Cover
Cover | 6 Months Ended |
Dec. 31, 2023 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | Kazia Therapeutics Limited |
Entity Central Index Key | 0001075880 |
Current Fiscal Year End Date | --06-30 |
Statement of profit or loss and
Statement of profit or loss and other comprehensive income - AUD ($) | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue and other income | ||
Other income | $ 5 | $ 0 |
Finance Income | 6,453 | 139 |
Expenses | ||
Research and development expense | (4,327,717) | (9,359,972) |
General and administrative expense | (4,555,691) | (4,276,514) |
Fair value gain on financial liabilities | 84,587 | 0 |
Loss on revaluation of contingent consideration | (166,696) | (85,226) |
Loss before income tax benefit | (8,959,059) | (13,721,573) |
Income tax benefit | 135,546 | 135,546 |
Loss after income tax benefit for the half-year attributable to the owners of Kazia Therapeutics Limited | (8,823,513) | (13,586,027) |
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 | (103,687) | 86,494 |
Other comprehensive income for the half-year, net of tax | (103,687) | 86,494 |
Total comprehensive income for the half-year attributable to the owners of Kazia Therapeutics Limited | $ (8,927,200) | $ (13,499,533) |
Earnings per share for loss from continuing operations attributable to the owners of Kazia Therapeutics Limited | ||
Basic earnings per share | $ (3.68) | $ (9.327) |
Diluted earnings per share | $ (3.68) | $ (9.327) |
Statement of financial position
Statement of financial position - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Current assets | |||
Cash and cash equivalents | $ 3,562,602 | $ 5,241,197 | $ 4,390,523 |
Trade and other receivables | 3,742,671 | 3,899,154 | |
Other assets | 703,347 | 1,632,472 | |
Total current assets | 8,008,620 | 10,772,823 | |
Non-current assets | |||
Intangibles | 16,334,727 | 17,269,432 | |
Other receivables | 40,000 | 42,922 | |
Total non-current assets | 16,374,727 | 17,312,354 | |
Total assets | 24,383,347 | 28,085,177 | |
Current liabilities | |||
Trade and other payables | 5,986,677 | 4,328,949 | |
Other financial liabilities | 3,093,665 | 3,020,315 | |
Borrowings | 359,300 | 1,796,500 | |
Employee benefits | 337,415 | 689,802 | |
Contingent consideration | 1,558,931 | 750,000 | |
Total current liabilities | 11,335,988 | 7,565,251 | |
Non-Current liabilities | |||
Deferred tax | 2,153,723 | 2,289,269 | 2,560,361 |
Employee benefits | 66,139 | 59,323 | |
Contingent consideration | 5,559,989 | 6,120,783 | |
Total non-current liabilities | 7,779,851 | 8,469,375 | |
Total liabilities | 19,115,839 | 16,034,626 | |
Net assets | 5,267,508 | 12,050,551 | |
Equity | |||
Contributed equity | 98,779,714 | 97,452,246 | |
Unissued equity | 380,224 | 0 | |
Reserves | 4,013,654 | 3,680,876 | |
Accumulated losses | (97,906,084) | (89,082,571) | |
Total equity | $ 5,267,508 | $ 12,050,551 | $ 11,583,185 |
Statement of changes in equity
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, 2022 | $ 18,274,523 | $ 84,480,249 | $ 3,263,703 | $ (852,038) | $ (68,617,391) | |
Loss after income tax benefit for the half-year | (13,586,027) | 0 | 0 | 0 | (13,586,027) | |
Other comprehensive income for the half-year, net of tax | 86,494 | 0 | 0 | 86,494 | 0 | |
Total comprehensive income for the half-year | (13,499,533) | 0 | 0 | 86,494 | (13,586,027) | |
Issue of shares | 6,263,986 | 6,263,986 | 0 | 0 | 0 | |
Share issue costs | (400,517) | (400,517) | 0 | 0 | 0 | |
Transactions with owners in their capacity as owners: | ||||||
Employee share-based payment options - expired | 0 | 0 | (3,486) | 0 | 3,486 | |
Employee share-based payment options | 944,726 | 0 | 944,726 | 0 | 0 | |
Ending balance at Dec. 31, 2022 | 11,583,185 | 90,343,718 | 4,204,943 | (765,544) | (82,199,932) | |
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) | |
Total comprehensive income for the half-year | (8,927,200) | 0 | 0 | 0 | (103,687) | (8,823,513) |
Issue of shares | 1,648,187 | 1,648,187 | ||||
Share issue costs | (320,719) | (320,719) | ||||
Transactions with owners in their capacity as owners: | ||||||
Employee share-based payment options | 436,465 | 436,465 | ||||
Conversion of convertible promissory note | 380,224 | 380,224 | ||||
Ending balance at Dec. 31, 2023 | $ 5,267,508 | $ 98,779,714 | $ 380,224 | $ 4,859,131 | $ (845,477) | $ (97,906,084) |
Statement of cash flows
Statement of cash flows - AUD ($) | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities | ||
Receipts from customers (inclusive of GST) | $ 0 | $ 0 |
Payments to suppliers and employees (inclusive of GST) | (6,295,615) | (8,806,148) |
Interest paid | (39,257) | 0 |
Net cash used in operating activities | (6,334,872) | (8,806,148) |
Cash flows from financing activities | ||
Proceeds from issue of shares (net of costs) | 1,327,468 | 5,850,869 |
Proceeds from borrowings | 776,670 | 0 |
Repayment of borrowings | (371,802) | 0 |
Proceeds from issue of equity and pre-funded warrants | 3,020,315 | 0 |
Net cash from financing activities | 4,752,651 | 5,850,869 |
Net decrease in cash and cash equivalents | (1,582,221) | (2,955,279) |
Cash and cash equivalents at the beginning of the financial half-year | 5,241,197 | 7,361,112 |
Effects of exchange rate changes on cash and cash equivalents | (96,374) | (15,310) |
Cash and cash equivalents at the end of the financial half-year | $ 3,562,602 | $ 4,390,523 |
Material accounting policy info
Material accounting policy information | 6 Months Ended |
Dec. 31, 2023 | |
