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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form
6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
June
, 2025
Commission File Number
000-29962
 
 
Kazia Therapeutics Limited
(Translation of registrant’s name into English)
 
 
Three International Towers Level 24 300 Barangaroo Avenue Sydney NSW 2000
(Address of principal executive office)
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Form
20-F ☒   
Form
40-F ☐
Indicate by check mark if the registrant is submitting the Form
6-K
in paper as permitted by Regulation
S-T
Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form
6-K
in paper as permitted by Regulation
S-T
Rule 101(b)(7): ☐
 
 
 

INFORMATION CONTAINED IN THIS FORM
6-K
REPORT
On June 9, 2025, Kazia Therapeutics Limited (the “Company”) reported its unaudited half-year results for the six months ended December 31, 2024, a copy of which is attached to this Form
6-K
as Exhibit 99.1.
The Company hereby incorporates by reference the information contained herein into the Company’s registration statements on Form
F-3
(File
No. 333-276091
and
333-281937).

EXHIBIT LIST
 
Exhibit
  
Description
99.1    Half-year report for the six months ended December 31, 2024
101.INS    XBRL Instance Document
101.SCH    XBRL Taxonomy Extension Schema Document
101.CAL    XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF    XBRL Taxonomy Extension Definition Linkbase Document
101.LAB    XBRL Taxonomy Extension Label Linkbase Document
101.PRE    XBRL Taxonomy Extension Presentation Linkbase Document
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Kazia Therapeutics Limited
(Registrant)
/s/ John Friend
John Friend
Chief Executive Officer
Date: 10 June 2025

5.1
Exhibit 99.1
 
Kazia Therapeutics Limited
ABN 37 063 259 754
Half Yearly Report - 31 December 2024

Kazia Therapeutics Limited
Directors’ report
31 December 2024
  
 
The directors present their report, together with the financial statements, on the Consolidated entity (referred to hereafter as the ‘Consolidated entity’) consisting of Kazia Therapeutics Limited (referred to hereafter as the ‘Consolidated entity’ or ‘parent entity’) and the entities it controlled at the end of, or during, the half-year ended 31 December 2024.
Directors
The following persons were directors of Kazia Therapeutics Limited during the whole of the financial year and up to the date of this report, unless otherwise stated:
Iain Ross
Bryce Carmine
Steven Coffey
Ebru Davidson
Dr John Friend
Robert Apple
Principal activities
During the financial year the principal continuing activity of the Consolidated entity consisted of pharmaceutical research and development with a view to commercialising the results of our research through license transactions or other means.
Review of operations
The loss for the Consolidated entity after providing for income tax amounted to $10,453,811 (31 December 2023: $8,823,513).
The attached financial statements detail the performance and financial position of the Consolidated entity for the half-year ended 31 December 2024.
Cash resources
At 31 December 2024, the Consolidated entity had total funds of $3,064,308 comprising cash in hand and at bank.
Going concern
The half-year financial report has been prepared on a going concern basis, which assumes continuity of normal activities and the realisation of assets and the settlement of liabilities in the ordinary course of business. For the period ended 31 December 2024 the Consolidated Entity incurred a loss after income tax of $10,453,811 (31 December 2023: $8,823,513), was in a net current liability position of $ 13,105,757 (30 June 2024: $19,652,664) and had net cash outflows from operating activities of $8,420,244 (31 December 2023: $6,334,872) for the half-year ended 31 December 2024.
As is often the case with drug development companies, the Company has not generated significant revenues, nor does the Company anticipate generating significant revenues in the near future. The ability of the Consolidated Entity to continue its development activities as a going concern is dependent upon it deriving sufficient cash from investors, from licensing and partnering activities, and from other sources of revenue such as grant funding.
The events and conditions noted above give rise to the existence of a material uncertainty that may cast significant doubt about the Consolidated entity’s ability to continue as a going concern and, therefore, the Consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.
 
1

Kazia Therapeutics Limited
Directors’ report
31 December 2024
  
 
The Directors note the following with regards to the ability of the Consolidated entity to continue as a going concern:
 
   
The
at-the-market’
equity program (“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 operations with minimal dilution to existing shareholders. An ATM with Oppenheimer & Co. Inc. (Oppenheimer) as sales agent was established in May 2022. Under the ATM, Kazia may offer and sell via Oppenheimer, in the form of American Depository Shares (ADSs), with each ADS representing 100 ordinary shares as at 31 December 2024. Subsequent to 31 December 2024 each ADS represents 500 ordinary shares. Further information in relation to this change is detailed in the ‘Matters subsequent to the end of the financial half-year’ and Note 20 of these financial statements. Kazia entered into an Equity Distribution Agreement, dated as of 22 April 2022 (the “Sales Agreement”), with Oppenheimer, acting as sales agent for an initial capacity of US$35 million. On 4 September 2024, the Equity Distribution Agreement was amended to increase the aggregate offering price to US$50 million. From July through December 2024, the Consolidated Entity raised total proceeds of US$4,190,155 using the ATM facility, the remaining capacity of US$36.9 million of its ordinary shares.
 
   
The Consolidated Entity also raised total proceeds of A$2,496,182 through its equity line of credit facility during the period, the remaining capacity on the equity line of credit is US$12,888,123.
 
   
On 30 March 2025 the Consolidated entity generated US$1,000,000 on the sale of cantrixil patents and trademarks.
The directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore additional funding sources in both Australia and overseas including grant funding, licensing opportunities and equity investment opportunities in the Company.
Accordingly, the directors have prepared the consolidated financial statements on a going concern basis. Should the above circumstances not eventuate the entity may be unable to realise its assets and discharge it liabilities in the normal course of business and at the amounts stated in these consolidated financial statements.
Research and development report
The lead program for the Consolidated entity is paxalisib (formerly known as
GDC-0084),
a small-molecule dual inhibitor of the phosphatidylinositide
3-kinase
(PI3K) pathway and the mammalian target of rapamycin (mTOR), which was licensed from Genentech, Inc. in October 2016. The development candidate is distinguished from the majority of molecules in this class by its ability to cross to the blood-brain barrier, which has been demonstrated in multiple animal species and confirmed in human data.
Paxalisib is protected by granted or pending
composition-of-matter
patents in all commercially relevant territories. Loss of exclusivity varies between territories but is no earlier than 2030 in any territory. Paxalisib was granted Orphan Drug Designation (ODD) for glioblastoma by the US FDA in February 2018, and for the broader indication of glioma in August 2020. Paxalisib was granted Rare Pediatric Disease Designation (RPDD) for certain forms of childhood brain cancer by the US FDA in August 2020 and was also granted Fast Track Designation for glioblastoma in August 2020. In addition, paxalisib was granted ODD by the US FDA for the treatment of atypical rhabdoid/teratoid tumours (AT/RT), a rare pediatric brain cancer, in June 2022 and RPDD in July 2022. Paxalisib in combination with radiation therapy was also granted Fast Track Designation for patients with solid tumor brain metastases and PI3K pathway mutations in July 2023. Collectively, these special designations provide paxalisib with enhanced access to the FDA, a waiver of PDUFA fees, a period of data exclusivity and, in the specific cases of RPDD, the potential to secure a pediatric Priority Review Voucher (pPRV) should paxalisib be approved in either of these indications.
Paxalisib has completed a
47-patient
phase I clinical study under Genentech in patients with progressive or recurrent high grade glioma (NCT01547546), which showed the drug to be generally safe and well-tolerated, and which provided pharmacodynamic proof of concept and signals of potential clinical activity. This study was published in
Clinical Cancer Research
, and a companion paper detailing a post hoc analysis of imaging data from the study has been published in the same journal.
In 2020, Kazia completed a phase II clinical trial of paxalisib in newly diagnosed glioblastoma patients with unmethylated MGMT promotor status (NCT03522298), which is expected to be the primarily target population at commercial launch. This study has confirmed the safety profile and pharmacokinetic parameters of the drug in this specific population, and has provided convincing signals of clinical efficacy. Final data from the completed phase ll study of paxalisib was presented at several neuro
-
oncology and medical oncology conferences. The key findings included a median overall survival of 15.7 months, which compares favorably to the figure of 12.7 months that has been reported for temolozolomide, the existing standard of care.
 
2

Kazia Therapeutics Limited
Directors’ report
31 December 2024
  
 
In October 2020, the Consolidated entity executed a definitive agreement with the Global Coalition for Adaptive Research (GCAR) to introduce paxalisib into the ongoing adaptive platform study, GBM AGILE (NCT03970447). This study is designed to provide substantial evidence for approval of new drugs in glioblastoma, and is intended to serve as the pivotal study for paxalisib in US, EU, and other markets. The first patient recruited by a site opened to the paxalisib arm occurred on 7 January 2021. In November 2021, the study opened to recruitment in Canada. Expansion to several countries in Europe was completed during CY2022. Final data from the GBM AGILE study was obtained during 1H CY2024.
On 1 August 2022, the Consolidated entity announced that it had been informed by GCAR that the paxalisib arm had not graduated to the second stage of the GBM AGILE study, and that recruitment had therefore completed with approximately 150 patients enrolled to the first stage. Those patients remain ongoing, with initial data obtained in 1H CY2024. The interim ‘graduation’ analysis may have been affected by the rapid and back-loaded recruitment profile of the study and does not preclude a positive outcome in the final data.
On 10 July, 2024, Kazia announced results from the
GBM-AGILE
study. A total of 313 newly diagnosed unmethylated (“NDU”) patients and recurrent patients were randomized to either a paxalisib treatment arm (up to 60 mg/day) or the Standard of Care (“SOC”) concurrent control arm from January 2021 to May 2022. For the primary analysis the median Overall Survival (“OS”) was 14.77 months for paxalisib-treated NDU patients (n=54) versus 13.84 months for cumulative SOC NDU patients (n=75). For a prespecified secondary analysis in the NDU patients, median OS was 15.54 months in the paxalisib arm (n=54) versus 11.89 months for concurrent SOC (n=46). In addition, a prespecified sensitivity analysis in NDU patients showed similar median OS difference between paxalisib treated patients (15.54 months) and concurrent SOC patients (11.70 months). An efficacy signal was not detected in the recurrent disease population (median OS of 9.69 months for concurrent SOC (n=113) versus 8.05 months for paxalisib (n=100). Based on the totality of data available from all completed paxalisib clinical studies in newly diagnosed unmethylated GBM patients, Kazia met with the FDA in December 2024 to discuss the results and determine next steps for paxalisib. Formal minutes of this meeting and confirmation of the discussion outcome was not provided to Kazia until January 2025. FDA informed Kazia that a phase III study would be required for approval and commercialization of paxalisib. As of the time of this report, the company is evaluating options, partners as well as assessing costs and timelines for executing the phase III clinical study.
Eight investigator-initiated studies continued to progress during the period: a phase ll study in DIPG and other diffuse midline pediatric gliomas run by the Pacific Pediatric Neuro-Oncology Consortium (PNOC) (NCT05009992) (see description below), a phase II study with paxalisib in HER2+ breast cancer brain metastases at Dana-Farber Cancer Institute in Boston, MA (NCT03765983), a phase II multi-drug, genomically-guided study in brain metastases run by the Alliance for Clinical Trials in Oncology (NCT03994796), a phase I study with paxalisib in combination with radiotherapy for brain metastases at Memorial Sloan Kettering Cancer Center in New York, NY (NCT04192981), a phase II study with paxalisib in primary CNS lymphoma at Dana-Farber Cancer Institute in Boston, MA(NCT04906096), a phase ll study in glioblastoma with ketogenesis run by Weill Cornell Medicine (NCT05183204), a phase I study in low grade glioma run by University of Sydney (LUMOS2) and a phase I study in children with high grade glioma and PI3K pathway mutations (OPTIMISE). o
In December 2022, the Consolidated entity announced the existence of a research collaboration with the Queensland Institute of Medical Research, to explore the use of paxalisib as an immodulator in the treatment of solid tumours. This work potentially identifies a novel mechanism of action for the drug, and consequently has been patented to secure novel intellectual property. Potentially, the project may support use of the drug in combination with immuno-oncology therapies.
The Consolidated entity’s second R&D program is EVT801, a small-molecule selective inhibitor of vascular endothelial growth factor receptor 3 (VEGFR3), which was licensed from Evotec SE in April 2021. The development candidate exhibits a very high degree of selectivity for VEGFR3 over other protein kinases, and this is expected to be associated with a favourable toxicity profile in the clinic and, potentially, a lesser propensity for secondary resistance.
A phase I multiple-ascending dose study of EVT801 in patients with advanced cancer (NCT05114668) has completed enrolment and final data is expected in 2H CY2025.
Significant changes in the state of affairs
There were no significant changes in the state of affairs of the Consolidated entity during the financial half-year.
 
3

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Matters subsequent to the end of the financial half-year
On 14 January 2025 the company executed a direct offering with existing fundamental healthcare investor, Alumni Capital LP, of 1,333,333 of the Company’s American Depositary Shares (“ADSs”) (or ADS equivalents in lieu thereof), each ADS representing 100 ordinary shares of the Company, at a purchase price of US$1.50 per ADS (or ADS equivalent in lieu thereof) and concurrent private placement of unregistered warrants to purchase up to an aggregate of 1,333,333 ADSs. The warrants will have an exercise price of US$1.50 per ADS, will be immediately exercisable upon issuance, and will expire five and
one-half
years from the date of issuance.
Additionally, on 14 January 2025, Maxim (broker) received 40,000 warrants - ex price $1.50 with an expiry of 14 July 2030
Further, Alumni Capital LP received 553,440 ADSs paying US$1.50 per ADS for a total of US$830,160 and received 779,893
pre-funded
warrants with an
ex-price
of US$0.0001 paying US$1.4999 per prefunded warrant for a total of US$1,169,839.50. All 779,893 warrants were exercised on 30 January 2025. After fees of $139,999.98 were paid, the Company received US$1,859,999.52.
On 11 February 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$575,700 for 600,000 ADSs
On 31 March 2025, the Company announced the sale of all intellectual property and trademarks rights to Cantrixil for US$1 million.
On 1 April 2025, Kazia announced that it planned to affect an ADS ratio change to change the ratio of ADSs to ordinary shares from one ADS to one hundred ordinary shares to the new ratio of one ADS to five hundred ordinary shares. The ADS ratio change will have the same effect as a
one-for-five
reverse ADS split for Kazia’s ADS holders. There will be no change to Kazia’s underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS ratio change. The ADS ratio change became effective on 17 April 2025.
On 12 May 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$91,770 for 30,000 ADSs.
On 12 May 2025, the Company received a notification (the Notification) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (Nasdaq) notifying the Company that from 28 March 2025
 to 9 May 2025, the Company’s Market Value of Listed Securities (MVLS) was below the minimum of $35 million. The Notification has no immediate impact on the Company’s operations or listing and Kazia’s American Depositary Shares (ADSs) will continue to trade on the Nasdaq Capital Market under the ticker “KZIA”. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days to regain compliance with the MVLS Requirement.
No other matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the Consolidated entity’s operations, the results of those operations, or the Consolidated entity’s state of affairs in future financial years.
Auditors independence declaration
A copy of the auditors independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors report.
This report is made in accordance with a resolution of Directors, pursuant to section 298(2)(a) of the Corporations Act 2001.
On behalf of the Directors
 
/s/ Steven Coffey
Steven Coffey
Board Member
 
5 June 2025
Sydney
 
4

Kazia Therapeutics Limited
Auditor’s independence declaration
  
 
 
  
Tel: +61 2 9251 4100
Fax: +61 2 9240 9821
www.bdo.com.au
  
Parkline Place
Level 25, 252 Pitt Street
Sydney NSW 2000
Australia
DECLARATION OF INDEPENDENCE BY GARETH FEW TO THE DIRECTORS OF KAZIA THERAPEUTICS LIMITED
As lead auditor for the review of Kazia Therapeutics Limited for the half-year ended 31 December 2024, I declare that, to the best of my knowledge and belief, there have been:
 
1.
No contraventions of the auditor independence requirements of the
Corporations Act 2001
in relation to the review; and
 
2.
No contraventions of any applicable code of professional conduct in relation to the review.
This declaration is in respect of Kazia Therapeutics Limited and the entities it controlled during the period.
 
