Kazia Therapeutics shares surge 27.44% after-hours on $50M healthcare-focused PIPE led by institutional investors.

Kazia Therapeutics surged 27.44% in after-hours trading following the announcement of a $50.0 million private placement (PIPE) led by healthcare-focused investors, including Adar1 Capital and existing shareholder Jorey Chernett. The financing, structured as a straightforward equity offering without warrants, will fund clinical development of paxalisib for brain and breast cancer, extend the PD-L1 degrader program, and bolster the company’s cash runway through 2028. The transaction, expected to close on December 3, 2025, includes $46.5 million in net proceeds and is supported by a shelf registration for future resale of shares. The deal’s emphasis on long-term research and strong investor backing, coupled with the absence of dilutive warrants, likely fueled the sharp post-market rally as positive signals for the company’s pipeline and financial stability.