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 2023 have been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001, as appropriate for for-profit 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 2023 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 measurement of other financial liabilities The Consolidated entity’s other financial liabilities comprise deriviatives 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 During the half year ended 31 December 2023 the Consolidated entity experienced net cash outflows from operating activities of $6,334,872(December 2022: $8,806,148) and incurred a loss after tax of $8,823,513 (December 2022: $13,586,027). As at 31 December 2023 the Consolidated entity had cash in hand and at bank of $3,562,602. The financial statements have been prepared on a going concern basis, which contemplates continuity of normal activities and realisation of assets and settlement of liabilities in the normal course of business. As is often the case with drug development companies, the Consolidated entity has not generated significant revenues nor does the Consolidated entity anticipate generating 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 directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore grant funding, licensing opportunities and equity investment opportunities in the Consolidated entity. During the month of February 2024, the Consolidated entity raised total proceeds for the period of US$447,788 (A$685,280) using the ATM facility and continues to seek additional funding sources both in Australia and overseas. An ‘at-the-market’ Accordingly the directors have prepared the financial statements on a going concern basis. While the Consolidated entity’s current cash balance is not sufficient to fund the operations for a period of 12 months from the date of this report, the directors have prepared the financial statements on a going concern basis as they are confident of the Consolidated entity’s ability to raise additional funding, via licensing and partnering activities, obtaining of grant funding or raising additional capital from investors. Should the above assumptions not prove to be appropriate, there is material uncertainty related to events or conditions that may cast significant doubt whether the Consolidated entity will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in these financial statements. The financial statements do not include any adjustments to the recoverability and classification of asset carrying amounts or the amount of liabilities that might result should the Consolidated entity be unable to continue as a going concern and meet its debts as and when they fall due. |
Critical accounting judgements,
Critical accounting judgements, estimates and assumptions | 6 Months Ended |
Dec. 31, 2023 | |
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 2023. |
Operating segments
Operating segments | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Operating segments | Note 3. Operating segments Identification of reportable operating segments The Consolidated entity’s operating segment is based on the internal reports that are reviewed and used by the Board of Directors (being the Chief Operating Decision Makers (‘CODM’)) in assessing performance and in determining the allocation of resources. The information reported to the CODM, on at least a quarterly basis, is the consolidated results as shown in the statement of profit or loss and other comprehensive income and statement of financial position. |
Expenses
Expenses | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Expenses | Note 4. Expenses Consolidated December December $ $ Loss before income tax includes the following specific expenses: Amortisation Amortisation 934,705 934,711 Interest expense Borrowings 39,257 — Contingent consideration – Effective Interest 15 220,484 221,637 259,741 221,637 Superannuation expense Defined contribution superannuation expense 48,730 63,734 Employee benefits expense excluding superannuation Employee benefits expense excluding superannuation 1,793,896 1,778,503 |
Cash and cash equivalents
Cash and cash equivalents | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Cash and cash equivalents | Note 5. Cash and cash equivalents Consolidated December June 2023 $ $ Cash at bank and on hand 3,562,602 5,241,197 |
Trade and other receivables
Trade and other receivables | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Trade and other receivables | Note 6. Trade and other receivables Consolidated December June 2023 $ $ Trade receivables — 610 GBM Agile deposit 3,637,427 3,752,640 Deposit paid 39,851 40,870 GST refundable 65,393 105,034 3,742,671 3,899,154 The GBM Agile deposit was advanced to GCAR at the start of the GBM Agile trial, and is refundable if not utilised against trial expenses. The amount will be allocated against expenditure towards the latter end of the trial. Completion of the final analysis is expected in 2H CY2024. |
Other assets
Other assets | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Current assets - other | Note 7. Other assets Consolidated December 2023 June 2023 $ $ Prepayments 703,347 1,632,472 |
Intangibles
Intangibles | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Intangibles | Note 8. Intangibles Consolidated December June 2023 $ $ Paxalisib Licensing agreement — at acquired fair value 16,407,788 16,407,788 Less: Accumulated amortisation (7,792,901 ) (7,250,728 ) 8,614,887 9,157,060 EVT-801 9,813,362 9,813,362 Less: Accumulated amortisation (2,093,522 ) (1,700,990 ) 7,719,840 8,112,372 16,334,727 17,269,432 Reconciliations Reconciliations of the written down values at the beginning and end of the current financial half-year are set out below: EVT801 licensing Paxalisib Total Consolidated $ $ $ Balance at 1 July 2023 8,112,372 9,157,060 17,269,432 Amortisation expense (392,532 ) (542,173 ) (934,705 ) Balance at 31 December 2023 7,719,840 8,614,887 16,334,727 |
