Kazia stock rockets after FDA decision

7 August 2020

Australia’s Kazia Therapeutics (ASX: KZA) has been awarded Rare Pediatric Disease Designation (RPDD) for paxalisib (formerly GDC-0084) by the US regulator.

While shares rose 10% on Thursday, the news continued to boost Kazia stock in after-hours trading, more than doubling the price to $10.

The US Food and Drug Administration has provided the designation, which would result in a Priority Review Voucher (PRV) being issued should the submission be approved, for treatment of Diffuse Intrinsic Pontine Glioma (DIPG).

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