What's Going On With Kazia Therapeutics Shares Thursday?

Kazia Therapeutics KZIA stock is trading higher on Thursday on possible continued momentum from the company’s Wednesday press release.

The Details: The company announced results from its Phase II/III trial in regards to the treatment of glioblastoma, a type of brain cancer.

The trial, containing 313 participants, compared the effectiveness of paxalisib versus the current standard of care. The results showed a 3.8 month increase in overall survival, or about a 33% improvement. The median overall survival was 14.77 months for paxalisib-treated patients compared to 13.84 months for patients treated with standard care.

In a preplanned additional analysis, the median overall survival was 15.54 months for those treated with paxalisib compared to 11.89 months for those receiving standard care. A sensitivity analysis also showed similar results: 15.54 months for paxalisib-treated patients and 11.70 months for those on standard care.

These findings match the results from an earlier phase II study by the company.

“Having comparable Overall Survival data across two independent studies is a compelling outcome in this difficult to treat glioblastoma population. We look forward to discussing possible approaches for an accelerated approval pathway for paxalisib with the FDA,” said Kazia CEO John Friend.

KZIA Price Action: At the time of publication, Kazia Therapeutics shares are trading 58.5% higher at $1.06 per data from Benzinga Pro.

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