Other receivables
Other receivables | 6 Months Ended |
Dec. 31, 2023 | |
Other Non Current Receivables [Abstract] | |
Other receivables | Note 9. Other receivables Consolidated December June $ $ Corporate credit card deposit 40,000 42,922 |
Trade and other payables
Trade and other payables | 6 Months Ended |
Dec. 31, 2023 | |
Statement [line items] | |
Trade and other payables | Note 10. Trade and other payables Consolidated December June 2023 $ $ Trade payables 1,038,128 857,312 Accrued and other payables 4,948,549 3,471,637 5,986,677 4,328,949 |
Borrowings
Borrowings | 6 Months Ended |
Dec. 31, 2023 | |
Borrowings [abstract] | |
Disclosure of borrowings [text block] | Note 11. Borrowings Consolidated December June 2023 $ $ Insurance premium funding 359,300 1,796,500 |
Contingent consideration
Contingent consideration | 6 Months Ended |
Dec. 31, 2023 | |
Statement [line items] | |
Contingent consideration | Note 12. Contingent consideration Consolidated December June $ $ Contingent consideration — Paxalisib 750,000 750,000 Contingent consideration — EVT801 808,931 — 1,558,931 750,000 See also Note 15 setting out non-current |
Deferred tax
Deferred tax | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Deferred tax | Note 13. Deferred tax Consolidated December June 2023 $ $ Deferred tax liability 2,153,723 2,289,269 Amount expected to be settled after more than 12 months 2,153,723 2,289,269 Movements: Opening balance 2,289,269 2,560,361 Credited to profit or loss (135,546 ) (271,092 ) Closing balance 2,153,723 2,289,269 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. |
Other financial liabilities
Other financial liabilities | 6 Months Ended |
Dec. 31, 2023 | |
Other Financial Liabilities Current [Abstract] | |
Other financial liabilities | Note 14. Other financial liabilities Consolidated December June 2023 $ $ Prefunded and ordinary warrants at initial recognition 3,020,315 — Change in fair value 73,350 — Prefunded and ordinary warrants at end period end 3,093,665 — On November 30, 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 Pre- |
Contingent consideration 1
Contingent consideration 1 | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Contingent consideration - non-current | Note 15. Contingent consideration Consolidated December June 2023 $ $ Contingent consideration — Paxalisib 750,499 653,692 Contingent consideration — EVT801 4,809,490 5,467,091 5,559,989 6,120,783 A portion of the discount applied to anticipated future payments has unwound, with the resulting in a decrease in contingent consideration being recognised in profit and loss. Consolidated December June 2023 $ $ Reconciliation of the balance at the beginning and end of the reporting period is set out below: Contingent consideration at start of period (current and non-current) 6,870,783 8,967,785 Interest 220,484 593,462 Foreign currency (gain)/loss (139,043 ) 697,233 Loss/(Gain) on revaluation of contingent consideration 166,696 (3,387,697 ) 7,118,920 6,870,783 Contingent consideration - paxalisib During the 2017 financial year, the Consolidated entity acquired the rights to develop and commercialise 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 now a current liability and is no longer being discounted. Milestone 5 is a revenue based milestone contingent on net sales and is discounted to present value, using a discount rate of 7% per annum (June 2023: 20% per annum). The discount rate was considered at 30 June 2023 and revised to reflect a rate within a more reasonable market range. Accordingly, the discount rate applied to future expected cash flows has been revised upwards. 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 booked as a current or non-current |
Contributed equity
Contributed equity | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Contributed equity | Note 16. Contributed equity Consolidated December June 2023 December June 2023 Shares Shares $ $ Ordinary shares — fully paid 263,615,444 228,029,114 98,779,714 97,452,246 Movements in spare share capital Details Date Shares Issue price $ Balance 1 July 2023 228,029,114 97,452,246 ATM issue of shares No. 19 7 July 2023 8,148,140 $ 0.1856 1,512,523 ATM issue of shares No. 20 11 July 2023 157,120 $ 0.1647 25,877 ATM issue of shares No. 21 4 August 2023 15,000 $ 0.1679 2,519 ATM issue of shares No. 22 30 November 2023 1,066,070 $ 0.1006 107,268 Registered Direct Offering 5 December 2023 26,200,000 $ 0.0000 — Less: share issue transaction costs — $ 0.0000 (320,719 ) Balance 31 December 2023 263,615,444 98,779,714 During the period Kazia issued 2,620,000 ADSs to an institutional investor (issued at US$0.45). As part of the placement the investor purchased 1,824,445 pre-funded 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 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. |
Unissued equity
Unissued equity | 6 Months Ended |
Dec. 31, 2023 | |
Unissued Equity [Abstract] | |
Unissued equity | Note 17. Unissued equity Consolidated December June 2023 $ $ Unissued equity 380,224 — On 23 October, 2023, we entered into a securities purchase agreement with the selling shareholder, pursuant to which the Consolidated entity issued a six month unsecured convertible promissory note (the “Note”) in the principal amount of $776,670 (US$500,000). The note bears interest at 10% per annum. The shareholder called upon 50% of the promissory note, and was repaid the remaining US$250,000 plus interest of US$3,014 (total repayment of $371,802) on 20 December 2023. This amount presented above represents the 591,697 ADS’s representing 5,916,970 ordinary shares to be issued is currently sitting in unissued capital while the investor organizes their tax forms. |
