Kazia Therapeutics Closes Oversubscribed Offering, Up to $120M Raised
Sydney – September 04, 2026 -- Kazia Therapeutics Limited (NASDAQ: KZIA) has closed an oversubscribed, tranched public offering that generated approximately $40 million in upfront gross proceeds, with total potential proceeds reaching approximately $120 million if milestone-linked warrants are fully exercised.
Offering priced above market with milestone-triggered warrant premiums
The combined offering price was set at $15.50 per American Depositary Share (ADS), with both warrant tranches priced at premiums to that level. Series A Warrants carry an exercise price of $17.825 per ADS, a 15% premium, tied to Kazia's Stage IV triple-negative breast cancer (TNBC) data readout expected in the second half of 2027. Series B Warrants carry an exercise price of $19.375 per ADS, a 25% premium, tied to the company's HR+/HER2- breast cancer data readout expected in the first half of 2028.