Australia's Kazia Therapeutics gains on license deal with Swedish firm
02/03/2021 03:27
** Shares of Kazia Therapeutics KZA.AX rise as much as
5.9% to A$1.355, their biggest intraday pct gain since Feb 22
** On Monday after market hours, the cancer-focused biotech
firm said it had entered into an exclusive license deal with
Sweden-based Oasmia Pharmaceutical AB OASM.ST urn:newsml:reuters.com:*:nASXRg20r
** Deal for KZA's drug candidate Cantrixil, which is under
development for the treatment of ovarian cancer and co expects
to begin a Phase II study of the drug in 2022
** Under deal, Oasmia to make an upfront payment of $4 mln
to KZA, with contingent milestone payments of up to $42 mln
** As of last close, stock up 10.3% this year
(Reporting by Shriya Ramakrishnan in Bengaluru)
((Shriya.Ramakrishnan@thomsonreuters.com;))