Gareth Few
Director
BDO Australia Ltd
Sydney, 5 June 2025
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050 110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent r firms. Liability limited by a scheme approved under Professional Standards Legislation.
 
5

Kazia Therapeutics Limited
Contents
31 December 2024
  
 
     7  
     8  
     9  
     10  
     11  
     23  
     24  
General information
The financial statements cover Kazia Therapeutics Limited as a Consolidated entity consisting of Kazia Therapeutics Limited and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is Kazia Therapeutics Limited’s functional and presentation currency.
Kazia Therapeutics Limited is a public Consolidated entity limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:
Three International Towers
Level 24, 300 Barangaroo Avenue
Sydney NSW 2000
A description of the nature of the Consolidated entity’s operations and its principal activities are included in the directors report, which is not part of the financial statements.
The financial statements were authorised for issue, in accordance with a resolution of directors, on 5 June 2025.
 
6

Kazia Therapeutics Limited
Statement of profit or loss and other comprehensive income
For the half-year ended 31 December 2024
  
 
           
Consolidated
 
           
December
   
December
 
    
Note
    
2024
$
   
2023
$
 
Revenue and other income
       
Other income
        22,290       5  
Finance Income
        28,667       6,453  
Expenses
       
Research and development expense
        (4,282,101     (4,327,717
General and administrative expense
        (5,108,573     (4,555,691
Fair value (loss)/gain on financial liabilities
        (1,999,648     84,587  
Gain/(loss) on revaluation of contingent consideration
        750,008       (166,696
     
 
 
   
 
 
 
Loss before income tax benefit
        (10,589,357     (8,959,059
Income tax benefit
        135,546       135,546  
     
 
 
   
 
 
 
Loss after income tax benefit for the half-year attributable to the owners of Kazia Therapeutics Limited
        (10,453,811     (8,823,513
Other comprehensive income
       
Items that may be reclassified subsequently to profit or loss
       
Net exchange difference on translation of financial statements of foreign controlled entities, net of tax
        174,335       (103,687
     
 
 
   
 
 
 
Other comprehensive income for the half-year, net of tax
        174,335       (103,687
     
 
 
   
 
 
 
Total comprehensive income for the half-year attributable to the owners of Kazia Therapeutics Limited
        (10,279,476     (8,927,200
     
 
 
   
 
 
 
           
Cents
   
Cents
 
Basic earnings per share
     18        (2.459     (3.680
Diluted earnings per share
     18        (2.459     (3.680
 
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes
7

Kazia Therapeutics Limited
Statement of financial position
As at 31 December 2024
  
 
         
Consolidated
 
         
December
       
    
Note
  
2024
   
June 2024
 
         
$
   
$
 
Assets
       
Current assets
       
Cash and cash equivalents
   4      3,064,308       1,657,478  
Trade and other receivables
   5      96,132       3,896,729  
Other assets
   6      246,248       591,162  
     
 
 
   
 
 
 
Total current assets
        3,406,688       6,145,369  
     
 
 
   
 
 
 
Non-current
assets
       
Intangibles
   7      14,465,312       15,400,023  
R&D rebate due
        40,000       40,000  
     
 
 
   
 
 
 
Total
non-current
assets
        14,505,312       15,440,023  
     
 
 
   
 
 
 
Total assets
        17,912,000       21,585,392  
     
 
 
   
 
 
 
Liabilities
       
Current liabilities
       
Trade and other payables
   8      10,459,756       15,067,945  
Other financial liabilities
   9      2,017,878       6,478,060  
Borrowings
   10      140,737       634,191  
Employee benefits
   11      378,841       364,933  
Contingent consideration
   12      3,515,233       3,252,904  
     
 
 
   
 
 
 
Total current liabilities
        16,512,445       25,798,033  
     
 
 
   
 
 
 
Non-current
liabilities
       
Deferred tax
   13      1,882,634       2,018,180  
Employee benefits
   11      35,800       35,219  
Contingent consideration
   12      3,288,664       3,751,717  
     
 
 
   
 
 
 
Total
non-current
liabilities
        5,207,098       5,805,116  
     
 
 
   
 
 
 
Total liabilities
        21,719,543       31,603,149  
     
 
 
   
 
 
 
Net liabilities
        (3,807,543     (10,017,757
     
 
 
   
 
 
 
Equity
       
Contributed equity
   14      117,457,171       101,637,758  
Unissued equity
   15      380,224       —   
Reserves
   16      3,443,243       3,474,755  
Accumulated losses
        (125,088,181     (115,130,270
     
 
 
   
 
 
 
Total deficiency in equity
        (3,807,543     (10,017,757
     
 
 
   
 
 
 
 
The above statement of financial position should be read in conjunction with the accompanying notes
8

Kazia Therapeutics Limited
Statement of changes in equity
For the half-year ended
31 
December 2024
  
 
Consolidated
  
Issued
capital
$
   
Unissued
equity
$
    
Share based
payment
reserve
$
   
Foreign
currency
translation
reserve
$
   
Accumulated
losses
$
   
Total equity
$
 
Balance at 1 July 2023
     97,452,246              4,422,666       (741,790     (89,082,571     12,050,551  
Loss after income tax benefit for the half-year
                              (8,823,513     (8,823,513
Other comprehensive income for the half-year, net of tax
                        (103,687           (103,687
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
Total comprehensive income for the half-year
                        (103,687     (8,823,513     (8,927,200
Transactions with owners in their capacity as owners:
             
Issue of shares
     1,648,187                                1,648,187  
Share issue costs
     (320,719                              (320,719
Conversion of convertible promissory note
     —        380,224                          380,224  
Employee share-based payment options
                  436,465                   436,465  
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
Balance at 31 December 2023
     98,779,714       380,224        4,859,131       (845,477     (97,906,084     5,267,508  
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
Consolidated
  
Issued
capital
$
   
Unissued
equity
$
    
Share based
payment
reserve
$
   
Foreign
currency
translation
reserve
$
   
Accumulated
losses
$
   
Total equity
$
 
Balance at 1 July 2024
     101,637,758              4,224,946       (750,191     (115,130,270     (10,017,757
Loss after income tax benefit for the half-year
                              (10,453,811     (10,453,811
Other comprehensive income for the half-year, net of tax
                        174,335       —        174,335  
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
Total comprehensive income for the half-year
                        174,335       (10,453,811     (10,279,476
Issue of shares
     16,387,602                                16,387,602  
Transactions with owners in their capacity as owners:
             
Share issue costs
     (187,965     —         —        —        —        (187,965
Unissued equity
     (380,224     380,224                           
Revaluation of
available-for-sale
financial assets
                                     
Employee share-based payment options - expired
                  (495,900           495,900        
Employee share-based payment options
                  290,053                   290,053  
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
Balance at 31 December 2024
     117,457,171       380,224        4,019,099       (575,856     (125,088,181     (3,807,543
  
 
 
   
 
 
    
 
 
   
 
 
   
 
 
   
 
 
 
 
The above statement of changes in equity should be read in conjunction with the accompanying notes
9

Kazia Therapeutics Limited
Statement of cash flows
For the half-year ended 31 December 2024
  
 
         
Consolidated
 
         
December
   
December
 
    
Note
  
2024
   
2023
 
         
$
   
$
 
Cash flows from operating activities
       
Payments to suppliers (inclusive of GST)
        (8,420,244     (6,295,615
Interest paid
              (39,257
     
 
 
   
 
 
 
Net cash used in operating activities
   19      (8,420,244     (6,334,872
     
 
 
   
 
 
 
Cash flows from financing activities
       
Proceeds from issue of shares (net of costs)
   14      8,561,589       1,327,468  
Proceeds from promissory note
   15            776,670  
Repayment of promissory note
   15            (371,802
Proceeds from issue of equity and
pre-funded
warrants
   9      1,178,106       3,020,315  
     
 
 
   
 
 
 
Net cash from financing activities
        9,739,695       4,752,651  
     
 
 
   
 
 
 
Net increase/(decrease) in cash and cash equivalents
        1,319,451       (1,582,221
Cash and cash equivalents at the beginning of the financial half-year
        1,657,478       5,241,197  
Effects of exchange rate changes on cash and cash equivalents
        87,379       (96,374
     
 
 
   
 
 
 
Cash and cash equivalents at the end of the financial half-year
   4      3,064,308       3,562,602  
     
 
 
   
 
 
 
 
The above statement of cash flows should be read in conjunction with the accompanying notes
10

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 1. Material accounting policy information
These general purpose financial statements for the interim half-year reporting period ended 31 December 2024 have been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001, as appropriate for
for-profit
oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting.
These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by the Consolidated entity during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.
The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.
Classification and initial measurement of financial assets
The Consolidated entity’s other financial liabilities comprise derivatives in respect of prefunded and ordinary warrants. Prefunded and ordinary warrants are measured at fair value through profit or loss. All transactions costs in relation to the warrants are expensed immediately. Changes to the fair value of the instruments post issue will be recognised in profit or loss.
New or amended Accounting Standards and Interpretations adopted
The Consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period. Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Consolidated entity.
 
11

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 1. Material accounting policy information (continued)
 
Going concern
The half-year financial report has been prepared on a going concern basis, which assumes continuity of normal activities and the realisation of assets and the settlement of liabilities in the ordinary course of business. For the period ended 31 December 2024 the Consolidated Entity incurred a loss after income tax of $10,453,811 (31 December 2023: $8,823,513), was in a net current liability position of $ 13,105,757 (30 June 2024: $19,652,664) and had net cash outflows from operating activities of $8,420,244 (31 December 2023: $6,334,872) for the half-year ended 31 December 2024.
As is often the case with drug development companies, the Company has not generated significant revenues nor does the Company anticipate generating significant revenues in the near future. The ability of the Consolidated Entity to continue its development activities as a going concern is dependent upon it deriving sufficient cash from investors, from licensing and partnering activities, and from other sources of revenue such as grant funding.
The events and conditions noted above give rise to the existence of a material uncertainty that may cast significant doubt about the Consolidated entity’s ability to continue as a going concern and, therefore, the Consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.
The Directors note the following with regards to the ability of the Consolidated entity to continue as a going concern:
 
   
The
at-the-market’
equity program (“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 operations with minimal dilution to existing shareholders. An ATM with Oppenheimer & Co. Inc. (Oppenheimer) as sales agent was established in May 2022. Under the ATM, Kazia may offer and sell via Oppenheimer, in the form of American Depository Shares (ADSs), with each ADS representing 100 ordinary shares as at 31 December 2024. Subsequent to 31 December 2024 each ADS represents 500 ordinary shares. Further information in relation to this change is detailed in the ‘Matters subsequent to the end of the financial half-year’ and Note 20 of these financial statements. Kazia entered into an Equity Distribution Agreement, dated as of 22 April 2022 (the “Sales Agreement”), with Oppenheimer, acting as sales agent for an initial capacity of US$35 million. On 4 September 2024, the Equity Distribution Agreement was amended to increase the aggregate offering price to US$50 million. From July through December 2024, the Consolidated Entity raised total proceeds of US$4,190,155 using the ATM facility, the remaining capacity of US$36.9 million of its ordinary shares.
 
   
The Consolidated Entity also raised total proceeds of A$2,496,182 through its equity line of credit facility during the period, the remaining capacity on the equity line of credit is US$12,888,123.
 
   
On 30 March 2025 the Consolidated entity generated US$1,000,000 on the sale of cantrixil patents and trademarks.
The directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore additional funding sources in both Australia and overseas including grant funding, licensing opportunities and equity investment opportunities in the Company
Accordingly, the directors have prepared the consolidated financial statements on a going concern basis. Should the above circumstances not eventuate the entity may be unable to realise its assets and discharge it liabilities in the normal course of business and at the amounts stated in these consolidated financial statements.
 
