Kazia Therapeutics Ltd (ASX:KZA) (NASDAQ:KZIA) (FRA:NV9) has been granted a trading halt by the ASX pending the release of an announcement regarding a regional licensing transaction.
The halt will be in place until the start of regular trading on Tuesday, March 30, or when an announcement is released to the market, whichever occurs earliest.
Shares last traded at $1.45 and have risen from $1.16 at the end of 2020. The company’s market cap is approximately $181 million.
Worldwide licensing agreement
Earlier this month, Kazia recently entered an exclusive worldwide licensing agreement with Oasmia Pharmaceutical AB (STO:OASM) (OTCMKTS:OASMY) for Cantrixil (TRX-E-002-1), a clinical-stage, first-in-class drug candidate under development for the treatment of ovarian cancer.
This agreement will see Sweden-based Oasmia, an innovation-focused specialty pharmaceutical company, assume worldwide exclusive rights to develop and commercialise Cantrixil for all indications, with an initial focus on ovarian cancer.
Oasmia's lead product, Apealea® (paclitaxel micellar), is approved in Europe for adult patients with the first relapse of platinum-sensitive epithelial ovarian cancer, primary peritoneal cancer, and fallopian tube cancer, and is in late-stage clinical development in the US.
It expects to commence a Phase II study of Cantrixil in ovarian cancer in 2022.