Kazia Therapeutics - New indications for GDC-0084

Kazia has added two further indications to the development programme for its brain-penetrant PI3K inhibitor GDC-0084 through collaborations with prestigious US-based cancer centres. The collaborations further validate the potential of GDC-0084, which was in-licensed from Genentech in 2016. Importantly, the two additional indications will provide alternative pathways to a potential first marketing approval for GDC-0084, increasing the overall likelihood of success. Kazia's ongoing Phase IIa study of GDC-0084 in glioblastoma (GBM) is expected to report first data in early 2019. Kazia raised A$3.4m through a recent share placement and has a share purchase plan (SPP) underway to raise additional funds. We increase our valuation range to between A$83m and A$139m.

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