12

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 2. Critical accounting judgements, estimates and assumptions
When preparing the half-year financial statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management and will seldom equal the estimated results.
The judgments, estimates and assumptions applied in the half-year financial statements, including key sources of estimation uncertainty were the same as those applied in the Consolidated entity’s last annual financial statements for the year ended 30 June 2024.
Note 3. Expenses
 
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss before income tax includes the following specific expenses:
     
Amortisation
     
Amortisation
     934,710        934,705  
  
 
 
    
 
 
 
Interest expense
     
Borrowings
     10,033        39,257  
Contingent consideration - Effective interest
     223,035        220,484  
  
 
 
    
 
 
 
     233,068        259,741  
  
 
 
    
 
 
 
Superannuation expense
     
Defined contribution superannuation expense
     26,738        48,730  
  
 
 
    
 
 
 
Employee benefits expense excluding superannuation
     
Employee benefits expense excluding superannuation
     1,138,052        1,793,896  
  
 
 
    
 
 
 
Note 4. Cash and cash equivalents
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Cash at bank and on hand
     3,064,308        1,657,478  
  
 
 
    
 
 
 
 
13

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 5. Trade and other receivables
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
GBM Agile deposit
            3,756,039  
Deposits held
     7,687        7,687  
BAS receivable
     88,445        133,003  
  
 
 
    
 
 
 
     96,132        3,896,729  
  
 
 
    
 
 
 
The GBM Agile deposit was advanced to GCAR at the start of the GBM Agile trial and was refundable if not utilised against trial expenses. The amount has been allocated against expenditure in 2H CY2024.
Note 6. Other assets
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Prepayments
     246,248        591,162  
  
 
 
    
 
 
 
Other assets contain the prepayment of invoices in relation to the annual insurance renewal program and an offsetting borrowing for the funding of this prepayment in included in Borrowings - See Note 10 ‘Borrowings’.
Note 7. Intangibles
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
assets
     
Licensing agreement - Paxalisib
     16,407,788        16,407,788  
Less: Accumulated amortisation
     (8,877,247      (8,335,073
  
 
 
    
 
 
 
     7,530,541        8,072,715  
  
 
 
    
 
 
 
Licensing agreement -
EVT-801
     9,813,362        9,813,362  
Less: Accumulated amortisation
     (2,878,591      (2,486,054
  
 
 
    
 
 
 
     6,934,771        7,327,308  
  
 
 
    
 
 
 
     14,465,312        15,400,023  
  
 
 
    
 
 
 
 
14

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 7. Intangibles (continued)
 
Reconciliations
Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below:
 
    
EVT801
licensing
agreement
    
Paxalisib
licensing
agreement
     Total  
Consolidated
   $      $      $  
Balance at 1 July 2024
     7,327,308        8,072,715        15,400,023  
Amortisation expense
     (392,538      (542,173      (934,711
  
 
 
    
 
 
    
 
 
 
Balance at 31 December 2024
     6,934,770        7,530,542        14,465,312  
  
 
 
    
 
 
    
 
 
 
Note 8. Trade and other payables
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Trade payables
     6,331,896        4,548,255  
Accrued and other payables
     4,127,860        10,519,690  
  
 
 
    
 
 
 
     10,459,756        15,067,945  
  
 
 
    
 
 
 
Note 9. Other financial liabilities
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Prefunded and ordinary warrants
     2,017,878        6,478,060  
  
 
 
    
 
 
 
Reconciliation
     
Reconciliation of the written down values at the beginning and end of the current and previous financial half-year are set out below:
     
Opening balance
     6,478,060         
Prefunded and ordinary warrants at initial recognition
            8,599,836  
Prefunded warrants exercised
     (6,459,830      (864,930
Gain on remeasurement of other financial liabilities
     1,999,648        (1,256,846
  
 
 
    
 
 
 
Closing balance
     2,017,878        6,478,060  
  
 
 
    
 
 
 
 
15

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 9. Other financial liabilities (continued)
On 30 November, 2023, the Consolidated Entity entered into the Securities Purchase Agreement with an institutional investor, pursuant to which we issued and sold (A) in a registered direct offering, 2,620,000 ADSs and
pre-funded
warrants to purchase up to 1,824,445 ADS, and (B) in a concurrent private placement, the Ordinary Warrants to purchase up to 4,444,445 ADSs, for nil consideration, which have an exercise price of US$0.583 per ADS, are exercisable immediately and will expire on 5 June, 2029. The Ordinary Warrants were determined to be classified as a financial liability and a derivative under AASB 132 because they are denominated in a foreign currency, causing the value to vary with the USD/AUD exchange rate and the Consolidated Entity’s share price, requires a smaller net investment, and is settled at a future date. The initial fair value of the Ordinary Warrants was A$3,020,316. Additionally, as a part of the Securities Purchase Agreement, warrants were issued to the broker with an initial fair value of A$132,763. Transaction costs of A$382,463 were incurred. On 21 February, 2024, the
pre-funded
warrants were exercised.
On the 17 May 2024 the above terms were amended such that the outstanding warrants had an amended exercise price to $
0.27
per ADS and new warrant to purchase up to 1,100,000 ADSs issued with an exercise price of $0.27 per ADS.
In connection with the Purchase Agreement with Alumni Capital, the Consolidated Entity issued warrants to purchase ADSs (“Warrant ADS”) that are accounted for at fair value through profit and loss. The Warrant ADS were determined to be classified as a financial liability and a derivative under AASB 132 because they are denominated in a foreign currency, causing the value to vary with the USD/AUD exchange rate and the Consolidated Entity’s share price, requires a smaller net investment, and is settled at a future date. The initial fair value of the warrants issued was A$5,445,887. Alumni Capital can purchase a number of Warrant ADSs from the Consolidated Entity, calculated as 5% of the total commitment amount minus any previous exercises, divided by the exercise price on the exercise date. The exercise price for each Warrant ADS is determined by dividing US$6,000,000 by the total number of ordinary shares on the exercise date, then multiplying by the current ADS to ordinary share ratio.
On 11 July 2024, warrants to purchase 1,100,000 ADSs with an exercise price of $0.27 per ADS were exercised along with 2/3 of the warrants Alumni Capital were entitled to (outlined in the paragraph above). Alumni capital purchased 2,578,648 ADSs for US$0.19390 per ADS as a result of that exercise.
On 28 October 2024, the Consolidated Entity had changed the ratio of its ADSs to Ordinary Shares from one (
1
) ADS representing ten (
10
) Ordinary Shares to one (1) ADS representing one hundred (
100
) Ordinary Shares. There will be no change to our underlying Ordinary Shares, and no Ordinary Shares will be issued or cancelled in connection with the ADS ratio change prior to 28 October 2024.
The ratio change impacts outstanding warrants: In accordance with the underlying agreements, in the event of a share dividend or split the defined exercise price of the Warrants must be adjusted by a multiple equivalent to the consolidation ratio , similarly the number of Warrant ADSs that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable for the adjusted number of Warrant ADSs shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.
Note 10. Borrowings
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Insurance premium funding
     140,737        634,191  
  
 
 
    
 
 
 
Borrowings relate to the annual insurance renewal program. An offsetting prepayment of insurance invoices is included in Prepayments - See Note 6 ‘Other assets’.
 
16

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 11. Employee benefits
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Annual leave
     374,385        364,933  
Superannuation payable
     4,456        —   
  
 
 
    
 
 
 
     378,841        364,933  
  
 
 
    
 
 
 
Non-current
liabilities
     
Long service leave
     35,800        35,219  
  
 
 
    
 
 
 
     414,641        400,152  
  
 
 
    
 
 
 
Note 12. Contingent consideration
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Contingent consideration - EVT801
     3,515,233        3,252,904  
  
 
 
    
 
 
 
Non-current
liabilities
     
Contingent consideration - Paxalisib
     1,354,155        1,265,654  
Contingent consideration - EVT801
     1,934,509        2,486,063  
  
 
 
    
 
 
 
     3,288,664        3,751,717  
  
 
 
    
 
 
 
     6,803,897        7,004,621  
  
 
 
    
 
 
 
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Reconciliation of the balance at the beginning and the end of the reporting period is set out below:
     
Contingent consideration at the start of period (current and
non-current)
     7,004,621        6,870,783  
Interest
     232,447        339,436  
Foreign currency loss/(gain)
     316,836        (86,131
Gain on revaluation of contingent consideration
     (750,007      (119,467
  
 
 
    
 
 
 
     6,803,897        7,004,621  
  
 
 
    
 
 
 
 
17

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 12. Contingent consideration (continued)
 
Contingent consideration - paxalisib
During the 2017 financial year, the Consolidated Entity acquired the rights to develop and commercialize paxalisib, as part of a business combination.
The acquisition contained four development contingent milestone payments, the first two milestone payment settlements being Kazia shares, and the third and fourth development milestone payment settlements either cash or Kazia shares at the discretion of Kazia. Milestones 1 and 4 have now been paid out, and Milestone 3 has lapsed. Milestone 2 comprises shares to the value of $1,250,000.
Each milestone payment is probability weighted for valuation purposes. Milestone 2 is contingent on the completion of a Phase II clinical trial of the molecule where such trial demonstrates a statistically significant improvement in progression-free survival or other approval endpoint indicated by the US Food and Drug Administration. Based on data received during June 2024, the Directors do not believe that this milestone payment will ultimately be due and payable and as such the probability weighting assigned in the current year remains nil (2024:0%).
Milestone 5 is a revenue-based milestone contingent on net sales, which the Directors expect to ultimately be achieved and has an assigned probability of 100% (2024: 100%). Milestone 5 is discounted to present value, using a discount rate of 9% (2024: 9%) per annum.
Kazia is also required to pay royalties to Genentech in relation to net sales. These payments are related to future financial performance and are not considered as part of the consideration in relation to the Genentech agreement.
Contingent consideration - EVT801
The acquisition of EVT801 has been accounted for at cost, with milestones where the payment is considered probable being recognised as a current or
non-current
liability at period end, based on the estimated payment date. The key assumptions applied on initial recognition are reassessed in the current periods based on the revised timing of when milestone payments are expected to be paid. Milestone 3 is expected to be paid in Q42025, milestones 4 & 5 are expected to be paid Q42025 and Q32027. Milestone 3 payment has a probability of 100% (2024: 100%), Milestone 4 payment has a probability of 80% (2024: 80%), and Milestone 5 payment has a probability of 49% (2024: 63%) of occurring. Milestones are discounted to present value, using a discount rate of 9% per annum (2024: 9% per annum). The discount rate utilised is based on the incremental borrowing rate at the time of acquisition and is updated to reflect recent market changes. Milestones where the payment is not considered probable at year end have not been accounted for as a liability. The total amount of milestone payments not recognised at year end totals €300,500,000 (A$503,013,057) (2024: €300,500,000 (A$486,167,287)).
Note 13. Deferred tax
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
liabilities
     
Deferred tax liability
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Amount expected to be settled after more than 12 months
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Movements:
     
Opening balance
     2,018,180        2,018,180  
Credited to profit or loss
     (135,546       
  
 
 
    
 
 
 
Closing balance
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Consolidated entity management has completed an analysis of the availability of historical tax losses to offset the deferred tax liability. Accordingly, the Consolidated entity concludes that the historical tax losses are not expected to be available for offset against the deferred tax liability.
 
18

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 14. Contributed equity
 
    
Consolidated
 
    
December
2024
    
June 2024
    
December
2024
    
June 2024
 
    
Shares
    
Shares
    
$
    
$
 
Ordinary shares - fully paid
     483,523,934        332,850,784        117,457,171        101,637,758  
  
 
 
    
 
 
    
 
 
    
 
 
 
Movements in spare share capital
 
Details
  
Date
  
Shares
    
Issue price
    
$
 
Balance
   1 July 2024      332,850,784           101,637,758  
Conversion of Warrants
   1 July 2024      —       $ 0.0000        6,459,830  
Cancellation of convertible note shares
   2 July 2024      (5,916,970    $ 0.0000        (380,224
ATM issue of shares No. 37
   11 July 2024      14,400,000      $ 0.1534        2,209,677  
Alumni prefunded warrants exercised
   11 July 2024      25,786,480      $ 0.2867        739,536  
Armitice prefunded warrants exercised
   12 July 2024      11,000,000      $ 0.0398        438,571  
ATM issue of shares No. 38
   12 July 2024      5,488,230      $ 0.1444        792,915  
ATM issue of shares No. 39
   17 July 2024      4,177,340      $ 0.1075        449,260  
Alumni Equity Line of Credit
   17 July 2024      15,000,000      $ 0.0544        816,373  
ATM issue of shares No. 40
   08 August 2024      2,061,820      $ 0.0623        128,633  
ATM issue of shares No. 41
   12 August 2024      408,270      $ 0.0641        26,172  
ATM issue of shares No. 42
   13 August 2024      2,283,350      $ 0.0617        140,884  
ATM issue of shares No. 43
   14 August 2024      8,660      $ 0.0605        525  
ATM issue of shares No. 44
   27 August 2024      5,250,000      $ 0.0616        323,403  
ATM issue of shares No. 45
   28 August 2024      308,700      $ 0.0590        18,242  
ATM issue of shares No. 46
   30 August 2024      3,000,000      $ 0.0615        184,690  
ATM issue of shares No. 47
   03 September 2024      837,030      $ 0.0638        53,439  
ATM issue of shares No. 48
   12 September 2024      16,049,020      $ 0.0554        889,682  
ATM issue of shares No. 49
   13 September 2024      2,503,820      $ 0.0522        130,741  
ATM issue of shares No. 50
   22 November 2024      442,400      $ 0.0891        39,420  
ATM issue of shares No. 51
   25 November 2024      185,100      $ 0.0881        16,312  
Sale of shares of Alumni Capital
   11 December 2024      15,000,000      $ 0.0536        804,869  
ATM issue of shares
No. 52-59
  
26 Nov - 11 Dec 2024
     5,978,100      $ 0.0770        466,915  
Sale of shares to Alumni Capital
   18 December 2024      20,000,000      $ 0.0437        874,939  
ATM issue of shares No. 60
   16 December 2024      6,421,800      $ 0.0595        382,576  
Less: share issue transaction costs
        —       $ 0.0000        (187,967
     
 
 
       
 
 
 
Balance
   31 December 2024      483,523,934           117,457,171  
     
 
 
       
 
 
 
Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Consolidated entity in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Consolidated entity does not have a limited amount of authorised capital.
On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.
Share
buy-back
There is no current
on-market
share
buy-back.
 
19

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 14. Contributed equity (continued)
 
Capital risk management
The Consolidated entity’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital.
Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents.
The capital structure of the Consolidated entity consists of cash and cash equivalents and equity attributable to equity holders. The overall strategy of the Consolidated entity is to continue its drug development programs, which depends on raising sufficient funds, through a variety of sources including issuing of additional share capital, as may be required from time to time.
The capital risk management policy remains unchanged from the prior year.
Note 15. Unissued equity
On 23 October 2023, the Company entered into a securities purchase agreement with an accredited investor, pursuant to which the Company issued a
six-month
unsecured convertible promissory note (the “Note”) in the principal amount of A$776,670 (US$500,000). The Note bears interest at a rate of 10% per annum. On 23 December 2023 the investor called upon 50% of the Note, and cash of US$253,014 was paid, which represented US$250,000 of principal and US$3,014 of interest (total payment of A$380,224). The investor exercised their option to receive the remaining 50% in ADSs on 20 December 2023, which resulted in 591,697 ADS to be issued. On 19 June 2024, 591,697 ADSs representing 5,916,970 ordinary shares were issued at a price of A$0.0643 per ordinary share. Subsequent to 30 June 2024, the investor was unable to meet their obligations for transfer of the shares and subsequent to year end the share allocation was cancelled and remains recognised as unissued equity as at 31 December 2024.
Note 16. Reserves
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Foreign currency reserve
     (575,856      (750,192
Share-based payments reserve
     4,019,099        4,224,947  
  
 
 
    
 
 
 
     3,443,243        3,474,755  
  
 
 
    
 
 
 
Foreign currency reserve
The reserve is used to recognise exchange differences arising from translation of the financial statements of foreign operations to Australian dollars.
Share-based payments reserve
The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services.
Share based payments reserve for Employee Share Option Plan
During the half year there were no issues under the Employee Share Option Plan
Note 17. Dividends
There were no dividends paid, recommended or declared during the current or previous financial half-year.
 
