Kazia Therapeutics in trading halt ahead of the release of new clinical data

Kazia Therapeutics Ltd (ASX:KZA) is in trading halt ahead of the release of new clinical data from its GDC-0084 phase-II trial.

The trading halt will remain in place until the beginning of trade on Monday, November 25 or when an announcement is made – whichever occurs earliest.

Placement to raise $4 million

The company recently completed an oversubscribed placement of 10 million new fully paid ordinary shares to institutional and professional investors in Australia and Asia raising $4 million.

The issue of 40 cents per new share represented a 14% discount to the last closing price on October 23 of 46.5 cents.

The institutional placement will help Kazia further progress the GDC-0084 and Cantrixil programs through high-value readouts during 2020.

The placement was led by Bell Potter Securities Ltd.

Story by ProactiveInvestors