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At this stage, none of our clinical trials are materially affected. We have needed to make some adaptations and accommodations at specific sites, but we are confident at this stage that there is no impact to patient safety or data integrity. We remain in very close contact with all our partners and continue to actively monitor the situation.
Both are phase I study of Cantrixil and our phase II study of paxalisib are fully recruited. For the ongoing investigator-initiated studies of paxalisib, we will defer to institutional practice at each site. For GBM AGILE, we will discuss the most appropriate approach with GCAR.
To date, we have not observed any material impact from COVID-19 across our business. As a pre-revenue company, Kazia is somewhat insulated from much of the immediate economic impact - our first priority is to ensure that patients in our clinical trials continue to be fully supported.
We will be ready to adapt and adjust as required, with a focus on our own staff as well as our partners to ensure we remain well placed to operate successfully through this period.
At this stage, we are fully focused on our current clinical trial programmes for paxalisib and Cantrixil. While there is some early-stage evidence that the PI3K pathway (which is targeted by paxalisib / GDC-0084) may have a role to play in coronavirus infections, we do not intend to divert focus from our core work in oncology at present.
We have proactively implemented preparedness measures, such as working from home, and we remain in very close contact with all our partners to ensure that our clinical trial programmes operate as smoothly as possible.
In early April, Kazia completed an institutional placement to raise approximately A$7.2 million (exclusive of costs) and will conduct a Share Purchase Plan (SPP) from April 20 to allow eligible existing holders the opportunity to acquire new shares at the same price. As at end FY19, the Company had $6.4m cash at bank. As such, Kazia is well funded to maintain momentum in its pipeline through the COVID-19 outbreak. We anticipate that Kazia may be eligible for some of the supportive measures that federal and state governments are putting in place for small businesses.