Reserves
Reserves | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Reserves | Note 18. Reserves Consolidated December June 2023 $ $ Foreign currency reserve (845,477 ) (741,790 ) Share-based payments reserve 4,859,131 4,422,666 4,013,654 3,680,876 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. |
Dividends
Dividends | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Dividends | Note 19. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. |
Earnings per share
Earnings per share | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Earnings per share | Note 20. Earnings per share Consolidated $ Consolidated $ Loss after income tax attributable to the owners of Kazia Therapeutics Limited (8,823,513 ) (13,586,027 ) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 239,779,384 145,661,097 Weighted average number of ordinary shares used in calculating diluted earnings per share 239,779,384 145,661,097 Cents Cents Basic earnings per share (3.680 ) (9.327 ) Diluted earnings per share (3.680 ) (9.327 ) 8,640,000 unlisted options have been excluded from the above calculations as they were anti-dilutive. |
Reconciliation of loss after in
Reconciliation of loss after income tax to net cash used in operating activities | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Reconciliation of loss after income tax to net cash used in operating activities | Note 21. Reconciliation of loss after income tax to net cash used in operating activities Consolidated December December $ $ Loss after income tax benefit for the half-year (8,823,513 ) (13,586,027 ) Adjustments for: Amortisation 934,705 934,741 Share-based payments 436,465 944,726 Foreign exchange differences (13,063 ) 145,529 Fair value losses on financial liabilities at fair value through profit or loss (84,587 ) — Loss on contingent consideration 166,696 85,227 Contingent consideration interest 220,484 221,637 Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables 274,618 (650,153 ) Increase/(decrease) in GBM Agile deposit (115,213 ) 3,836,630 (Decrease)/increase in prepayments 929,125 (628,404 ) (Decrease)/increase in insurance premium funding (1,437,200 ) 552,315 Increase/(decrease) in trade and other payables 1,657,728 (611,352 ) Decrease in deferred tax liabilities (135,546 ) (135,546 ) (Decrease)/increase in employee benefits (345,571 ) 84,529 Net cash used in operating activities (6,334,872 ) (8,806,148 ) |
Events after the reporting peri
Events after the reporting period | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Events after the reporting period | Note 22. Events after the reporting period On 8 January, 2024, Kazia Therapeutics Limited received notice from Karen Krumeich of her intention to resign as the Consolidated entity’s Chief Financial Officer, effective immediately. On 11 January, 2024, the Consolidated entity’s Board of Directors appointed Gabrielle Heaton as its Principal Accounting Officer and Principal Financial Officer, effective 15 January, 2024. On 18 January 2024, Kazia Therapeutics Limited announced the appointment of pharma industry executive, Mr. Robert Apple to Kazia’s Board of the Directors as a Non-Executive During the month of February 2024, the Consolidated entity raised total proceeds for the period of US$447,788 (A$685,280) using the ATM facility and continues to seek additional funding sources both in Australia and overseas. On 21 February 2024, Armistice Capital exercised 1,824,445 prefunded warrants for a cash price of US$18,244 and 18,244,450 ordinary shares were issued. No other matter or circumstance has arisen since 31 December 2023 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. The Directors have considered this to be appropriate. |
Material accounting policy in_2
Material accounting policy information (Policies) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Basis of preparation | These general purpose financial statements for the interim half-year reporting period ended 31 December 2023 have been prepared in accordance with Australian Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001, as appropriate for for-profit 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 2023 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 measurement of other financial liabilities | Classification and measurement of other financial liabilities The Consolidated entity’s other financial liabilities comprise deriviatives 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 During the half year ended 31 December 2023 the Consolidated entity experienced net cash outflows from operating activities of $6,334,872(December 2022: $8,806,148) and incurred a loss after tax of $8,823,513 (December 2022: $13,586,027). As at 31 December 2023 the Consolidated entity had cash in hand and at bank of $3,562,602. The financial statements have been prepared on a going concern basis, which contemplates continuity of normal activities and realisation of assets and settlement of liabilities in the normal course of business. As is often the case with drug development companies, the Consolidated entity has not generated significant revenues nor does the Consolidated entity anticipate generating 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 directors have considered the cash flow forecasts and the funding requirements of the business and continue to explore grant funding, licensing opportunities and equity investment opportunities in the Consolidated entity. During the month of February 2024, the Consolidated entity raised total proceeds for the period of US$447,788 (A$685,280) using the ATM facility and continues to seek additional funding sources both in Australia