Why Is Kazia Therapeutics (KZIA) Stock Up 300% Today?

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  • Kazia Therapeutics (KZIA) stock is heading higher alongside clinical trial data.
  • The company’s glioblastoma treatment performed well against SOC.
  • This brings with it heavy trading of KZIA shares.
KZIA Stock - Why Is Kazia Therapeutics (KZIA) Stock Up 300% Today?

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Kazia Therapeutics (NASDAQ:KZIA) stock is soaring higher on Wednesday after the oncology-focused biotechnology company provided results from a Phase II/III clinical trial.

These results concern the effectiveness of paxalisib as a treatment of glioblastoma versus the standard of care (SOC). That includes a median Overall Survival (OS) period of 14.77 months for patients treated with paxalisib. For comparison, the SOC survival rate is 13.84 months.

In its prespecified secondary analysis, the median OS was 15.54 months compared to 11.89 months for SOC. Its prespecified sensitivity analysis showed a median OS of 15.54 months versus 11.7 months for SOC.

Kazia Therapeutics CEO said the following about the clinical trial results:

“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.”

What This Means for KZIA Stock

With today’s study news comes heavy trading of KZIA shares. That has more than 288 million units changing hands as of this writing. That’s a massive leap in trading volume compared to its daily average of about 199,000 shares.

KZIA stock is up 300% as of Wednesday morning.

Investors will want to stick around for more of the most recent stock market stories today!

We are offering up insight into all of the biggest stock market news for Wednesday! A few examples include what’s happening with shares of Virpax Pharmaceuticals (NASDAQ:VRPX), Longeveron (NASDAQ:LGVN) and Tesla (NASDAQ:TSLA) stock. All of that news is available at the links below!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.


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