Sydney, 24 December 2019 – Kazia Therapeutics Limited (ASX: KZA; NASDAQ: KZIA), an Australian oncology-focused biotechnology company, is pleased to confirm receipt of $1,390,849 from the Australian Taxation Office under the R&D Tax Incentive Program for the financial year ending 30 June 2019.
Kazia CEO, Dr James Garner said “the R&D tax rebate is entirely consistent with our forecasts. Both GDC-0084 and Cantrixil have had important and value-driving data read-outs during calendar 2019, and the R&D tax rebate will be directly applied to generating further progress in these programs. We anticipate further data read-outs in calendar 2020, along with the transition of GDC-0084 into a pivotal study for FDA registration.”
About Kazia Therapeutics Limited
Kazia Therapeutics Limited (ASX: KZA, NASDAQ: KZIA) 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, the most common and most aggressive form of primary brain cancer in adults. Licensed from Genentech in late 2016, GDC-0084 entered a phase II clinical trial in 2018. Interim data was reported in November 2019, and further data
is expected in 1H 2020. 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. Interim data was presented at the ESMO Congress in September 2019, and the study remains ongoing. Cantrixil was granted
orphan designation for ovarian cancer by the US FDA in April 2015.