Financial Position
Kazia closed the quarter to 30 September 2022 with a cash balance on hand of A$5.3 million(approximately US$3.4 million), a decrease of A$1.7 million on the previous quarter. On a conservative forward-looking forecast, the company projects runway to 1Q CY2023.
However, the company notes that future expenditure will be significantly reduced due to the removal of costs associated with Stage 2 of the GBM AGILE study. The remaining part of GBM AGILE is fully-funded and the company anticipates no material further expenditure on the study.
The company continues to periodically use its NASDAQ ATM financing facility in a judicious way to support its operational requirements. The ATM allows the company to raise capital dynamically in the market, with no discount, no warrant coverage, and modest banking fees, allowing it to fund itself with minimal dilution to existing shareholders.
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Financial PositionKazia closed the quarter to 30 September 2022...
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