Kazia Therapeutics: Raises $4.5m and launches SPP

Kazia Therapeutics Raises $4.5m and launches SPP

• Kazia Therapeutics (KZA) launches $4.5 million via a placement to drive its clinical program toward several critical inflection points
• The placement comprises an unconditional and a conditional placement of at 11 cents a share, a 13 per cent premium to the 15-day volume-weighted average price
• The conditional portion, being the second tranche, is subject to shareholder approval at an upcoming extraordinary general meeting on February 24
• In addition, the company has launched an associated share purchase plan (with no set target amount) for eligible shareholders at the same price and terms as the placement
• Shares in Kazia are down 18.5 per cent, trading at 11 cents at 12:42 pm AEDT