20

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 18. Earnings per share
 
    
Consolidated
December
2024
    
Consolidated
December
2023
 
    
$
    
$
 
Loss after income tax attributable to the owners of Kazia Therapeutics Limited
     (10,453,811      (8,823,513
  
 
 
    
 
 
 
 
    
Number
    
Number
 
Weighted average number of ordinary shares used in calculating basic earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
Weighted average number of ordinary shares used in calculating diluted earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
    
Cents
    
Cents
 
Basic earnings per share
     (2.459      (3.680
Diluted earnings per share
     (2.459      (3.680
Note 19. Reconciliation of loss after income tax to net cash used in operating activities
 
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss after income tax benefit for the half-year
     (10,453,811      (8,823,513
Adjustments for:
     
Depreciation and amortisation
     934,711        934,705  
Share-based payments
     464,387        436,465  
Foreign exchange differences
     229,356        (13,063
Fair value losses on financial assets at fair value through profit or loss
     1,999,648        (84,587
Loss on contingent consideration
     (750,007      166,696  
Contingent consideration interest
     232,447        220,484  
Change in operating assets and liabilities:
     
Decrease in trade and other receivables
     44,560        274,618  
Increase/(decrease) in GBM Agile deposit
            (115,213
(Decrease)/increase in prepayments
     345,311        929,125  
(Decrease)/increase in insurance premium funding
     (493,454      (1,437,200
Increase/(decrease) in trade and other payables
     (852,050      1,657,728  
Decrease in deferred tax liabilities
     (135,546      (135,546
(Decrease)/increase in employee benefits
     14,204        (345,571
  
 
 
    
 
 
 
Net cash used in operating activities
     (8,420,244      (6,334,872
  
 
 
    
 
 
 
 
21

Kazia Therapeutics Limited
Notes to the financial statements
31 December 2024
  
 
Note 20. Events after the reporting period
On 14 January 2025 the company executed a direct offering with existing fundamental healthcare investor, Alumni Capital LP, of 1,333,333 of the Company’s American Depositary Shares (“ADSs”) (or ADS equivalents in lieu thereof), each ADS representing 100 ordinary shares of the Company, at a purchase price of US$1.50 per ADS (or ADS equivalent in lieu thereof) and concurrent private placement of unregistered warrants to purchase up to an aggregate of 1,333,333 ADSs. The warrants will have an exercise price of US$1.50 per ADS, will be immediately exercisable upon issuance, and will expire
five and
one-half
years
from the date of issuance.
Additionally, on 14 January 2025, Maxim (broker) received 40,000 warrants - ex price $1.50 with an expiry of 14 July 2030
Further, Alumni Capital LP received 553,440 ADSs paying US$1.50 per ADS for a total of US$830,160 and received 779,893
pre-funded
warrants with an
ex-price
of US$0.0001 paying US$1.4999 per prefunded warrant for a total of US$1,169,839.50. All 779,893 warrants were exercised on 30 January 2025. After fees of $139,999.98 were paid, the Company received US$1,859,999.52.
On 11 February 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$575,700 for 600,000 ADSs
On 31 March 2025, the Company announced the sale of all intellectual property and trademarks rights to Cantrixil for US$1 million.
On 1 April 2025, Kazia announced that it planned to affect an ADS ratio change to change the ratio of ADSs to ordinary shares from one ADS to one hundred ordinary shares to the new ratio of one ADS to five hundred ordinary shares. The ADS ratio change will have the same effect as a
one-for-five
reverse ADS split for Kazia’s ADS holders. There will be no change to Kazia’s underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS ratio change. The ADS ratio change became effective on 17 April 2025.
On 12 May 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$91,770 for 30,000 ADSs.
On 12 May 2025, the Company received a notification (the Notification) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (Nasdaq) notifying the Company that from 28 March 2025 to 9 May 2025, the Company’s Market Value of Listed Securities (MVLS) was below the minimum of $35 million. The Notification has no immediate impact on the Company’s operations or listing and Kazia’s American Depositary Shares (ADSs) will continue to trade on the Nasdaq Capital Market under the ticker “KZIA”. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days to regain compliance with the MVLS Requirement.
No other matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the Consolidated entity’s operations, the results of those operations, or the Consolidated entity’s state of affairs in future financial years.
 
22

Kazia Therapeutics Limited
Directors’ declaration
31 December 2024
  
 
In the directors’ opinion:
 
   
the attached financial statements and notes comply with the Corporations Act 2001, Australian Accounting Standard AASB 134 ‘Interim Financial Reporting’, the Corporations Regulations 2001 and other mandatory professional reporting requirements;
 
   
the attached financial statements and notes give a true and fair view of the Consolidated entity’s financial position as at 31 December 2024 and of its performance for the financial half-year ended on that date; and
 
   
there are reasonable grounds to believe that the Consolidated entity will be able to pay its debts as and when they become due and payable.
Signed in accordance with a resolution of directors made pursuant to section 303(5)(a) of the Corporations Act 2001.
On behalf of the directors
 
/s/ Steven Coffey
Steven Coffey
Board Member
 
5 June 2025
Sydney
 
23

Kazia Therapeutics Limited
Independent auditor’s review report to the members of Kazia Therapeutics Limited
  
 
  
Tel: +61 2 9251 4100
Fax: +61 2 9240 9821
www.bdo.com.au
  
Parkline Place
Level 25, 252 Pitt Street
Sydney NSW 2000
Australia
INDEPENDENT AUDITOR’S REVIEW REPORT
To the members of Kazia Therapeutics Limited
Report on the Half-Year Financial Report
Conclusion
We have reviewed the half-year financial report of (the Company) and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 31 December 2024, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, material account policy information and other explanatory information, and the directors’ declaration.
Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of the Group does not comply with the
Corporations Act 2001
including:
 
i.
Giving a true and fair view of the Group’s financial position as at 31 December 2024 and of its financial performance for the half-year ended on that date; and
 
ii.
Complying with Accounting Standard AASB
134 Interim Financial Reporting and the Corporations Regulations 2001.
Basis for conclusion
We conducted our review in accordance with ASRE 2410
Review of a Financial Report Performed by the Independent Auditor of the Entity.
Our responsibilities are further described in the
Auditor’s
Responsibilities for the Review of the Financial Report
section of our report. We are independent of the Company in accordance with the auditor independence requirements of the
Corporations Act 2001
and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110
Code of Ethics for Professional Accountants (including Independence Standards)
(the Code) that are relevant to the audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.
We confirm that the independence declaration required by the
Corporations Act 2001
which has been given to the directors of the Company, would be the same terms if given to the directors as at the time of this auditor’s review report.
Material uncertainty relating to going concern
We draw attention to Note 1 in the financial report which describes the events and/or conditions which give rise to the existence of a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern and therefore the Group may be unable to realise its assets and
BDO Audit Pty Ltd ABN 33 134 022 870 is a member of a national association of independent entities which are all members of A.C.N. 050 110 275 Ltd ABN 77 050 110 275, an Australian company limited by guarantee. BDO Audit Pty Ltd and A.C.N. 050 110 275 Ltd are members of BDO International Ltd, a UK company limited by guarantee, and form part of the international BDO network of independent member firms. Liability limited by a scheme approved under Professional Standards Legislation.
 
24

Kazia Therapeutics Limited
Independent auditor’s review report to the members of Kazia Therapeutics Limited
  
 
discharge its liabilities in the normal course of business. Our conclusion is not modified in respect of this matter.
Responsibility of the directors for the financial report
The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the
Corporations Act 2001
and for such internal control as the directors determine is necessary to enable the preparation of the half-year financial report that is true and fair and is free from material misstatement, whether due to fraud or error.
Auditor’s responsibility for the review of the financial report
Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including giving a true and fair view of the Group’s financial position as at 31 December 2024 and its performance for the half-year ended on that date, and complying with Accounting Standard AASB 134
Interim Financial
Reporting and the Corporations Regulations 2001.
A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
BDO Australia Ltd
 
Gareth Few
Director
Sydney, 5 June 2025
 
25
v3.25.1
Cover
6 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type 6-K
Amendment Flag false
Document Period End Date Dec. 31, 2024
Document Fiscal Year Focus 2025
Document Fiscal Period Focus Q2
Entity Registrant Name Kazia Therapeutics Limited
Entity Central Index Key 0001075880
Current Fiscal Year End Date --06-30
v3.25.1
Statement of profit or loss and other comprehensive income - AUD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Profit or loss [abstract]    
Other income $ 22,290 $ 5
Finance Income 28,667 6,453
Expenses    
Research and development expense (4,282,101) (4,327,717)
General and administrative expense (5,108,573) (4,555,691)
Fair value (loss)/gain on financial liabilities (1,999,648) 84,587
Gain/(loss) on revaluation of contingent consideration 750,008 (166,696)
Loss before income tax benefit (10,589,357) (8,959,059)
Income tax benefit 135,546 135,546
Loss after income tax benefit for the half-year attributable to the owners of Kazia Therapeutics Limited (10,453,811) (8,823,513)
Items that may be reclassified subsequently to profit or loss    
Net exchange difference on translation of financial statements of foreign controlled entities, net of tax 174,335 (103,687)
Other comprehensive income for the half-year, net of tax 174,335 (103,687)
Total comprehensive income for the half-year attributable to the owners of Kazia Therapeutics Limited $ (10,279,476) $ (8,927,200)
Earnings per share for loss from continuing operations attributable to the owners of Kazia Therapeutics Limited    
Basic earnings per share $ (2.459) $ (3.68)
Diluted earnings per share $ (2.459) $ (3.68)
v3.25.1
Statement of financial position - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Current assets      
Cash and cash equivalents $ 3,064,308 $ 1,657,478 $ 3,562,602
Trade and other receivables 96,132 3,896,729  
Other assets 246,248 591,162  
Total current assets 3,406,688 6,145,369  
Non-current assets      
Intangibles 14,465,312 15,400,023  
R&D rebate due 40,000 40,000  
Total non-current assets 14,505,312 15,440,023  
Total assets 17,912,000 21,585,392  
Current liabilities      
Trade and other payables 10,459,756 15,067,945  
Other financial liabilities 2,017,878 6,478,060 8,599,836
Borrowings 140,737 634,191  
Employee benefits 378,841 364,933  
Contingent consideration 3,515,233 3,252,904  
Total current liabilities 16,512,445 25,798,033  
Non-Current liabilities      
Deferred tax 1,882,634 2,018,180 2,018,180
Employee benefits 35,800 35,219  
Contingent consideration 3,288,664 3,751,717  
Total non-current liabilities 5,207,098 5,805,116  
Total liabilities 21,719,543 31,603,149  
Net liabilities (3,807,543) (10,017,757)  
Equity      
Contributed equity 117,457,171 101,637,758  
Unissued equity 380,224    
Reserves 3,443,243 3,474,755  
Accumulated losses (125,088,181) (115,130,270)  
Total deficiency in equity $ (3,807,543) $ (10,017,757) $ 5,267,508
v3.25.1
Statement of changes in equity - AUD ($)
Total
Issued capital [member]
Unissued equity [member]
Share based payment reserve [member]
Foreign currency translation reserve [member]
Accumulated losses [member]
Beginning Balance at Jun. 30, 2023 $ 12,050,551 $ 97,452,246 $ 0 $ 4,422,666 $ (741,790) $ (89,082,571)
Loss after income tax benefit for the half-year (8,823,513) 0 0 0 0 (8,823,513)
Other comprehensive income for the half-year, net of tax (103,687) 0 0 0 (103,687) 0
Total comprehensive income for the half-year (8,927,200) 0 0 0 (103,687) (8,823,513)
Transactions with owners in their capacity as owners:            
Issue of shares 1,648,187 1,648,187 0 0 0 0
Share issue costs (320,719) (320,719) 0 0 0 0
Conversion of convertible promissory note 380,224   380,224 0 0 0
Employee share-based payment options - expired 436,465 0 0 436,465 0 0
Ending balance at Dec. 31, 2023 5,267,508 98,779,714 380,224 4,859,131 (845,477) (97,906,084)
Beginning Balance at Jun. 30, 2024 (10,017,757) 101,637,758 0 4,224,946 (750,191) (115,130,270)
Loss after income tax benefit for the half-year (10,453,811) 0 0 0 0 (10,453,811)
Other comprehensive income for the half-year, net of tax 174,335 0 0 0 174,335  
Total comprehensive income for the half-year (10,279,476) 0 0 0 174,335 (10,453,811)
Transactions with owners in their capacity as owners:            
Issue of shares 16,387,602 16,387,602 0 0 0 0
Share issue costs (187,965) (187,965)        
Unissued equity 0 (380,224) 380,224 0 0 0
Revaluation of available-for-sale financial assets 0 0 0 0 0 0
Employee share-based payment options - expired 0 0 0 (495,900) 0 495,900
Employee share-based payment options 290,053 0 0 290,053 0 0
Ending balance at Dec. 31, 2024 $ (3,807,543) $ 117,457,171 $ 380,224 $ 4,019,099 $ (575,856) $ (125,088,181)
v3.25.1
Statement of cash flows - AUD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Payments to suppliers (inclusive of GST) $ (8,420,244) $ (6,295,615)
Interest paid 0 (39,257)
Net cash used in operating activities (8,420,244) (6,334,872)
Cash flows from financing activities    
Proceeds from issue of shares (net of costs) 8,561,589 1,327,468
Proceeds from promissory note 0 776,670
Repayment of promissory note 0 (371,802)
Proceeds from issue of equity and pre-funded warrants 1,178,106 3,020,315
Net cash from financing activities 9,739,695 4,752,651
Net increase/(decrease) in cash and cash equivalents 1,319,451 (1,582,221)
Cash and cash equivalents at the beginning of the financial half-year 1,657,478 5,241,197
Effects of exchange rate changes on cash and cash equivalents 87,379 (96,374)
Cash and cash equivalents at the end of the financial half-year $ 3,064,308 $ 3,562,602
v3.25.1
Material accounting policy information
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Material accounting policy information
Note 1. Material accounting policy information
These general purpose financial statements for the interim half-year reporting period ended 31 December 2024 have been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001, as appropriate for
for-profit
oriented entities. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting.
These general purpose financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these financial statements are to be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by the Consolidated entity during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.
The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.
Classification and initial measurement of financial assets
The Consolidated entity’s other financial liabilities comprise derivatives in respect of prefunded and ordinary warrants. Prefunded and ordinary warrants are measured at fair value through profit or loss. All transactions costs in relation to the warrants are expensed immediately. Changes to the fair value of the instruments post issue will be recognised in profit or loss.
New or amended Accounting Standards and Interpretations adopted
The Consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period. Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Consolidated entity.
 