and overseas. An ‘at-the-market’ Accordingly the directors have prepared the financial statements on a going concern basis. While the Consolidated entity’s current cash balance is not sufficient to fund the operations for a period of 12 months from the date of this report, the directors have prepared the financial statements on a going concern basis as they are confident of the Consolidated entity’s ability to raise additional funding, via licensing and partnering activities, obtaining of grant funding or raising additional capital from investors. Should the above assumptions not prove to be appropriate, there is material uncertainty related to events or conditions that may cast significant doubt whether the Consolidated entity will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in these financial statements. The financial statements do not include any adjustments to the recoverability and classification of asset carrying amounts or the amount of liabilities that might result should the Consolidated entity be unable to continue as a going concern and meet its debts as and when they fall due. |
Expenses (Tables)
Expenses (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of expenses | Consolidated December December $ $ Loss before income tax includes the following specific expenses: Amortisation Amortisation 934,705 934,711 Interest expense Borrowings 39,257 — Contingent consideration – Effective Interest 15 220,484 221,637 259,741 221,637 Superannuation expense Defined contribution superannuation expense 48,730 63,734 Employee benefits expense excluding superannuation Employee benefits expense excluding superannuation 1,793,896 1,778,503 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of cash and cash equivalents | Consolidated December June 2023 $ $ Cash at bank and on hand 3,562,602 5,241,197 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Statement [line items] | |
Summary of current assets - trade and other receivables | Consolidated December June 2023 $ $ Trade receivables — 610 GBM Agile deposit 3,637,427 3,752,640 Deposit paid 39,851 40,870 GST refundable 65,393 105,034 3,742,671 3,899,154 |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of current assets - other | Consolidated December 2023 June 2023 $ $ Prepayments 703,347 1,632,472 |
Intangibles (Tables)
Intangibles (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of non-current assets - intangibles | Consolidated December June 2023 $ $ Paxalisib Licensing agreement — at acquired fair value 16,407,788 16,407,788 Less: Accumulated amortisation (7,792,901 ) (7,250,728 ) 8,614,887 9,157,060 EVT-801 9,813,362 9,813,362 Less: Accumulated amortisation (2,093,522 ) (1,700,990 ) 7,719,840 8,112,372 16,334,727 17,269,432 |
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 Paxalisib Total Consolidated $ $ $ Balance at 1 July 2023 8,112,372 9,157,060 17,269,432 Amortisation expense (392,532 ) (542,173 ) (934,705 ) Balance at 31 December 2023 7,719,840 8,614,887 16,334,727 |
Other Receivables (Tables)
Other Receivables (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Other Non Current Receivables [Abstract] | |
Summary of Other receivables | Consolidated December June $ $ Corporate credit card deposit 40,000 42,922 |
Trade and other payables (Table
Trade and other payables (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Statement [line items] | |
Summary of trade and other payables | Consolidated December June 2023 $ $ Trade payables 1,038,128 857,312 Accrued and other payables 4,948,549 3,471,637 5,986,677 4,328,949 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Borrowings [abstract] | |
Disclosure of detailed information about borrowings [text block] | Consolidated December June 2023 $ $ Insurance premium funding 359,300 1,796,500 |
Contingent consideration (Table
Contingent consideration (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Statement [line items] | |
Summary of liabilities - contingent consideration | Consolidated December June $ $ Contingent consideration — Paxalisib 750,000 750,000 Contingent consideration — EVT801 808,931 — 1,558,931 750,000 |
Deferred tax (Tables)
Deferred tax (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of deferred taxes liability | Consolidated December June 2023 $ $ Deferred tax liability 2,153,723 2,289,269 Amount expected to be settled after more than 12 months 2,153,723 2,289,269 Movements: Opening balance 2,289,269 2,560,361 Credited to profit or loss (135,546 ) (271,092 ) Closing balance 2,153,723 2,289,269 |
Other financial liabilities (Ta
Other financial liabilities (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Other Financial Liabilities Current [Abstract] | |
Summary of other financial liabilities | Consolidated December June 2023 $ $ Prefunded and ordinary warrants at initial recognition 3,020,315 — Change in fair value 73,350 — Prefunded and ordinary warrants at end period end 3,093,665 — |
Contingent consideration 1 (Tab
Contingent consideration 1 (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of liabilities - contingent consideration | Consolidated December June 2023 $ $ Contingent consideration — Paxalisib 750,499 653,692 Contingent consideration — EVT801 4,809,490 5,467,091 5,559,989 6,120,783 |
Summary of reconciliation of contingent consideration | Consolidated December June 2023 $ $ Reconciliation of the balance at the beginning and end of the reporting period is set out below: Contingent consideration at start of period (current and non-current) 6,870,783 8,967,785 Interest 220,484 593,462 Foreign currency (gain)/loss (139,043 ) 697,233 Loss/(Gain) on revaluation of contingent consideration 166,696 (3,387,697 ) 7,118,920 6,870,783 |
