somebody else doing something similarMaybe some here will...

somebody else doing something similar

Maybe some here will eventually get the reason we , and others, are saying goodbye to ASX

Kazia to de-list from ASX

Oncology-focused drug development company Kazia Therapeutics (ASX:KZA) has surprisingly announced its intention to de-list from the ASX.

Kazia says its board has ultimately determined that the costs, administrative burden and commercial disadvantages of remaining listed on ASX outweigh any benefits of a continued listing.

The company says continued listing would incur considerable costs, including listing fees, at a time when Kazia is seeking to minimise its expenditure.

Further, the board believes that delisting from ASX whilst retaining its NASDAQ listing will enable Kazia to have access to a deeper market that better understands and values biotech businesses, thereby allowing it to more readily raise more capital on better terms from a wider investor base.

Aussie shareholders will be able to sell their ASX shares now, or wait for conversion into NASDAQ shares.

Kazia has an ongoing Phase 2 study (PNOC022, NCT05009992) of paxalisib, an investigational drug for the treatment of diffuse intrinsic pontine glioma (DIPG) and other diffuse midline gliomas (DMGs).