 
 
Going concern
The half-year financial report has been prepared on a going concern basis, which assumes continuity of normal activities and the realisation of assets and the settlement of liabilities in the ordinary course of business. For the period ended 31 December 2024 the Consolidated Entity incurred a loss after income tax of $10,453,811 (31 December 2023: $8,823,513), was in a net current liability position of $ 13,105,757 (30 June 2024: $19,652,664) and had net cash outflows from operating activities of $8,420,244 (31 December 2023: $6,334,872) for the half-year ended 31 December 2024.
As is often the case with drug development companies, the Company has not generated significant revenues nor does the Company anticipate generating significant revenues in the near future. The ability of the Consolidated Entity to continue its development activities as a going concern is dependent upon it deriving sufficient cash from investors, from licensing and partnering activities, and from other sources of revenue such as grant funding.
The events and conditions noted above give rise to the existence of a material uncertainty that may cast significant doubt about the Consolidated entity’s ability to continue as a going concern and, therefore, the Consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.
The Directors note the following with regards to the ability of the Consolidated entity to continue as a going concern:
 
   
The
at-the-market’
equity program (“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 operations with minimal dilution to existing shareholders. An ATM with Oppenheimer & Co. Inc. (Oppenheimer) as sales agent was established in May 2022. Under the ATM, Kazia may offer and sell via Oppenheimer, in the form of American Depository Shares (ADSs), with each ADS representing 100 ordinary shares as at 31 December 2024. Subsequent to 31 December 2024 each ADS represents 500 ordinary shares. Further information in relation to this change is detailed in the ‘Matters subsequent to the end of the financial half-year’ and Note 20 of these financial statements. Kazia entered into an Equity Distribution Agreement, dated as of 22 April 2022 (the “Sales Agreement”), with Oppenheimer, acting as sales agent for an initial capacity of US$35 million. On 4 September 2024, the Equity Distribution Agreement was amended to increase the aggregate offering price to US$50 million. From July through December 2024, the Consolidated Entity raised total proceeds of US$4,190,155 using the ATM facility, the remaining capacity of US$36.9 million of its ordinary shares.
 
   
The Consolidated Entity also raised total proceeds of A$2,496,182 through its equity line of credit facility during the period, the remaining capacity on the equity line of credit is US$12,888,123.
 
   
On 30 March 2025 the Consolidated entity generated US$1,000,000 on the sale of cantrixil patents and trademarks.
The directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore additional funding sources in both Australia and overseas including grant funding, licensing opportunities and equity investment opportunities in the Company
Accordingly, the directors have prepared the consolidated financial statements on a going concern basis. Should the above circumstances not eventuate the entity may be unable to realise its assets and discharge it liabilities in the normal course of business and at the amounts stated in these consolidated financial statements.
 
v3.25.1
Critical accounting judgements, estimates and assumptions
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Critical accounting judgements, estimates and assumptions
Note 2. Critical accounting judgements, estimates and assumptions
When preparing the half-year financial statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management and will seldom equal the estimated results.
The judgments, estimates and assumptions applied in the half-year financial statements, including key sources of estimation uncertainty were the same as those applied in the Consolidated entity’s last annual financial statements for the year ended 30 June 2024.
v3.25.1
Expenses
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Expenses
Note 3. Expenses
 
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss before income tax includes the following specific expenses:
     
Amortisation
     
Amortisation
     934,710        934,705  
  
 
 
    
 
 
 
Interest expense
     
Borrowings
     10,033        39,257  
Contingent consideration - Effective interest
     223,035        220,484  
  
 
 
    
 
 
 
     233,068        259,741  
  
 
 
    
 
 
 
Superannuation expense
     
Defined contribution superannuation expense
     26,738        48,730  
  
 
 
    
 
 
 
Employee benefits expense excluding superannuation
     
Employee benefits expense excluding superannuation
     1,138,052        1,793,896  
  
 
 
    
 
 
 
v3.25.1
Cash and cash equivalents
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Cash and cash equivalents
Note 4. Cash and cash equivalents
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Cash at bank and on hand
     3,064,308        1,657,478  
  
 
 
    
 
 
 
v3.25.1
Trade and other receivables
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Trade and other receivables
Note 5. Trade and other receivables
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
GBM Agile deposit
     —         3,756,039  
Deposits held
     7,687        7,687  
BAS receivable
     88,445        133,003  
  
 
 
    
 
 
 
     96,132        3,896,729  
  
 
 
    
 
 
 
The GBM Agile deposit was advanced to GCAR at the start of the GBM Agile trial and was refundable if not utilised against trial expenses. The amount has been allocated against expenditure in 2H CY2024.
v3.25.1
Other assets
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Other assets
Note 6. Other assets
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Prepayments
     246,248        591,162  
  
 
 
    
 
 
 
Other assets contain the prepayment of invoices in relation to the annual insurance renewal program and an offsetting borrowing for the funding of this prepayment in included in Borrowings - See Note 10 ‘Borrowings’.
v3.25.1
Intangibles
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Intangibles
Note 7. Intangibles
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
assets
     
Licensing agreement - Paxalisib
     16,407,788        16,407,788  
Less: Accumulated amortisation
     (8,877,247      (8,335,073
  
 
 
    
 
 
 
     7,530,541        8,072,715  
  
 
 
    
 
 
 
Licensing agreement -
EVT-801
     9,813,362        9,813,362  
Less: Accumulated amortisation
     (2,878,591      (2,486,054
  
 
 
    
 
 
 
     6,934,771        7,327,308  
  
 
 
    
 
 
 
     14,465,312        15,400,023  
  
 
 
    
 
 
 
 
 
Reconciliations
Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below:
 
    
EVT801
licensing
agreement
    
Paxalisib
licensing
agreement
     Total  
Consolidated
   $      $      $  
Balance at 1 July 2024
     7,327,308        8,072,715        15,400,023  
Amortisation expense
     (392,538      (542,173      (934,711
  
 
 
    
 
 
    
 
 
 
Balance at 31 December 2024
     6,934,770        7,530,542        14,465,312  
  
 
 
    
 
 
    
 
 
 
v3.25.1
Trade and other payables
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Trade and other payables
Note 8. Trade and other payables
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Trade payables
     6,331,896        4,548,255  
Accrued and other payables
     4,127,860        10,519,690  
  
 
 
    
 
 
 
     10,459,756        15,067,945  
  
 
 
    
 
 
 
v3.25.1
Other financial liabilities
6 Months Ended
Dec. 31, 2024
Other Financial Liabilities Current [Abstract]  
Other financial liabilities
Note 9. Other financial liabilities
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Prefunded and ordinary warrants
     2,017,878        6,478,060  
  
 
 
    
 
 
 
Reconciliation
     
Reconciliation of the written down values at the beginning and end of the current and previous financial half-year are set out below:
     
Opening balance
     6,478,060        —   
Prefunded and ordinary warrants at initial recognition
     —         8,599,836  
Prefunded warrants exercised
     (6,459,830      (864,930
Gain on remeasurement of other financial liabilities
     1,999,648        (1,256,846
  
 
 
    
 
 
 
Closing balance
     2,017,878        6,478,060  
  
 
 
    
 
 
 
 
 
On 30 November, 2023, the Consolidated Entity entered into the Securities Purchase Agreement with an institutional investor, pursuant to which we issued and sold (A) in a registered direct offering, 2,620,000 ADSs and
pre-funded
warrants to purchase up to 1,824,445 ADS, and (B) in a concurrent private placement, the Ordinary Warrants to purchase up to 4,444,445 ADSs, for nil consideration, which have an exercise price of US$0.583 per ADS, are exercisable immediately and will expire on 5 June, 2029. The Ordinary Warrants were determined to be classified as a financial liability and a derivative under AASB 132 because they are denominated in a foreign currency, causing the value to vary with the USD/AUD exchange rate and the Consolidated Entity’s share price, requires a smaller net investment, and is settled at a future date. The initial fair value of the Ordinary Warrants was A$3,020,316. Additionally, as a part of the Securities Purchase Agreement, warrants were issued to the broker with an initial fair value of A$132,763. Transaction costs of A$382,463 were incurred. On 21 February, 2024, the
pre-funded
warrants were exercised.
On the 17 May 2024 the above terms were amended such that the outstanding warrants had an amended exercise price to $
0.27
per ADS and new warrant to purchase up to 1,100,000 ADSs issued with an exercise price of $0.27 per ADS.
In connection with the Purchase Agreement with Alumni Capital, the Consolidated Entity issued warrants to purchase ADSs (“Warrant ADS”) that are accounted for at fair value through profit and loss. The Warrant ADS were determined to be classified as a financial liability and a derivative under AASB 132 because they are denominated in a foreign currency, causing the value to vary with the USD/AUD exchange rate and the Consolidated Entity’s share price, requires a smaller net investment, and is settled at a future date. The initial fair value of the warrants issued was A$5,445,887. Alumni Capital can purchase a number of Warrant ADSs from the Consolidated Entity, calculated as 5% of the total commitment amount minus any previous exercises, divided by the exercise price on the exercise date. The exercise price for each Warrant ADS is determined by dividing US$6,000,000 by the total number of ordinary shares on the exercise date, then multiplying by the current ADS to ordinary share ratio.
On 11 July 2024, warrants to purchase 1,100,000 ADSs with an exercise price of $0.27 per ADS were exercised along with 2/3 of the warrants Alumni Capital were entitled to (outlined in the paragraph above). Alumni capital purchased 2,578,648 ADSs for US$0.19390 per ADS as a result of that exercise.
On 28 October 2024, the Consolidated Entity had changed the ratio of its ADSs to Ordinary Shares from one (
1
) ADS representing ten (
10
) Ordinary Shares to one (1) ADS representing one hundred (
100
) Ordinary Shares. There will be no change to our underlying Ordinary Shares, and no Ordinary Shares will be issued or cancelled in connection with the ADS ratio change prior to 28 October 2024. The ratio change impacts outstanding warrants: In accordance with the underlying agreements, in the event of a share dividend or split the defined exercise price of the Warrants must be adjusted by a multiple equivalent to the consolidation ratio , similarly the number of Warrant ADSs that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable for the adjusted number of Warrant ADSs shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.
v3.25.1
Borrowings
6 Months Ended
Dec. 31, 2024
Borrowings [abstract]  
Borrowings
Note 10. Borrowings
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Insurance premium funding
     140,737        634,191  
  
 
 
    
 
 
 
Borrowings relate to the annual insurance renewal program. An offsetting prepayment of insurance invoices is included in Prepayments - See Note 6 ‘Other assets’.
v3.25.1
Employee benefits
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Employee benefits
Note 11. Employee benefits
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Annual leave
     374,385        364,933  
Superannuation payable
     4,456        —   
  
 
 
    
 
 
 
     378,841        364,933  
  
 
 
    
 
 
 
Non-current
liabilities
     
Long service leave
     35,800        35,219  
  
 
 
    
 
 
 
     414,641        400,152  
  
 
 
    
 
 
 
v3.25.1
Contingent consideration
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Contingent consideration
Note 12. Contingent consideration
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Contingent consideration - EVT801
     3,515,233        3,252,904  
  
 
 
    
 
 
 
Non-current
liabilities
     
Contingent consideration - Paxalisib
     1,354,155        1,265,654  
Contingent consideration - EVT801
     1,934,509        2,486,063  
  
 
 
    
 
 
 
     3,288,664        3,751,717  
  
 
 
    
 
 
 
     6,803,897        7,004,621  
  
 
 
    
 
 
 
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Reconciliation of the balance at the beginning and the end of the reporting period is set out below:
     
Contingent consideration at the start of period (current and
non-current)
     7,004,621        6,870,783  
Interest
     232,447        339,436  
Foreign currency loss/(gain)
     316,836        (86,131
Gain on revaluation of contingent consideration
     (750,007      (119,467
  
 
 
    
 
 
 
     6,803,897        7,004,621  
  
 
 
    
 
 
 
 
 
 
Contingent consideration - paxalisib
During the 2017 financial year, the Consolidated Entity acquired the rights to develop and commercialize paxalisib, as part of a business combination.
The acquisition contained four development contingent milestone payments, the first two milestone payment settlements being Kazia shares, and the third and fourth development milestone payment settlements either cash or Kazia shares at the discretion of Kazia. Milestones 1 and 4 have now been paid out, and Milestone 3 has lapsed. Milestone 2 comprises shares to the value of $1,250,000.
Each milestone payment is probability weighted for valuation purposes. Milestone 2 is contingent on the completion of a Phase II clinical trial of the molecule where such trial demonstrates a statistically significant improvement in progression-free survival or other approval endpoint indicated by the US Food and Drug Administration. Based on data received during June 2024, the Directors do not believe that this milestone payment will ultimately be due and payable and as such the probability weighting assigned in the current year remains nil (2024:0%).
Milestone 5 is a revenue-based milestone contingent on net sales, which the Directors expect to ultimately be achieved and has an assigned probability of 100% (2024: 100%). Milestone 5 is discounted to present value, using a discount rate of 9% (2024: 9%) per annum.
Kazia is also required to pay royalties to Genentech in relation to net sales. These payments are related to future financial performance and are not considered as part of the consideration in relation to the Genentech agreement.
Contingent consideration - EVT801
The acquisition of EVT801 has been accounted for at cost, with milestones where the payment is considered probable being recognised as a current or
non-current
liability at period end, based on the estimated payment date. The key assumptions applied on initial recognition are reassessed in the current periods based on the revised timing of when milestone payments are expected to be paid. Milestone 3 is expected to be paid in Q42025, milestones 4 & 5 are expected to be paid Q42025 and Q32027. Milestone 3 payment has a probability of 100% (2024: 100%), Milestone 4 payment has a probability of 80% (2024: 80%), and Milestone 5 payment has a probability of 49% (2024: 63%) of occurring. Milestones are discounted to present value, using a discount rate of 9% per annum (2024: 9% per annum). The discount rate utilised is based on the incremental borrowing rate at the time of acquisition and is updated to reflect recent market changes. Milestones where the payment is not considered probable at year end have not been accounted for as a liability. The total amount of milestone payments not recognised at year end totals €300,500,000 (A$503,013,057) (2024: €300,500,000 (A$486,167,287)).
v3.25.1
Deferred tax
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Deferred tax
Note 13. Deferred tax
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
liabilities
     
Deferred tax liability
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Amount expected to be settled after more than 12 months
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Movements:
     
Opening balance
     2,018,180        2,018,180  
Credited to profit or loss
     (135,546      —   
  
 
 
    
 
 
 
Closing balance
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Consolidated entity management has completed an analysis of the availability of historical tax losses to offset the deferred tax liability. Accordingly, the Consolidated entity concludes that the historical tax losses are not expected to be available for offset against the deferred tax liability.
 
v3.25.1
Contributed equity
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Contributed equity
 
Note 14. Contributed equity
 
    
Consolidated
 
    
December
2024
    
June 2024
    
December
2024
    
June 2024
 
    
Shares
    
Shares
    
$
    
$
 
Ordinary shares - fully paid
     483,523,934        332,850,784        117,457,171        101,637,758  
  
 
 
    
 
 
    
 
 
    
 
 
 
