Kazia Therapeutics shares surge 27.34% intraday after announcing $50M PIPE led by healthcare investors to fund paxalisib development and extend cash runway to 2028.

Kazia Therapeutics surged 27.34% intraday after announcing a $50.0 million private placement led by healthcare-focused investors, including Adar1 Capital and Stonepine Capital. The financing, priced at $5.00 per ADS (representing 500 ordinary shares), will fund clinical development of paxalisib, a brain-penetrant dual PI3K/mTOR inhibitor, and extend the company’s cash runway to 2028. The transaction, expected to close on December 3, 2025, includes participation from existing shareholder Jorey Chernett and is structured as a straightforward equity investment without warrants. The news directly aligns with the stock’s sharp intraday gain, as the capital infusion signals investor confidence in Kazia’s oncology pipeline and its potential to advance therapies for brain cancer and breast cancer.