Contributed equity (Tables)
Contributed equity (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of equity - contributed equity | Consolidated December June 2023 December June 2023 Shares Shares $ $ Ordinary shares — fully paid 263,615,444 228,029,114 98,779,714 97,452,246 |
Summary of movements in ordinary share capital | Movements in spare share capital Details Date Shares Issue price $ Balance 1 July 2023 228,029,114 97,452,246 ATM issue of shares No. 19 7 July 2023 8,148,140 $ 0.1856 1,512,523 ATM issue of shares No. 20 11 July 2023 157,120 $ 0.1647 25,877 ATM issue of shares No. 21 4 August 2023 15,000 $ 0.1679 2,519 ATM issue of shares No. 22 30 November 2023 1,066,070 $ 0.1006 107,268 Registered Direct Offering 5 December 2023 26,200,000 $ 0.0000 — Less: share issue transaction costs — $ 0.0000 (320,719 ) Balance 31 December 2023 263,615,444 98,779,714 |
Unissued equity (Tables)
Unissued equity (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Unissued Equity [Abstract] | |
Summary of unissued equity | Consolidated December June 2023 $ $ Unissued equity 380,224 — |
Reserves (Tables)
Reserves (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Disclosure of reserves within equity [abstract] | |
Summary of tabular form of other reserves | Consolidated December June 2023 $ $ Foreign currency reserve (845,477 ) (741,790 ) Share-based payments reserve 4,859,131 4,422,666 4,013,654 3,680,876 |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Summary of earnings per share | Consolidated $ Consolidated $ Loss after income tax attributable to the owners of Kazia Therapeutics Limited (8,823,513 ) (13,586,027 ) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 239,779,384 145,661,097 Weighted average number of ordinary shares used in calculating diluted earnings per share 239,779,384 145,661,097 Cents Cents Basic earnings per share (3.680 ) (9.327 ) Diluted earnings per share (3.680 ) (9.327 ) |
Reconciliation of loss after _2
Reconciliation of loss after income tax to net cash used in operating activities (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Text block [abstract] | |
Disclosure of reconciliation of profit or loss to operating cash flows | Consolidated December December $ $ Loss after income tax benefit for the half-year (8,823,513 ) (13,586,027 ) Adjustments for: Amortisation 934,705 934,741 Share-based payments 436,465 944,726 Foreign exchange differences (13,063 ) 145,529 Fair value losses on financial liabilities at fair value through profit or loss (84,587 ) — Loss on contingent consideration 166,696 85,227 Contingent consideration interest 220,484 221,637 Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables 274,618 (650,153 ) Increase/(decrease) in GBM Agile deposit (115,213 ) 3,836,630 (Decrease)/increase in prepayments 929,125 (628,404 ) (Decrease)/increase in insurance premium funding (1,437,200 ) 552,315 Increase/(decrease) in trade and other payables 1,657,728 (611,352 ) Decrease in deferred tax liabilities (135,546 ) (135,546 ) (Decrease)/increase in employee benefits (345,571 ) 84,529 Net cash used in operating activities (6,334,872 ) (8,806,148 ) |
Material accounting policy in_3
Material accounting policy information - Additional Information (Detail) | 1 Months Ended | 6 Months Ended | |||||||||
Feb. 29, 2024 AUD ($) | Feb. 29, 2024 USD ($) | Aug. 07, 2023 AUD ($) | Aug. 07, 2023 USD ($) | Dec. 31, 2023 AUD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 AUD ($) | Dec. 31, 2022 USD ($) | Jun. 30, 2023 AUD ($) | Jun. 30, 2022 AUD ($) | May 01, 2022 USD ($) | |
Disclosure of summary of significant accounting policies [line items] | |||||||||||
Consolidated loss after income tax | $ 8,823,513 | $ 13,586,027 | |||||||||
Net cash outflows from operating activities | 6,334,872 | 8,806,148 | |||||||||
Consolidated cash in hand and at bank | 3,562,602 | 4,390,523 | $ 5,241,197 | $ 7,361,112 | |||||||
Proceeds from issuing shares | $ 1,327,468 | $ 5,850,869 | |||||||||
At The Market Equity Program [Member] | |||||||||||
Disclosure of summary of significant accounting policies [line items] | |||||||||||
Aggregate offering | $ 35,000,000 | ||||||||||
Proceeds from issuing shares | $ 1,090,642 | $ 4,201,322 | |||||||||
American Depository Shares [Member] | At The Market Equity Program [Member] | |||||||||||
Disclosure of summary of significant accounting policies [line items] | |||||||||||
Number of shares represented by one depositary receipt | 10 | ||||||||||
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 | $ 685,280 | $ 447,788 | $ 685,280 | $ 447,788 |
Expenses - Summary of expenses
Expenses - Summary of expenses (Detail) - AUD ($) | 6 Months Ended | ||
Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure of expenses by nature [line items] | |||
Amortisation | $ 934,705 | $ 934,711 | |
Borrowings | 39,257 | 0 | |
Interest expense | |||
Contingent consideration – Effective Interest | 220,484 | $ 593,462 | 221,637 |
Interest expense | 259,741 | 221,637 | |
Superannuation expense | |||
Defined contribution superannuation expense | 48,730 | 63,734 | |
Employee benefits expense excluding superannuation | |||
Employee benefits expense excluding superannuation | $ 1,793,896 | $ 1,778,503 |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Cash and Cash Equivalents (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Cash and cash equivalents [abstract] | ||
Cash at bank and on hand | $ 3,562,602 | $ 5,241,197 |
Trade and other receivables - S
Trade and other receivables - Summary of current assets - trade and other receivables (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of financial assets [line items] | ||
Trade receivables | $ 610 | |
