Today, Kazia Therapeutics Limited (NASDAQ: KZIA) is moving higher on the charts in premarket trades. The KZIA stock is up more than 11.69% to trade at $12.42 as of the last check. Kazia Therapeutics stock closed the weekend session at $11.12 down -1.33%.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
During the past three months, the volume of KZIA shares traded was 153.95K, which was higher than the 0.13 million shares traded in the last session. The price of Kazia stock has been rising following news of a commercialization agreement for its lead product in greater China.
The 2021 Backdoor Crypto Portfolio (free)
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Sponsored
Read More
- The Top Cryptocurrency Stocks Flight in the Market for long-term
- Top 3 Cybersecurity Stocks You Should Keep on your Watch List
What does the agreement cover?
Kazia Therapeutics Limited is an Australian-headquartered company that develops cancer treatments. Our leading program is paxalisib, a PI3K/Akt/mTOR inhibitor intended to treat glioblastoma, the most malignant primary brain cancer in adults. The clinical trial for paxalisib, a major advancement in the treatment of glioblastoma, began recruiting patients in January 2021.
Kazia Therapeutics today announced a licensing agreement with Simcere Pharmaceutical Group Ltd involving the development and commercialization of Kazia’s investigational new drug, paxalisib, in Greater China.
- Mainland China, Hong Kong, Macau, and Taiwan are part of Greater China, and Simcere will be responsible for the development, registration, and commercialization of paxalisib in that region.
- As with all other territories, Kazia retains all rights to develop and commercialize paxalisib, including in China.
- Simcere is one of China’s fastest-growing pharmaceutical companies and has cancer, autoimmune disease, and neurological disorders its principal strategic areas of focus.
- Paxalisib is currently the target of six additional clinical trials in other brain cancer types outside glioblastoma.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
What will KZIA achieve?
The deal entails Kazia Therapeutics (KZIA) receiving an upfront payment of US$ 11 million (AU$ 14.2 million), comprising US$ 7 million in cash and US$ 4 million equity capital at a premium of 20% to recent trading. Further milestones in the US$ 281 million (AU$ 362) range will be paid for indications beyond glioblastoma. A mid-teen royalty will be paid to KZIA on commercial sales by Simcere as well. Paxalisib will be developed further using transaction proceeds.
