At June 30 Kazia had more than A$5.6 million in net current assets available for funding programs into the 2020 financial year.
In the company’s recent annual report Kazia chairman Iain Ross said the company had achieved all developmental, operational and clinical milestones set for itself.
“The drug has attracted considerable attention”
He said: “GDC-0084, our treatment for glioblastoma and DIPG is now in five clinical trials covering three entirely distinct patient populations at nine world-renowned international centres of excellence, many of which have requested to be involved in.
“In some cases, the centres have been prepared to independently fund the development of this new exciting drug.
“Given the fundamental value we see in GDC-0084, a potential development would need to meet a high hurdle but the growing excitement of clinicians and researchers for the drug has attracted considerable attention.”
With Cantrixil, the treatment for ovarian cancer Ross added the drug had progressed with clear signals of activity in patients.
“We have increasing confidence that both our programs are tacking to their respective milestones.”
Kazia’s chief executive officer James Garner said reaching six clinical trials over the last 12 months showed Kazia had come a long way in a short time.
“Four of our studies are primarily funded by sources external to Kazia, either the hospitals by whom they are being conducted or by the US-National Cancer Institute.
“This support creates enormous leverage for Kazia.”
Kazia is set to become a late-stage clinical company in 2020.