Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Kazia Therapeutics (KZIA – Research Report). The associated price target remains the same with $15.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Kazia Therapeutics’ strategic developments and potential market opportunities. The company is advancing its lead asset, paxalisib, in a Phase 1b trial for treating triple negative breast cancer (TNBC) in combination with immunotherapies. This trial, which has recently dosed its first patient, is significant as it explores the potential of paxalisib beyond its primary focus on glioblastoma multiforme (GBM).
The TNBC study, funded by investigators, offers a chance to gather additional data on paxalisib’s safety and efficacy, particularly its ability to resensitize tumors and its potential in combination therapies. This could provide an inflection point for Kazia’s stock well ahead of the anticipated Phase 3 GBM data. The study’s outcomes could de-risk paxalisib and highlight its broader applications, thereby reinforcing the Buy recommendation for Kazia Therapeutics.