. The company believes NXC-201 has the potential to be the first and only out-patient CAR-T therapy. The drug trial had been sponsored by Hadassah Medical Organization; however, Immix will now assume sponsorship of the study. We await communication from management on the full terms of the deal. As such, our valuation and financial estimates for Immix are under review.
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