Movements in spare share capital
 
Details
  
Date
  
Shares
    
Issue price
    
$
 
Balance
   1 July 2024      332,850,784           101,637,758  
Conversion of Warrants
   1 July 2024      —       $ 0.0000        6,459,830  
Cancellation of convertible note shares
   2 July 2024      (5,916,970    $ 0.0000        (380,224
ATM issue of shares No. 37
   11 July 2024      14,400,000      $ 0.1534        2,209,677  
Alumni prefunded warrants exercised
   11 July 2024      25,786,480      $ 0.2867        739,536  
Armitice prefunded warrants exercised
   12 July 2024      11,000,000      $ 0.0398        438,571  
ATM issue of shares No. 38
   12 July 2024      5,488,230      $ 0.1444        792,915  
ATM issue of shares No. 39
   17 July 2024      4,177,340      $ 0.1075        449,260  
Alumni Equity Line of Credit
   17 July 2024      15,000,000      $ 0.0544        816,373  
ATM issue of shares No. 40
   08 August 2024      2,061,820      $ 0.0623        128,633  
ATM issue of shares No. 41
   12 August 2024      408,270      $ 0.0641        26,172  
ATM issue of shares No. 42
   13 August 2024      2,283,350      $ 0.0617        140,884  
ATM issue of shares No. 43
   14 August 2024      8,660      $ 0.0605        525  
ATM issue of shares No. 44
   27 August 2024      5,250,000      $ 0.0616        323,403  
ATM issue of shares No. 45
   28 August 2024      308,700      $ 0.0590        18,242  
ATM issue of shares No. 46
   30 August 2024      3,000,000      $ 0.0615        184,690  
ATM issue of shares No. 47
   03 September 2024      837,030      $ 0.0638        53,439  
ATM issue of shares No. 48
   12 September 2024      16,049,020      $ 0.0554        889,682  
ATM issue of shares No. 49
   13 September 2024      2,503,820      $ 0.0522        130,741  
ATM issue of shares No. 50
   22 November 2024      442,400      $ 0.0891        39,420  
ATM issue of shares No. 51
   25 November 2024      185,100      $ 0.0881        16,312  
Sale of shares of Alumni Capital
   11 December 2024      15,000,000      $ 0.0536        804,869  
ATM issue of shares
No. 52-59
  
26 Nov - 11 Dec 2024
     5,978,100      $ 0.0770        466,915  
Sale of shares to Alumni Capital
   18 December 2024      20,000,000      $ 0.0437        874,939  
ATM issue of shares No. 60
   16 December 2024      6,421,800      $ 0.0595        382,576  
Less: share issue transaction costs
        —       $ 0.0000        (187,967
     
 
 
       
 
 
 
Balance
   31 December 2024      483,523,934           117,457,171  
     
 
 
       
 
 
 
Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the Consolidated entity in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the Consolidated entity does not have a limited amount of authorised capital.
On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.
Share
buy-back
There is no current
on-market
share
buy-back.
 
 
 
Capital risk management
The Consolidated entity’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders and to maintain an optimum capital structure to reduce the cost of capital.
Capital is regarded as total equity, as recognised in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents.
The capital structure of the Consolidated entity consists of cash and cash equivalents and equity attributable to equity holders. The overall strategy of the Consolidated entity is to continue its drug development programs, which depends on raising sufficient funds, through a variety of sources including issuing of additional share capital, as may be required from time to time.
The capital risk management policy remains unchanged from the prior year.
v3.25.1
Unissued equity
6 Months Ended
Dec. 31, 2024
Unissued Equity [Abstract]  
Unissued equity
Note 15. Unissued equity
On 23 October 2023, the Company entered into a securities purchase agreement with an accredited investor, pursuant to which the Company issued a
six-month
unsecured convertible promissory note (the “Note”) in the principal amount of A$776,670 (US$500,000). The Note bears interest at a rate of 10% per annum. On 23 December 2023 the investor called upon 50% of the Note, and cash of US$253,014 was paid, which represented US$250,000 of principal and US$3,014 of interest (total payment of A$380,224). The investor exercised their option to receive the remaining 50% in ADSs on 20 December 2023, which resulted in 591,697 ADS to be issued. On 19 June 2024, 591,697 ADSs representing 5,916,970 ordinary shares were issued at a price of A$0.0643 per ordinary share. Subsequent to 30 June 2024, the investor was unable to meet their obligations for transfer of the shares and subsequent to year end the share allocation was cancelled and remains recognised as unissued equity as at 31 December 2024.
v3.25.1
Reserves
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Reserves
Note 16. Reserves
 
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Foreign currency reserve
     (575,856      (750,192
Share-based payments reserve
     4,019,099        4,224,947  
  
 
 
    
 
 
 
     3,443,243        3,474,755  
  
 
 
    
 
 
 
Foreign currency reserve
The reserve is used to recognise exchange differences arising from translation of the financial statements of foreign operations to Australian dollars.
Share-based payments reserve
The reserve is used to recognise the value of equity benefits provided to employees and directors as part of their remuneration, and other parties as part of their compensation for services.
Share based payments reserve for Employee Share Option Plan
During the half year there were no issues under the Employee Share Option Plan
v3.25.1
Dividends
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Dividends
Note 17. Dividends
There were no dividends paid, recommended or declared during the current or previous financial half-year.
 
v3.25.1
Earnings per share
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Earnings per share
Note 18. Earnings per share
 
    
Consolidated
December
2024
    
Consolidated
December
2023
 
    
$
    
$
 
Loss after income tax attributable to the owners of Kazia Therapeutics Limited
     (10,453,811      (8,823,513
  
 
 
    
 
 
 
 
    
Number
    
Number
 
Weighted average number of ordinary shares used in calculating basic earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
Weighted average number of ordinary shares used in calculating diluted earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
    
Cents
    
Cents
 
Basic earnings per share
     (2.459      (3.680
Diluted earnings per share
     (2.459      (3.680
v3.25.1
Reconciliation of loss after income tax to net cash used in operating activities
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Reconciliation of loss after income tax to net cash used in operating activities
Note 19. Reconciliation of loss after income tax to net cash used in operating activities
 
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss after income tax benefit for the half-year
     (10,453,811      (8,823,513
Adjustments for:
     
Depreciation and amortisation
     934,711        934,705  
Share-based payments
     464,387        436,465  
Foreign exchange differences
     229,356        (13,063
Fair value losses on financial assets at fair value through profit or loss
     1,999,648        (84,587
Loss on contingent consideration
     (750,007      166,696  
Contingent consideration interest
     232,447        220,484  
Change in operating assets and liabilities:
     
Decrease in trade and other receivables
     44,560        274,618  
Increase/(decrease) in GBM Agile deposit
     —         (115,213
(Decrease)/increase in prepayments
     345,311        929,125  
(Decrease)/increase in insurance premium funding
     (493,454      (1,437,200
Increase/(decrease) in trade and other payables
     (852,050      1,657,728  
Decrease in deferred tax liabilities
     (135,546      (135,546
(Decrease)/increase in employee benefits
     14,204        (345,571
  
 
 
    
 
 
 
Net cash used in operating activities
     (8,420,244      (6,334,872
  
 
 
    
 
 
 
v3.25.1
Events after the reporting period
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Events after the reporting period
Note 20. Events after the reporting period
On 14 January 2025 the company executed a direct offering with existing fundamental healthcare investor, Alumni Capital LP, of 1,333,333 of the Company’s American Depositary Shares (“ADSs”) (or ADS equivalents in lieu thereof), each ADS representing 100 ordinary shares of the Company, at a purchase price of US$1.50 per ADS (or ADS equivalent in lieu thereof) and concurrent private placement of unregistered warrants to purchase up to an aggregate of 1,333,333 ADSs. The warrants will have an exercise price of US$1.50 per ADS, will be immediately exercisable upon issuance, and will expire
five and
one-half
years
from the date of issuance.
Additionally, on 14 January 2025, Maxim (broker) received 40,000 warrants - ex price $1.50 with an expiry of 14 July 2030
Further, Alumni Capital LP received 553,440 ADSs paying US$1.50 per ADS for a total of US$830,160 and received 779,893
pre-funded
warrants with an
ex-price
of US$0.0001 paying US$1.4999 per prefunded warrant for a total of US$1,169,839.50. All 779,893 warrants were exercised on 30 January 2025. After fees of $139,999.98 were paid, the Company received US$1,859,999.52.
On 11 February 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$575,700 for 600,000 ADSs
On 31 March 2025, the Company announced the sale of all intellectual property and trademarks rights to Cantrixil for US$1 million.
On 1 April 2025, Kazia announced that it planned to affect an ADS ratio change to change the ratio of ADSs to ordinary shares from one ADS to one hundred ordinary shares to the new ratio of one ADS to five hundred ordinary shares. The ADS ratio change will have the same effect as a
one-for-five
reverse ADS split for Kazia’s ADS holders. There will be no change to Kazia’s underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS ratio change. The ADS ratio change became effective on 17 April 2025.
On 12 May 2025, the company executed a pull down against the existing ELOC agreement with Alumni Capital LP, in the amount of US$91,770 for 30,000 ADSs.
On 12 May 2025, the Company received a notification (the Notification) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (Nasdaq) notifying the Company that from 28 March 2025 to 9 May 2025, the Company’s Market Value of Listed Securities (MVLS) was below the minimum of $35 million. The Notification has no immediate impact on the Company’s operations or listing and Kazia’s American Depositary Shares (ADSs) will continue to trade on the Nasdaq Capital Market under the ticker “KZIA”. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days to regain compliance with the MVLS Requirement.
No other matter or circumstance has arisen since 31 December 2024 that has significantly affected, or may significantly affect the Consolidated entity’s operations, the results of those operations, or the Consolidated entity’s state of affairs in future financial years.
v3.25.1
Material accounting policy information (Policies)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Classification and measurement of other financial liabilities
Classification and initial measurement of financial assets
The Consolidated entity’s other financial liabilities comprise derivatives in respect of prefunded and ordinary warrants. Prefunded and ordinary warrants are measured at fair value through profit or loss. All transactions costs in relation to the warrants are expensed immediately. Changes to the fair value of the instruments post issue will be recognised in profit or loss.
New or amended Accounting Standards and Interpretations adopted
New or amended Accounting Standards and Interpretations adopted
The Consolidated entity has adopted all of the new, revised or amending Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (AASB) that are mandatory for the current reporting period. Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the Consolidated entity.
Going concern
Going concern
The half-year financial report has been prepared on a going concern basis, which assumes continuity of normal activities and the realisation of assets and the settlement of liabilities in the ordinary course of business. For the period ended 31 December 2024 the Consolidated Entity incurred a loss after income tax of $10,453,811 (31 December 2023: $8,823,513), was in a net current liability position of $ 13,105,757 (30 June 2024: $19,652,664) and had net cash outflows from operating activities of $8,420,244 (31 December 2023: $6,334,872) for the half-year ended 31 December 2024.
As is often the case with drug development companies, the Company has not generated significant revenues nor does the Company anticipate generating significant revenues in the near future. The ability of the Consolidated Entity to continue its development activities as a going concern is dependent upon it deriving sufficient cash from investors, from licensing and partnering activities, and from other sources of revenue such as grant funding.
The events and conditions noted above give rise to the existence of a material uncertainty that may cast significant doubt about the Consolidated entity’s ability to continue as a going concern and, therefore, the Consolidated entity may be unable to realise its assets and discharge its liabilities in the normal course of business.
The Directors note the following with regards to the ability of the Consolidated entity to continue as a going concern:
 
   
The
at-the-market’
equity program (“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 operations with minimal dilution to existing shareholders. An ATM with Oppenheimer & Co. Inc. (Oppenheimer) as sales agent was established in May 2022. Under the ATM, Kazia may offer and sell via Oppenheimer, in the form of American Depository Shares (ADSs), with each ADS representing 100 ordinary shares as at 31 December 2024. Subsequent to 31 December 2024 each ADS represents 500 ordinary shares. Further information in relation to this change is detailed in the ‘Matters subsequent to the end of the financial half-year’ and Note 20 of these financial statements. Kazia entered into an Equity Distribution Agreement, dated as of 22 April 2022 (the “Sales Agreement”), with Oppenheimer, acting as sales agent for an initial capacity of US$35 million. On 4 September 2024, the Equity Distribution Agreement was amended to increase the aggregate offering price to US$50 million. From July through December 2024, the Consolidated Entity raised total proceeds of US$4,190,155 using the ATM facility, the remaining capacity of US$36.9 million of its ordinary shares.
 
   
The Consolidated Entity also raised total proceeds of A$2,496,182 through its equity line of credit facility during the period, the remaining capacity on the equity line of credit is US$12,888,123.
 
   
On 30 March 2025 the Consolidated entity generated US$1,000,000 on the sale of cantrixil patents and trademarks.
The directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore additional funding sources in both Australia and overseas including grant funding, licensing opportunities and equity investment opportunities in the Company
Accordingly, the directors have prepared the consolidated financial statements on a going concern basis. Should the above circumstances not eventuate the entity may be unable to realise its assets and discharge it liabilities in the normal course of business and at the amounts stated in these consolidated financial statements.
 
v3.25.1
Expenses (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of expenses
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss before income tax includes the following specific expenses:
     
Amortisation
     
Amortisation
     934,710        934,705  
  
 
 
    
 
 
 
Interest expense
     
Borrowings
     10,033        39,257  
Contingent consideration - Effective interest
     223,035        220,484  
  
 
 
    
 
 
 
     233,068        259,741  
  
 
 
    
 
 
 
Superannuation expense
     
Defined contribution superannuation expense
     26,738        48,730  
  
 
 
    
 
 
 
Employee benefits expense excluding superannuation
     
Employee benefits expense excluding superannuation
     1,138,052        1,793,896  
  
 
 
    
 
 
 
v3.25.1
Cash and cash equivalents (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of cash and cash equivalents
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Cash at bank and on hand
     3,064,308        1,657,478  
  
 
 
    
 
 
 
v3.25.1
Trade and other receivables (Tables)
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Summary of current assets - trade and other receivables
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
GBM Agile deposit
     —         3,756,039  
Deposits held
     7,687        7,687  
BAS receivable
     88,445        133,003  
  
 
 
    
 
 
 
     96,132        3,896,729  
  
 
 
    
 
 
 
v3.25.1
Other Assets (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of current assets - other
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current assets
     
Prepayments
     246,248        591,162  
  
 
 
    
 
 
 
v3.25.1
Intangibles (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of non-current assets - intangibles
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
assets
     
Licensing agreement - Paxalisib
     16,407,788        16,407,788  
Less: Accumulated amortisation
     (8,877,247      (8,335,073
  
 
 
    
 
 
 
     7,530,541        8,072,715  
  
 
 
    
 
 
 
Licensing agreement -
EVT-801
     9,813,362        9,813,362  
Less: Accumulated amortisation
     (2,878,591      (2,486,054
  
 
 
    
 
 
 
     6,934,771        7,327,308  
  
 
 
    
 
 
 
     14,465,312        15,400,023  
  
 
 
    
 
 
 
Summary of reconciliations of intangibles
Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below:
 
    
EVT801
licensing
agreement
    
Paxalisib
licensing
agreement
     Total  
Consolidated
   $      $      $  
Balance at 1 July 2024
     7,327,308        8,072,715        15,400,023  
Amortisation expense
     (392,538      (542,173      (934,711
  
 
 
    
 
 
    
 
 