GBM Agile deposit | $ 3,637,427 | 3,752,640 |
Trade and other receivables | 3,742,671 | 3,899,154 |
Deposits Paid [Member] | ||
Disclosure of financial assets [line items] | ||
Other current receivables | 39,851 | 40,870 |
GST Refundable [Member] | ||
Disclosure of financial assets [line items] | ||
Other current receivables | $ 65,393 | $ 105,034 |
Other assets - Summary of curre
Other assets - Summary of current assets - other (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Statement of financial position [abstract] | ||
Prepayments | $ 703,347 | $ 1,632,472 |
Intangibles - Summary of non-cu
Intangibles - Summary of non-current assets - intangibles (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | $ 16,334,727 | $ 17,269,432 |
Paxalisib Licensing agreement [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | 8,614,887 | 9,157,060 |
Paxalisib Licensing agreement [Member] | Gross carrying amount [member] | At fair value [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | 16,407,788 | 16,407,788 |
Paxalisib Licensing agreement [Member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | (7,792,901) | (7,250,728) |
EVT-801 Licensing agreement [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | 7,719,840 | 8,112,372 |
EVT-801 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 |
EVT-801 Licensing agreement [Member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangibles | $ (2,093,522) | $ (1,700,990) |
Intangibles - Summary of reconc
Intangibles - Summary of reconciliations of intangibles (Detail) - AUD ($) | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | $ 17,269,432 | |
Amortisation expense | (934,705) | $ (934,711) |
Ending balance | 16,334,727 | |
Paxalisib licensing agreement [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 9,157,060 | |
Amortisation expense | (542,173) | |
Ending balance | 8,614,887 | |
EVT801 licensing agreement [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 8,112,372 | |
Amortisation expense | (392,532) | |
Ending balance | $ 7,719,840 |
Other receivables - Summary of
Other receivables - Summary of other receivables - other receivables (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Other Non Current Receivables [Line Items] | ||
Other receivables | $ 40,000 | $ 42,922 |
Corporate Credit Card Deposit [Member] | ||
Other Non Current Receivables [Line Items] | ||
Other receivables | $ 40,000 | $ 42,922 |
Trade and other payables - Summ
Trade and other payables - Summary of current liabilities - trade and other payables (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Trade and other payables [abstract] | ||
Trade payables | $ 1,038,128 | $ 857,312 |
Accrued And Other Payables | 4,948,549 | 3,471,637 |
Total trade and other payables | $ 5,986,677 | $ 4,328,949 |
Borrowings - Schedule of borrow
Borrowings - Schedule of borrowings (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of detailed information about borrowings [line items] | ||
Current borrowings | $ 359,300 | $ 1,796,500 |
Insurance Premium Funding [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Current borrowings | $ 359,300 | $ 1,796,500 |
Contingent consideration - Summ
Contingent consideration - Summary of liabilities - contingent consideration (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of contingent liabilities [line items] | ||
Contingent Consideration Current | $ 1,558,931 | $ 750,000 |
Contingent consideration — Paxalisib [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent Consideration Current | 750,000 | 750,000 |
Contingent consideration — EVT801 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent Consideration Current | $ 808,931 | $ 0 |
Deferred tax - Summary of defer
Deferred tax - Summary of deferred taxes liability (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Deferred tax assets and liabilities [abstract] | ||
Amount expected to be settled after more than 12 months | $ 2,153,723 | $ 2,289,269 |
Credited to profit or loss | $ (135,546) | $ (271,092) |
Other financial liabilities - S
Other financial liabilities - Summary of other financial liabilities (Detail) - AUD ($) | 6 Months Ended | |
Dec. 31, 2023 | Jun. 30, 2023 | |
Other Financial Liabilities Current [Abstract] | ||
Prefunded and ordinary warrants at initial recognition | $ 3,020,315 | |
Change in fair value | 73,350 | $ 0 |
Prefunded and ordinary warrants at initial recognition | $ 3,093,665 | $ 3,020,315 |
Other financial liabilities - A
Other financial liabilities - Additional Information (Detail) | Nov. 30, 2023 AUD ($) shares | Dec. 31, 2023 $ / shares | Nov. 30, 2023 $ / shares |
Disclosure of Changes in Other Financial Liabilities Current [Line Items] | |||
Value of securities exercisable | $ | $ 0 | ||
Exercise price | $ / shares | $ 0.583 | ||
Securities Expiry Date | Jun. 05, 2029 | ||
Prefunded Warrants [Member] | |||
Disclosure of Changes in Other Financial Liabilities Current [Line Items] | |||
Number of other equity instruments exercisable | shares | 1,824,445 | ||
Exercise price | $ / shares | $ 0.01 | ||
Ordinary Warrants [Member] | |||
Disclosure of Changes in Other Financial Liabilities Current [Line Items] | |||
Number of other equity instruments exercisable | shares | 4,444,445 | ||
Exercise price | $ / shares | $ 0.583 | ||
American Depositary Shares [Member] | |||
Disclosure of Changes in Other Financial Liabilities Current [Line Items] | |||
Number of shares issued | shares | 2,620,000 |
Contingent consideration 1 - Su
Contingent consideration 1 - Summary of liabilities - contingent consideration (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of contingent liabilities [line items] | ||
Contingent consideration, non-current | $ 5,559,989 | $ 6,120,783 |
