leadf
logo-loader
viewKazia Therapeutics Ltd
(
ASX:KZANASDAQ:KZIA
)

Kazia Therapeutics directors demonstrate confidence in bio-tech strategy with on-market purchases

During the March quarter, the oncology-focused drug development company saw maiden revenue of A$5.3 million and its cash position increased to A$19.7 million end-March.

Kazia Therapeutics Ltd -
New transactions leave Kazia a stronger and more substantial business, with a diversified pipeline of world-class oncology assets

Kazia Therapeutics Ltd (ASX:KZA) (NASDAQ:KZIA) (FRA:NV9M) directors have demonstrated confidence in the company’s bio-tech strategy with on-market share purchases.

Non-executive director Steven Coffey acquired 8,000 shares in an indirect interest on June 1 and 2, increasing his holding to 426,250 shares with another 8,015 held in a direct interest.

On May 31 executive director and CEO Dr James Garner purchased 10,000 shares in a direct interest, increasing the number of securities held to 430,000.

Non-executive director Bryce Carmine acquired 20,000 shares on May 31 in a direct interest, increasing his holding to 372,692 shares.

This follows multiple purchases made by KZA directors on May 3.

March quarter highlights

The company kicked off 2021 with a trifecta of March quarter licensing deals, leaving it "a vastly stronger and more substantial business", according to CEO Dr James Garner.

During the quarter, the oncology-focused drug development company saw maiden revenue of A$5.3 million and its cash position increased to A$19.7 million by the end of March. 

Reflecting on its strong progress, shares in the company have risen from A$0.77 cents at the market close on November 4 to A$1.88 on April 8, a new high of almost six years, while the market cap is now approximately A$180.8 million.

Quick facts: Kazia Therapeutics Ltd

Follow
ASX:KZA

Price: 1.6 AUD

Market Cap: $211.22 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Kazia Therapeutics with Proactive at the ASX Small and Mid Cap Conference

Kazia Therapeutics Ltd (ASX:KZA, NASDAQ:KZIA)'s Dr James Garner speaks with Proactive at the ASX Small and Mid Cap Conference. Its lead program is paxalisib, a brain-penetrant inhibitor of the PI3K / Akt / mTOR pathway, which is being developed to treat glioblastoma, the most common and most...

1 week, 6 days ago

2 min read