 
Balance at 31 December 2024
     6,934,770        7,530,542        14,465,312  
  
 
 
    
 
 
    
 
 
 
v3.25.1
Trade and other payables (Tables)
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Summary of trade and other payables
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Trade payables
     6,331,896        4,548,255  
Accrued and other payables
     4,127,860        10,519,690  
  
 
 
    
 
 
 
     10,459,756        15,067,945  
  
 
 
    
 
 
 
v3.25.1
Other financial liabilities (Tables)
6 Months Ended
Dec. 31, 2024
Other Financial Liabilities Current [Abstract]  
Summary of other financial liabilities
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Prefunded and ordinary warrants
     2,017,878        6,478,060  
  
 
 
    
 
 
 
Reconciliation
     
Reconciliation of the written down values at the beginning and end of the current and previous financial half-year are set out below:
     
Opening balance
     6,478,060        —   
Prefunded and ordinary warrants at initial recognition
     —         8,599,836  
Prefunded warrants exercised
     (6,459,830      (864,930
Gain on remeasurement of other financial liabilities
     1,999,648        (1,256,846
  
 
 
    
 
 
 
Closing balance
     2,017,878        6,478,060  
  
 
 
    
 
 
 
v3.25.1
Borrowings (Tables)
6 Months Ended
Dec. 31, 2024
Borrowings [abstract]  
Disclosure of detailed information about borrowings [text block]
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Insurance premium funding
     140,737        634,191  
  
 
 
    
 
 
 
v3.25.1
Employee benefits (Tables)
6 Months Ended
Dec. 31, 2024
Statement [line items]  
Summary of provisions
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Current liabilities
     
Annual leave
     374,385        364,933  
Superannuation payable
     4,456        —   
  
 
 
    
 
 
 
     378,841        364,933  
  
 
 
    
 
 
 
Non-current
liabilities
     
Long service leave
     35,800        35,219  
  
 
 
    
 
 
 
     414,641        400,152  
  
 
 
    
 
 
 
v3.25.1
Deferred tax (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of deferred taxes liability
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Non-current
liabilities
     
Deferred tax liability
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Amount expected to be settled after more than 12 months
     1,882,634        2,018,180  
  
 
 
    
 
 
 
Movements:
     
Opening balance
     2,018,180        2,018,180  
Credited to profit or loss
     (135,546      —   
  
 
 
    
 
 
 
Closing balance
     1,882,634        2,018,180  
  
 
 
    
 
 
 
v3.25.1
Contributed equity (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of equity - contributed equity
    
Consolidated
 
    
December
2024
    
June 2024
    
December
2024
    
June 2024
 
    
Shares
    
Shares
    
$
    
$
 
Ordinary shares - fully paid
     483,523,934        332,850,784        117,457,171        101,637,758  
  
 
 
    
 
 
    
 
 
    
 
 
 
v3.25.1
Reserves (Tables)
6 Months Ended
Dec. 31, 2024
Disclosure of reserves within equity [abstract]  
Summary of tabular form of other reserves
    
Consolidated
 
    
December
2024
    
June 2024
 
    
$
    
$
 
Foreign currency reserve
     (575,856      (750,192
Share-based payments reserve
     4,019,099        4,224,947  
  
 
 
    
 
 
 
     3,443,243        3,474,755  
  
 
 
    
 
 
 
v3.25.1
Earnings per share (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Summary of earnings per share
    
Consolidated
December
2024
    
Consolidated
December
2023
 
    
$
    
$
 
Loss after income tax attributable to the owners of Kazia Therapeutics Limited
     (10,453,811      (8,823,513
  
 
 
    
 
 
 
 
    
Number
    
Number
 
Weighted average number of ordinary shares used in calculating basic earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
Weighted average number of ordinary shares used in calculating diluted earnings per share
     425,157,427        239,779,384  
  
 
 
    
 
 
 
    
Cents
    
Cents
 
Basic earnings per share
     (2.459      (3.680
Diluted earnings per share
     (2.459      (3.680
v3.25.1
Reconciliation of loss after income tax to net cash used in operating activities (Tables)
6 Months Ended
Dec. 31, 2024
Text block [abstract]  
Disclosure of reconciliation of profit or loss to operating cash flows
    
Consolidated
 
    
December
2024
    
December
2023
 
    
$
    
$
 
Loss after income tax benefit for the half-year
     (10,453,811      (8,823,513
Adjustments for:
     
Depreciation and amortisation
     934,711        934,705  
Share-based payments
     464,387        436,465  
Foreign exchange differences
     229,356        (13,063
Fair value losses on financial assets at fair value through profit or loss
     1,999,648        (84,587
Loss on contingent consideration
     (750,007      166,696  
Contingent consideration interest
     232,447        220,484  
Change in operating assets and liabilities:
     
Decrease in trade and other receivables
     44,560        274,618  
Increase/(decrease) in GBM Agile deposit
     —         (115,213
(Decrease)/increase in prepayments
     345,311        929,125  
(Decrease)/increase in insurance premium funding
     (493,454      (1,437,200
Increase/(decrease) in trade and other payables
     (852,050      1,657,728  
Decrease in deferred tax liabilities
     (135,546      (135,546
(Decrease)/increase in employee benefits
     14,204        (345,571
  
 
 
    
 
 
 
Net cash used in operating activities
     (8,420,244      (6,334,872
  
 
 
    
 
 
 
