Kazia Therapeutics Limited ADR [NASDAQ: KZIA] loss -8.89% or -0.03 points to close at $0.25 with a heavy trading volume of 3310143 shares. The company report on March 21, 2024 at 8:52 AM that Kazia Therapeutics licenses paxalisib to Sovargen for intractable seizures in rare central nervous system diseases.
Kazia Therapeutics Limited (NASDAQ: KZIA), a biotechnology company specialising in oncology, is pleased to announce that it has entered into an exclusive licensing agreement with Sovargen Co., Ltd, a biotechnology company specializing in central nervous system (CNS) diseases, to develop, manufacture and commercialise paxalisib as a potential treatment of intractable epilepsy in focal cortical dysplasia type 2 (FCD T2) and tuberous sclerosis complex (TSC) disease. The underlying cause of FCD T2 and TSC can be traced back to somatic mutations in the PI3K/Akt/mTOR pathway or mutations in the TSC1 or TSC2 genes, which lead to the overactivation of the mTOR pathway. Paxalisib is an oral dual inhibitor targeting both PI3K and mTOR within this pathway, and it is distinguished by its ability to penetrate the brain. Although FCD T2 and TSC are rare orphan diseases, they represent a high medical unmet need with significant market opportunity. There are currently no approved drugs for patients with FCD T2.
Under the agreement, Kazia will receive an upfront payment of US$1.5 million, potential milestone payments of up to US$19 million upon the achievement of development and regulatory milestones, and a percentage of sub-licensing revenues and royalties on net sales of products incorporating paxalisib. The licensing agreement includes all countries worldwide, excluding mainland China, Hong Kong, Macao and Taiwan, which Kazia retains.
The daily chart for KZIA points out that the company has recorded -74.83% loss over the past six months.
If we look at the average trading volume of 754.44K shares, KZIA reached to a volume of 3310143 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Kazia Therapeutics Limited ADR [KZIA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KZIA shares is $2.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KZIA stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Maxim Group have made an estimate for Kazia Therapeutics Limited ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 14, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on January 05, 2021, representing the official price target for Kazia Therapeutics Limited ADR stock.
The Average True Range (ATR) for Kazia Therapeutics Limited ADR is set at 0.04 The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 0.15.
Trading performance analysis for KZIA stock
Kazia Therapeutics Limited ADR [KZIA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.79. With this latest performance, KZIA shares dropped by -19.33% in over the last four-week period, additionally sinking by -74.83% over the last 6 months – not to mention a drop of -73.71% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KZIA stock in for the last two-week period is set at 48.58, with the RSI for the last a single of trading hit 53.13, and the three-weeks RSI is set at 45.55 for Kazia Therapeutics Limited ADR [KZIA]. The present Moving Average for the last 50 days of trading for this stock 0.2882, while it was recorded at 0.2489 for the last single week of trading, and 0.6973 for the last 200 days.
Kazia Therapeutics Limited ADR [KZIA]: A deeper dive into fundamental analysis
Kazia Therapeutics Limited ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.42 and a Current Ratio set at 1.42.
An analysis of Institutional ownership at Kazia Therapeutics Limited ADR [KZIA]
The top three institutional holders of KZIA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in KZIA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in KZIA stock with ownership which is approximately 5.8325%.
