BRIEF—Kazia Therapeutics: new indications for GDC-0084

ASX and Nasdaq listed biotech firm Kazia Therapeutics has added two further indications to the development program for its brain-penetrant PI3K inhibitor GDC-0084 through collaborations with prestigious US-based cancer centers.

The collaborations further validate the potential of GDC-0084, which was in-licensed from Genentech (part of Swiss pharma giant Roche) in 2016, comment analysts at Edison Investment Research.

Importantly, the two additional indications will provide alternative pathways to a potential first marketing approval for GDC-0084, increasing the overall likelihood of success.

Australia-based Kazia’s ongoing Phase IIa study of GDC-0084 in glioblastoma (GBM) is expected to report first data in early 2019.

Kazia raised A$3.4 million ($2.4 million) through a recent share placement and has a share purchase plan (SPP) underway to raise additional funds.

The analysts are increasing their valuation range for the company to between A$83 million and A$139 million.