Kazia Therapeutics shares surge 11.83% intraday after announcing $50M private placement to fund paxalisib trials and extend cash runway to 2028.

Kazia Therapeutics surged 11.83% intraday after announcing a $50 million private placement (PIPE) led by healthcare-focused investors, including Adar1 Capital and existing shareholder Jorey Chernett. The financing, expected to close December 3, 2025, will fund clinical development of paxalisib, its brain-penetrant dual PI3K/mTOR inhibitor for brain cancer and advanced breast cancer, and extend its cash runway to mid-2028. The transaction, structured as a straightforward equity investment without warrants, underscores investor confidence in Kazia’s oncology pipeline and strategic focus on advancing paxalisib’s trials. The news directly aligns with the stock’s intraday rally, reflecting optimism over capital access and therapeutic progress.