Kazia Therapeutics’ [NASDAQ: KZIA] Paxalisib Receives Orphan Drug Designation

Kazia Therapeutics [NASDAQ: KZIA] disclosed Monday that its Paxalisib has got the orphan drug designation from the US FDA. Paxalisib is formerly known as GDC-0084 for the treatment of malignant glioma.

Orphan Drug Designation is the special status awarded to the drugs which has the potential to treat rare diseases. The one benefit of ODD is that it provide the Orphan Drug Exclusivity to drug developers.

Another benefit is that it gives opportunities for grant funding, protocol assitance, and finacial benefits includes waiver of New Drug Application fees, and tax credits.

Shares of Kazia Therapeutics soared 2.47% at $7.48 during the trading of Friday. It has day low and high range of $6.86-$7.59, respectively.

In the past 52-weeks of trading, this company’s stocks fluctuated between the low of $2.27 and a high of $9.74. It has moved up 230.11% from its 52-weeks low and moved down -23.20% from its 52-weeks high.

Kazia Therapeutics has a trading volume of 797.73K and an average volume of 566.62K. Looking at its liquidity, its current ratio is 2.40. Similarly, its quick ratio is also 2.40. Furthermore, its market capitalization is 76.07 million.

Kazia disclosed that it will present its data from its ongoing phase II study of paxalisib in glioblastoma at the Society for Neuro-Oncology (SNO) Annual Meeting in November 2020.