21 Kazia Theraputics Limited Annual Report 2022 2022 at a Glance Chairman’s Letter CEO’s Report Key Milestones Pipeline Review ESG Financial Reports 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 ‘company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the year ended 30 June 2022. Directors The following persons were Directors of Kazia Therapeutics Limited (ABN 37 063 259 754) during the whole of the financial year and up to the date of this report, unless otherwise stated: Iain Ross Bryce Carmine Steven Coffey James Garner 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. Dividends There were no dividends paid, recommended or declared during the current or previous financial year. Review of operations The loss for the consolidated entity after providing for income tax amounted to $24,647,815 (30 June 2021: $8,421,960). The attached financial statements detail the performance and financial position of the consolidated entity for the year ended 30 June 2022. Cash resources At 30 June 2022, the consolidated entity had total funds, comprising cash at bank and on hand of $7,361,112 the majority of which is held in US dollars. Total current assets at year-end stand at $7,608,240. Going concern The financial statements have been prepared on a going concern basis. The Directors have considered this to be appropriate. Refer to ‘Going concern’ in note 2 to the financial statements for further details. Impact of COVID-19 The Directors identify no material impact from the ongoing COVID-19 pandemic to its operations. Given the evolution of the pandemic, the directors will hereafter discontinue routine updates on this topic and will notify the market of COVID-related impact only on an as needed basis. Kazia Therapeutics Limited Research and Development Overview The company is an oncology-focused biotechnology company that has a portfolio of development candidates, diversified across several distinct technologies, with the potential to yield first-in-class and best-in-class agents in a range of oncology indications. Our lead drug candidate is paxalisib (formerly GDC-0084), a small molecule, brain-penetrant inhibitor of the PI3K/Akt/ mTOR pathway. Paxalisib is a potent and selective inhibitor of all four isoforms of phosphoinositide-3-kinase (PI3K) and a moderate inhibitor of the mammalian target of rapamycin (mTOR). The PI3K/Akt/mTOR signaling axis has been shown to be dysregulated in approximately 85-90% of cases of glioblastoma per Cancer Genome Atlas, and is considered a promising target in this disease. Paxalisib is involved in eight active clinical trials for various forms of brain cancer at varying stages of development. The company is also developing EVT801, a small molecule selective inhibitor of vascular endothelial growth factor receptor 3 (VEGFR3), which was licensed from Evotec SE in April 2021. Evotec has conducted an extensive program of preclinical development. Preclinical data has demonstrated EVT801 to be active against a broad range of tumour types and has provided compelling evidence of synergy with immune-oncology agents. A phase 1 study commenced recruitment in November 2021. Our Collaborators
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