Shares of Kazia Therapeutics Ltd (NASDAQ:KZIA) are surging Wednesday following the announcement of preclinical research findings for its lead drug candidate, paxalisib.
What To Know: The clinical-stage biotechnology revealed data published in the peer-reviewed journal Molecular Cancer Therapeutics highlighting paxalisib’s potential in treating triple-negative breast cancer.
The research, conducted at the QIMR Berghofer Medical Research Institute, demonstrated that paxalisib could reprogram the tumor microenvironment to enhance immune response. The study found that combining paxalisib with an immune checkpoint inhibitor resulted in synergistic antitumor activity and prolonged survival in preclinical models.
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“This landmark study offers a mechanistic and translational foundation for our newly launched Phase 1b clinical trial of paxalisib in advanced breast cancer,” stated Kazia’s CEO, Dr. John Friend. He noted that the findings position the drug at the forefront of innovative immunotherapy combinations. The company recently dosed the first patient in this trial.
What To Know: According to data from Benzinga Pro, the positive news sent Kazia shares soaring. The stock was trading up over 79.6% at $9.44 in late morning trading. Volume is exceptionally high, with over 41 million shares exchanged Wednesday morning compared to its 100-day average of just over 31,000 shares.
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How To Buy KZIA Stock
By now you're likely curious about how to participate in the market for Kazia Therapeutics – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Kazia Therapeutics, which is trading at $9.44 as of publishing time, $100 would buy you 10.6 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, KZIA has a 52-week high of $79.00 and a 52-week low of $2.86.
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