Kazia Therapeutics jumps 30% on positive results
Kazia Therapeutics surged 30% on Wednesday, adding to already big gains this month after the biotech shared a summary of new positive data from its phase II trial of Paxalisib. The trial is evaluating the use of the drug to treat glioblastoma, a common and aggressive form of brain cancer.
The new interim analysis of the Paxalisib phase II study was highly consistent with prior data, with median progression-free survival of 8.4 months reported on the analysis, versus 5.3 months for temozolomide, the existing standard of care.
Kazia CEO, Dr James Garner, commented, “this is very reassuring data from the glioblastoma study, confirming our earlier results with the data now much more mature. In studies such as this, volatility is the enemy of dependability. From the very first efficacy data we reported from this study, in November 2019, through the ASCO and AACR presentations in June 2020, to today’s latest analysis, the PFS and OS figures have remained extremely stable as the study has progressed. This gives us a great deal of confidence that what we are seeing is representative and reliable.”
He added, “we expect this study to conclude in the first half of calendar 2021, but it has already provided useful information to guide the development of paxalisib. We have moved into the operational phase of the GBM AGILE pivotal study, and we expect that study to now be the primary focus of our work in glioblastoma from this point forward.”
Kazia Therapeutics is an innovative oncology-focused biotechnology company, based in Sydney, whose pipeline includes two clinical-stage drug development candidates, along with development work on several therapies across a range of oncology indications.