On August 1, 2025 Kazia Therapeutics Limited (NASDAQ: KZIA), an oncology-focused drug development company, reported that it has entered into a securities purchase agreement with certain established institutional investors for a private placement of equity securities (PIPE) (Press release, Kazia Therapeutics, AUG 1, 2025, View Source [SID1234654704]). Pursuant to the securities purchase agreement, the Company agreed to offer and sell to an aggregate of approximately $2.0 million of ordinary shares and prefunded warrants. The securities being sold in the PIPE are priced at a 5% premium to the closing price of Kazia’s ADSs on July 31, 2025. The PIPE is structured as a straightforward equity investment with no common warrant coverage. The transaction is expected to close on Monday, August 4, 2025, subject to customary closing conditions.
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The Company estimates that the net proceeds to the Company from the PIPE will be approximately $2 million, after deducting estimated offering expenses. The Company intends to use the net proceeds from this offering to support the continued clinical development of its lead programs, including paxalisib, a brain-penetrant dual PI3K/mTOR inhibitor currently in clinical trials for both brain cancer and advanced breast cancer, and EVT801, a selective VEGFR3 inhibitor, and for general corporate purposes.
"This transaction provides Kazia with additional capital to advance our clinical-stage assets through key near-term catalysts most notably additional data from our ongoing advanced breast cancer trial," said Dr. John Friend, CEO of Kazia Therapeutics. "We are grateful for the continued support of our investors and look forward to delivering updates on upcoming milestones."
The securities sold in this PIPE are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements. Pursuant to the securities purchase agreement, the Company has agreed to file a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) within 60 days of the closing to register the resale of ADSs representing the ordinary shares and those underlying the pre-funded warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Any offering of the securities described above under the resale registration statement will only be by means of a prospectus.