v3.25.1
Material accounting policy information - Additional Information (Detail)
6 Months Ended
Dec. 31, 2024
AUD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
AUD ($)
Dec. 31, 2022
AUD ($)
Mar. 30, 2025
USD ($)
Jun. 30, 2024
AUD ($)
May 01, 2022
AUD ($)
Disclosure of summary of significant accounting policies [line items]              
Consolidated loss after income tax $ 10,453,811   $ 8,823,513 $ 8,823,513      
Net current liability position 13,105,757         $ 19,652,664  
Net cash outflows from operating activities 8,420,244     $ 6,334,872      
Proceeds from issuing shares $ 8,561,589   $ 1,327,468        
At The Market Equity Program [Member]              
Disclosure of summary of significant accounting policies [line items]              
Aggregate offering             $ 35,000,000
Number of shares represented by one depositary receipt 100            
Proceeds from issuing shares   $ 4,190,155          
Proceeds from issue of ordinary shares   36,900,000          
Events After Reporting Period [Member]              
Disclosure of summary of significant accounting policies [line items]              
Number of shares represented by one depositary receipt 500            
Consolidated entity generated on the sale of cantrixil patents and trademarks         $ 1,000,000    
Major Ordinary Share Transactions [Member] | At The Market Equity Program [Member]              
Disclosure of summary of significant accounting policies [line items]              
Proceeds from issue of ordinary shares $ 2,496,182 $ 12,888,123          
v3.25.1
Expenses - Summary of expenses (Detail) - AUD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Disclosure of expenses by nature [line items]    
Amortisation $ 934,710 $ 934,705
Interest expense    
Borrowings 10,033 39,257
Contingent consideration – Effective Interest 223,035 220,484
Interest expense 233,068 259,741
Superannuation expense    
Defined contribution superannuation expense 26,738 48,730
Employee benefits expense excluding superannuation    
Employee benefits expense excluding superannuation $ 1,138,052 $ 1,793,896
v3.25.1
Cash and cash equivalents - Summary of Cash and Cash Equivalents (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Cash and cash equivalents [abstract]    
Cash at bank and on hand $ 3,064,308 $ 1,657,478
v3.25.1
Trade and other receivables - Summary of current assets - trade and other receivables (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of financial assets [line items]    
GBM Agile deposit $ 0 $ 3,756,039
Trade and other receivables 96,132 3,896,729
Deposits held [member]    
Disclosure of financial assets [line items]    
Other current receivables 7,687 7,687
BAS receivables [member]    
Disclosure of financial assets [line items]    
Other current receivables $ 88,445 $ 133,003
v3.25.1
Other assets - Summary of current assets - other (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Statement of financial position [abstract]    
Prepayments $ 246,248 $ 591,162
v3.25.1
Intangibles - Summary of non-current assets - intangibles (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of detailed information about intangible assets [line items]    
Intangibles $ 14,465,312 $ 15,400,023
GDC licensing agreement [member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles 7,530,541 8,072,715
GDC licensing agreement [member] | Gross carrying amount [member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles 16,407,788 16,407,788
GDC licensing agreement [member] | Accumulated amortisation [member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles (8,877,247) (8,335,073)
Licensing Agreement [Member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles 6,934,771 7,327,308
Licensing Agreement [Member] | Gross carrying amount [member] | At cost [member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles 9,813,362 9,813,362
Licensing Agreement [Member] | Accumulated amortisation [member]    
Disclosure of detailed information about intangible assets [line items]    
Intangibles $ (2,878,591) $ (2,486,054)
v3.25.1
Intangibles - Summary of reconciliations of intangibles (Detail)
6 Months Ended
Dec. 31, 2024
AUD ($)
Disclosure of detailed information about intangible assets [line items]  
Beginning balance $ 15,400,023
Amortisation expense (934,711)
Ending balance 14,465,312
Paxalisib licensing agreement [member]  
Disclosure of detailed information about intangible assets [line items]  
Beginning balance 8,072,715
Amortisation expense (542,173)
Ending balance 7,530,542
EVT801 licensing agreement [Member]  
Disclosure of detailed information about intangible assets [line items]  
Beginning balance 7,327,308
Amortisation expense (392,538)
Ending balance $ 6,934,770
v3.25.1
Trade and other payables - Summary of current liabilities - trade and other payables (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Trade and other payables [abstract]    
Trade payables $ 6,331,896 $ 4,548,255
Accrued And Other Payables 4,127,860 10,519,690
Total trade and other payables $ 10,459,756 $ 15,067,945
v3.25.1
Other financial liabilities - Additional Information (Detail)
Oct. 28, 2024
May 17, 2024
$ / shares
Nov. 30, 2023
AUD ($)
Dec. 31, 2024
AUD ($)
Jul. 11, 2024
shares
$ / shares
Nov. 30, 2023
$ / shares
Nov. 30, 2023
AUD ($)
shares
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Exercise price | $ / shares           $ 0.583  
Fair Value Warrants Issued | $       $ 5,445,887      
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares           $ 0.583  
Rate of consideration for purchasing warrants       5.00%      
Amount for determining exercise price of warrants | $       $ 6,000,000      
Description of transactions after reporting period that significantly change number of ordinary shares outstanding the Consolidated Entity had changed the ratio of its ADSs to Ordinary Shares from one (1) ADS representing ten (10) Ordinary Shares to one (1) ADS representing one hundred (100) Ordinary Shares. There will be no change to our underlying Ordinary Shares, and no Ordinary Shares will be issued or cancelled in connection with the ADS ratio change prior to 28 October 2024.            
Securities Purchase Agreement [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Fair Value Warrants Issued | $             $ 132,763
Transaction cost incurred for issue of warrants | $     $ 382,463        
Prefunded Warrants [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Number of other equity instruments exercisable | shares             1,824,445
Number of other equity instruments exercisable in share-based payment arrangement | shares             1,824,445
Ordinary Warrants [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Number of other equity instruments exercisable | shares             4,444,445
Number of other equity instruments exercisable in share-based payment arrangement | shares             4,444,445
Ordinary Warrants [Member] | Securities Purchase Agreement [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Financial liabilities, at fair value | $             $ 3,020,316
American Depositary Shares [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Number of shares issued | shares             2,620,000
Number of other equity instruments exercisable   1,100,000          
Exercise price | $ / shares   $ 0.27          
Number of other equity instruments exercisable in share-based payment arrangement   1,100,000          
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares   $ 0.27          
Decrease exercise price of warrant | $ / shares   $ 0.27          
New American Depositary Shares [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Number of other equity instruments exercisable | shares         1,100,000    
Exercise price | $ / shares         $ 0.27    
Number of other equity instruments exercisable in share-based payment arrangement | shares         1,100,000    
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares         $ 0.27    
Warrants Alumini Capital American Depositary Shares [Member]              
Disclosure of Changes in Other Financial Liabilities Current [Line Items]              
Number of other equity instruments exercisable | shares         2,578,648    
Exercise price | $ / shares         $ 0.1939    
Number of other equity instruments exercisable in share-based payment arrangement | shares         2,578,648    
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares         $ 0.1939    
v3.25.1
Other financial liabilities - Summary of other financial liabilities (Detail) - AUD ($)
6 Months Ended
Dec. 31, 2024
Jun. 30, 2024
Jul. 01, 2024
Dec. 31, 2023
Other Financial Liabilities Current [Abstract]        
Other current financial liabilities $ 2,017,878 $ 6,478,060 $ 0 $ 8,599,836
Other current financial liabilities reconciliation opening balance     $ 6,478,060 $ 0
Exercise of pre funded warrants (6,459,830) (864,930)    
Gain loss on remeasurement of other financial liability $ 1,999,648 $ (1,256,846)    
v3.25.1
Borrowings - Schedule of borrowings (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of detailed information about borrowings [line items]    
Current borrowings $ 140,737 $ 634,191
Insurance Premium Funding [Member]    
Disclosure of detailed information about borrowings [line items]    
Current borrowings $ 140,737 $ 634,191
v3.25.1
Employee benefits - Summary of provision (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of defined benefit plans [abstract]    
Annual leave $ 374,385 $ 364,933
Superannuation payable 4,456  
Employee benefits 378,841 364,933
Long service leave 35,800 35,219
Provisions for employee benefits $ 414,641 $ 400,152
v3.25.1
Contingent consideration 1 - Summary of liabilities - contingent consideration (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Disclosure of contingent liabilities [line items]      
Contingent consideration, current $ 3,515,233 $ 3,252,904  
Contingent consideration, non-current 3,288,664 3,751,717  
Contingent consideration 6,803,897 7,004,621 $ 6,870,783
Contingent consideration — Paxalisib [Member]      
Disclosure of contingent liabilities [line items]      
Contingent consideration, non-current 1,354,155 1,265,654  
Contingent consideration — EVT801 [Member]      
Disclosure of contingent liabilities [line items]      
Contingent consideration, current 3,515,233 3,252,904  
Contingent consideration, non-current $ 1,934,509 $ 2,486,063  
v3.25.1
Contingent consideration 1 - Summary of reconciliation of contingent consideration (Detail) - AUD ($)
6 Months Ended
Dec. 31, 2024
Jun. 30, 2024
Disclosure In Tabular Form Of Changes In Contingent Consideration During The Period [Line Items]    
Contingent Consideration $ 7,004,621 $ 6,870,783
Interest 232,447 339,436
Foreign currency (gain)/loss 316,836 (86,131)
Gain on revaluation of contingent consideration (750,007) (119,467)
Contingent Consideration $ 6,803,897 $ 7,004,621
v3.25.1
Contingent consideration 1 - Additional Information (Detail)
6 Months Ended 12 Months Ended
Dec. 31, 2024
AUD ($)
Dec. 31, 2024
EUR (€)
Jun. 30, 2024
AUD ($)
Jun. 30, 2024
EUR (€)
Disclosure of contingent liabilities [line items]        
Milestone payments not booked $ 503,013,057 € 300,500,000 $ 486,167,287 € 300,500,000
Milestone Two [member]        
Disclosure of contingent liabilities [line items]        
Contingent consideration $ 1,250,000      
Paxalisib [Member]        
Disclosure of contingent liabilities [line items]        
Percentage of milestone payment due and payable 0.00% 0.00%
Paxalisib [Member] | Milestone Five [member]        
Disclosure of contingent liabilities [line items]        
Milestone payment discount rate 9.00% 9.00% 9.00% 9.00%
Probability of milestone payments 100.00% 100.00% 100.00% 100.00%
Contingent consideration – EVT801 [Member]        
Disclosure of contingent liabilities [line items]        
Percentage of discount rate on milestone payments 9.00% 9.00% 9.00% 9.00%
Contingent consideration – EVT801 [Member] | Milestone Three [Member]        
Disclosure of contingent liabilities [line items]        
Probability of milestone payments 100.00% 100.00% 100.00% 100.00%
Contingent consideration – EVT801 [Member] | Milestone Four [member]        
Disclosure of contingent liabilities [line items]        
Probability of milestone payments 80.00% 80.00% 80.00% 80.00%
Contingent consideration – EVT801 [Member] | Milestone Five [member]        
Disclosure of contingent liabilities [line items]        
Probability of milestone payments 49.00% 49.00% 63.00% 63.00%
v3.25.1
Deferred tax - Summary of deferred taxes liability (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Deferred tax assets and liabilities [abstract]    
Amount expected to be settled after more than 12 months $ 1,882,634 $ 2,018,180
Credited to profit or loss $ (135,546) $ 0
v3.25.1
Contributed equity - Summary of equity - contributed equity (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of classes of share capital [abstract]    
Ordinary shares — fully paid, shares 483,523,934 332,850,784
Ordinary shares — fully paid $ 117,457,171 $ 101,637,758
v3.25.1
Contributed equity - Summary of movements in ordinary share capital (Detail)
6 Months Ended
Dec. 31, 2024
AUD ($)
shares
Dec. 31, 2024
$ / shares
Dec. 31, 2023
AUD ($)
Disclosure of classes of share capital [line items]      
Beginning Balance $ (10,017,757)   $ 12,050,551
Issue of shares 16,387,602   1,648,187
Ending balance $ (3,807,543)   5,267,508
Contributed equity [member]      
Disclosure of classes of share capital [line items]      
Ending Balance | shares 483,523,934    
Beginning Balance $ 101,637,758   97,452,246
Issue of shares 16,387,602   1,648,187
Ending balance $ 117,457,171   $ 98,779,714
Contributed equity [member] | 1 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Beginning Balance | shares 332,850,784    
Beginning Balance $ 101,637,758    
Conversion of Warrants [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   $ 0  
Conversion of Warrants [Member] | Contributed equity [member]      
Disclosure of classes of share capital [line items]      
Issue of shares $ 6,459,830    
Cancellation of convertible note shares [Member] | 2 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0  
Cancellation of convertible note shares [Member] | Contributed equity [member] | 2 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares (5,916,970)    
Issue of shares $ (380,224)    
ATM issue of shares No. 37 [Member] | 11 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.1534  
ATM issue of shares No. 37 [Member] | Contributed equity [member] | 11 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 14,400,000    
Issue of shares $ 2,209,677    
Alumni prefunded warrants exercised [Member] | 11 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.2867  
Alumni prefunded warrants exercised [Member] | Contributed equity [member] | 11 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 25,786,480    
Issue of shares $ 739,536    
Armitice prefunded warrants exercised [Member] | 12 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0398  
Armitice prefunded warrants exercised [Member] | Contributed equity [member] | 12 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 11,000,000    
Issue of shares $ 438,571    
ATM issue of shares No. 38 [Member] | 12 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.1444  
ATM issue of shares No. 38 [Member] | Contributed equity [member] | 12 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 5,488,230    
Issue of shares $ 792,915    
ATM issue of shares No. 39 [Member] | 17 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.1075  
ATM issue of shares No. 39 [Member] | Contributed equity [member] | 17 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 4,177,340    
Issue of shares $ 449,260    
Alumni Equity Line of Credit [Member] | 17 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0544  
Alumni Equity Line of Credit [Member] | Contributed equity [member] | 17 July 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 15,000,000    
Issue of shares $ 816,373    
ATM issue of shares No. 40 [Member] | 08 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0623  
ATM issue of shares No. 40 [Member] | Contributed equity [member] | 08 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 2,061,820    
Issue of shares $ 128,633    
ATM issue of shares No. 41 [Member] | 12 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0641  
ATM issue of shares No. 41 [Member] | Contributed equity [member] | 12 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 408,270    
Issue of shares $ 26,172    
ATM issue of shares No. 42 [Member] | 13 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0617  
ATM issue of shares No. 42 [Member] | Contributed equity [member] | 13 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 2,283,350    
Issue of shares $ 140,884    
ATM issue of shares No. 43 [Member] | 14 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0605  
ATM issue of shares No. 43 [Member] | Contributed equity [member] | 14 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 8,660    
Issue of shares $ 525    
ATM issue of shares No. 44 [Member] | 27 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0616  
ATM issue of shares No. 44 [Member] | Contributed equity [member] | 27 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 5,250,000    
Issue of shares $ 323,403    
ATM issue of shares No. 45 [Member] | 28 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.059  
ATM issue of shares No. 45 [Member] | Contributed equity [member] | 28 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 308,700    
Issue of shares $ 18,242    
ATM issue of shares No. 46 [Member] | 30 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0615  
ATM issue of shares No. 46 [Member] | Contributed equity [member] | 30 August 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 3,000,000    
Issue of shares $ 184,690    
ATM issue of shares No. 47 [Member] | 03 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0638  
ATM issue of shares No. 47 [Member] | Contributed equity [member] | 03 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 837,030    
Issue of shares $ 53,439    
ATM issue of shares No. 48 [Member] | 12 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0554  
ATM issue of shares No. 48 [Member] | Contributed equity [member] | 12 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 16,049,020    
Issue of shares $ 889,682    
ATM issue of shares No. 49 [Member] | 13 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0522  
ATM issue of shares No. 49 [Member] | Contributed equity [member] | 13 September 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 2,503,820    
Issue of shares $ 130,741    
ATM issue of shares No. 50 [Member] | 22 November 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0891  
ATM issue of shares No. 50 [Member] | Contributed equity [member] | 22 November 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 442,400    
Issue of shares $ 39,420    
ATM issue of shares No. 51 [Member] | 25 November 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0881  
ATM issue of shares No. 51 [Member] | Contributed equity [member] | 25 November 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 185,100    
Issue of shares $ 16,312    
Sale of shares of Alumni Capital [Member] | 11 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0536  
Sale of shares of Alumni Capital [Member] | Contributed equity [member] | 11 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 15,000,000    
Issue of shares $ 804,869    
ATM issue of shares No. 52-59 [Member] | 26 Nov - 11 Dec 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.077  
ATM issue of shares No. 52-59 [Member] | Contributed equity [member] | 26 Nov - 11 Dec 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 5,978,100    
Issue of shares $ 466,915    
Sale of shares to Alumni Capital [Member] | 18 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0437  
Sale of shares to Alumni Capital [Member] | Contributed equity [member] | 18 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 20,000,000    
Issue of shares $ 874,939    
ATM issue of shares No. 60 [Member] | 16 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   0.0595  
ATM issue of shares No. 60 [Member] | Contributed equity [member] | 16 December 2024 [Member]      
Disclosure of classes of share capital [line items]      
Increase (decrease) in shares outstanding | shares 6,421,800    
Issue of shares $ 382,576    
Less: share issue transaction costs [member]      
Disclosure of classes of share capital [line items]      
Issue price | $ / shares   $ 0  
Less: share issue transaction costs [member] | Contributed equity [member]      
Disclosure of classes of share capital [line items]      
Issue of shares $ (187,967)    
v3.25.1
Unissued equity - Additional Information (Detail)
6 Months Ended
Dec. 23, 2023
AUD ($)
shares
Dec. 31, 2024
AUD ($)
Dec. 31, 2023
AUD ($)
Jun. 19, 2024
$ / shares
shares
Dec. 23, 2023
USD ($)
shares
Nov. 30, 2023
shares
Oct. 23, 2023
AUD ($)
Oct. 23, 2023
USD ($)
Disclosure of unissued equity [line items]                
Interest expense on borrowings | $   $ 10,033 $ 39,257          
Unsecured convertible promissory note [member]                
Disclosure of unissued equity [line items]                
Notional amount $ 380,224       $ 250,000   $ 776,670 $ 500,000
Borrowings, interest rate             10.00% 10.00%
Percentage of borrowings that are called up for equity instrument 50.00%              
Interest expense on borrowings | $ $ 3,014              
Cash Paid | $         $ 253,014      
American depositary shares [member]                
Disclosure of unissued equity [line items]                
Number of shares issued | shares           2,620,000    
American depositary shares [member] | Unsecured convertible promissory note [member]                
Disclosure of unissued equity [line items]                
Number of shares issued | shares 591,697     591,697 591,697      
Ordinary shares [member] | Unsecured convertible promissory note [member]                
Disclosure of unissued equity [line items]                
Number of shares issued | shares       5,916,970        
Price per share | $ / shares       $ 0.0643        
v3.25.1
Reserves - Summary of tabular form of other reserves (Detail) - AUD ($)
Dec. 31, 2024
Jun. 30, 2024
Disclosure of reserves within equity [abstract]    
Foreign currency reserve $ (575,856) $ (750,192)
Share-based payments reserve 4,019,099 4,224,947
Other reserves $ 3,443,243 $ 3,474,755
v3.25.1
Reserves - Additional Information (Detail)
6 Months Ended
Dec. 31, 2024
shares
Disclosure of reserves within equity [abstract]  
Number of options issued to employees 0
v3.25.1
Dividends - Additional Information (Detail)
6 Months Ended
Dec. 31, 2024
AUD ($)
Statement of changes in equity [abstract]  
Dividends paid $ 0
v3.25.1
Earnings per share - Summary of earnings per share (Detail) - AUD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings per share [abstract]      
Loss after income tax attributable to the owners of Kazia Therapeutics Limited $ (10,453,811) $ (8,823,513) $ (8,823,513)
Weighted average number of ordinary shares used in calculating basic earnings per share 425,157,427   239,779,384
Weighted average number of ordinary shares used in calculating diluted earnings per share 425,157,427   239,779,384
Basic earnings per share $ (0.02459)   $ (0.0368)
Diluted earnings per share $ (0.02459)   $ (0.0368)
v3.25.1
Reconciliation of loss after income tax to net cash used in operating activities - Disclosure of reconciliation of profit or loss to operating cash flows (Detail) - AUD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of reconciliation of profit or loss to operating cash flows [Line Items]      
Loss after income tax benefit for the half-year $ (10,453,811) $ (8,823,513) $ (8,823,513)
Adjustments for:      
Depreciation and amortisation 934,711 934,705  
Share-based payments 464,387 436,465  
Foreign exchange differences 229,356 (13,063)  
Fair value losses on financial assets at fair value through profit or loss 1,999,648 (84,587)  
Loss on contingent consideration (750,007) 166,696  
Contingent consideration interest 232,447 220,484  
Change in operating assets and liabilities:      
Decrease in trade and other receivables 44,560 274,618  
Increase/(decrease) in GBM Agile deposit 0 (115,213)  
(Decrease)/increase in prepayments 345,311 929,125  
(Decrease)/increase in insurance premium funding (493,454) (1,437,200)  
Increase/(decrease) in trade and other payables (852,050) 1,657,728  
Decrease in deferred tax liabilities (135,546) (135,546)  
(Decrease)/increase in employee benefits 14,204 (345,571)  
Net cash used in operating activities $ (8,420,244) $ (6,334,872)  
v3.25.1
Events after the reporting period - Additional Information (Detail)
1 Months Ended
Mar. 31, 2025
AUD ($)
Jan. 30, 2025
AUD ($)
shares
Jan. 14, 2025
$ / shares
shares
May 09, 2025
AUD ($)
May 12, 2025
AUD ($)
shares
Apr. 01, 2025
Feb. 11, 2025
AUD ($)
shares
Jan. 14, 2025
AUD ($)
shares
Jul. 11, 2024
shares
$ / shares
May 17, 2024
$ / shares
Nov. 30, 2023
$ / shares
Disclosure of non-adjusting events after reporting period [line items]                      
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares                     $ 0.583
Abnormally Large Changes In Listing Qualification [Member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Minimum threshold limit of market value       $ 35,000,000              
American Depositary Shares [Member] | Major ordinary share transactions [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of shares represented by one depositary receipt           500          
Warrants Alumini Capital American Depositary Shares [Member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of other equity instruments exercisable in share-based payment arrangement | shares                 2,578,648    
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares                 $ 0.1939    
Warrants Alumini Capital American Depositary Shares [Member] | Major ordinary share transactions [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of other equity instruments exercisable in share-based payment arrangement | shares               1,333,333      
Number of shares represented by one depositary receipt               100      
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares     $ 1.5                
Expiry period of grant of share based payment arrangement     5.1                
American Depositary Shares [Member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of other equity instruments exercisable in share-based payment arrangement                   1,100,000  
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ / shares                   $ 0.27  
Maxim Broker [Member] | Warrants Alumini Capital American Depositary Shares [Member] | Major ordinary share transactions [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of warrants issued | shares     40,000                
Weighted average exercise price of warrants issued               1.50%      
Expire date of grant of share based payment arrangement     Jul. 14, 2030                
Alumni Capital LP [Member] | Warrants Alumini Capital American Depositary Shares [Member] | Major ordinary share transactions [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of warrants issued | shares     553,440                
Weighted average exercise price of warrants issued               1.50%      
Value of equity settled share based payment               $ 830,160      
Expense from equity-settled share-based payment transactions   $ 139,999.98                  
Value of equity settled share based payment after expenses   $ 1,859,999.52                  
Alumni Capital LP [Member] | American Depositary Shares [Member] | Entering into significant commitments or contingent liabilities [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Value of pull down against existing ELOC agreement         $ 91,770   $ 575,700        
Equity instruments pull down against existing ELOC agreement | shares         30,000   600,000        
Alumni Capital LP [Member] | Pre Fund Warrants [Member] | Major ordinary share transactions [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Number of warrants issued | shares   779,893                  
Weighted average exercise price of warrants issued               1.4999%      
Value of equity settled share based payment               $ 1,169,839.5      
Exercise price of warrants issued | $ / shares     $ 0.0001                
Cantrixil [Member] | Intellectual property and trademarks rights [Member] | Other disposals of assets [member]                      
Disclosure of non-adjusting events after reporting period [line items]                      
Disposals, intangible assets and goodwill $ 1                    

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