Contingent consideration — Paxalisib [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent consideration, non-current | 750,499 | 653,692 |
Contingent consideration — EVT801 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Contingent consideration, non-current | $ 4,809,490 | $ 5,467,091 |
Contingent consideration 1 - _2
Contingent consideration 1 - Summary of reconciliation of contingent consideration (Detail) - AUD ($) | 6 Months Ended | ||
Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Disclosure In Tabular Form Of Changes In Contingent Consideration During The Period [Line Items] | |||
Contingent Consideration | $ 6,870,783 | $ 8,967,785 | |
Interest | 220,484 | 593,462 | $ 221,637 |
Foreign currency (gain)/loss | (139,043) | 697,233 | |
Loss/(Gain) on revaluation of contingent consideration | 166,696 | (3,387,697) | 85,226 |
Contingent Consideration | $ 7,118,920 | $ 6,870,783 | $ 8,967,785 |
Contingent consideration 1 - Ad
Contingent consideration 1 - Additional Information (Detail) | 6 Months Ended | ||
Dec. 31, 2023 AUD ($) Milestone | Dec. 31, 2023 EUR (€) Milestone | Jun. 30, 2023 | |
Disclosure of contingent liabilities [line items] | |||
Milestone payments not booked | $ 486,167,287 | € 300,500,000 | |
Milestone payment discount rate | 7% | 7% | 20% |
Milestone Two [member] | |||
Disclosure of contingent liabilities [line items] | |||
Contingent consideration | $ | $ 1,250,000 | ||
Glioblast Pty Ltd [member] | |||
Disclosure of contingent liabilities [line items] | |||
Number of contingent milestone payments | Milestone | 4 | 4 | |
Contingent consideration – EVT801 [Member] | |||
Disclosure of contingent liabilities [line items] | |||
Percentage of discount rate on milestone payments | 7% | 7% | 7% |
Contingent consideration – EVT801 [Member] | Milestone Three [Member] | |||
Disclosure of contingent liabilities [line items] | |||
Probability of milestone payments | 100% | 100% | 100% |
Contingent consideration – EVT801 [Member] | Milestone Four [member] | |||
Disclosure of contingent liabilities [line items] | |||
Probability of milestone payments | 80% | 80% | 63% |
Contingent consideration – EVT801 [Member] | Milestone Five [member] | |||
Disclosure of contingent liabilities [line items] | |||
Probability of milestone payments | 63% | 63% | 63% |
Contributed equity - Summary of
Contributed equity - Summary of equity - contributed equity (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of classes of share capital [abstract] | ||
Ordinary shares — fully paid, shares | 263,615,444 | 228,029,114 |
Ordinary shares — fully paid | $ 98,779,714 | $ 97,452,246 |
Contributed equity - Summary _2
Contributed equity - Summary of movements in ordinary share capital (Detail) | 6 Months Ended | |||||||
Dec. 31, 2023 AUD ($) $ / shares shares | Dec. 05, 2023 $ / shares | Nov. 30, 2023 $ / shares | Aug. 04, 2023 $ / shares | Jul. 11, 2023 $ / shares | Jul. 07, 2023 $ / shares | Dec. 31, 2023 AUD ($) shares | Dec. 31, 2022 AUD ($) | |
Disclosure of classes of share capital [line items] | ||||||||
Beginning Balance | $ 12,050,551 | $ 18,274,523 | ||||||
Issue of shares | 1,648,187 | 6,263,986 | ||||||
Ending balance | $ 5,267,508 | $ 5,267,508 | 11,583,185 | |||||
Contributed equity [member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Ending Balance | shares | 263,615,444 | 263,615,444 | ||||||
Beginning Balance | $ 97,452,246 | 84,480,249 | ||||||
Issue of shares | 1,648,187 | 6,263,986 | ||||||
Ending balance | $ 98,779,714 | $ 98,779,714 | $ 90,343,718 | |||||
Contributed equity [member] | 1 July 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Beginning Balance | shares | 228,029,114 | |||||||
Beginning Balance | $ 97,452,246 | |||||||
ATM issue of shares No. 19 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0.1856 | |||||||
ATM issue of shares No. 19 [Member] | Contributed equity [member] | 7 July 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Increase (decrease) in shares outstanding | shares | 8,148,140 | |||||||
Issue of shares | $ 1,512,523 | |||||||
ATM issue of shares No. 20 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0.1647 | |||||||
ATM issue of shares No. 20 [Member] | Contributed equity [member] | 11 July 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Increase (decrease) in shares outstanding | shares | 157,120 | |||||||
Issue of shares | $ 25,877 | |||||||
ATM issue of shares No. 21 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0.1679 | |||||||
ATM issue of shares No. 21 [Member] | Contributed equity [member] | 4 August 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Increase (decrease) in shares outstanding | shares | 15,000 | |||||||
Issue of shares | $ 2,519 | |||||||
ATM issue of shares No. 22 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0.1006 | |||||||
ATM issue of shares No. 22 [Member] | Contributed equity [member] | 30 November 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Increase (decrease) in shares outstanding | shares | 1,066,070 | |||||||
Issue of shares | $ 107,268 | |||||||
Registered Direct Offering [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0 | |||||||
Registered Direct Offering [Member] | Contributed equity [member] | 5 December 2023 [Member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Increase (decrease) in shares outstanding | shares | 26,200,000 | |||||||
Share issue transaction costs [member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue price | $ / shares | $ 0 | |||||||
Share issue transaction costs [member] | Contributed equity [member] | ||||||||
Disclosure of classes of share capital [line items] | ||||||||
Issue of shares | $ (320,719) |
Contributed equity - Additional
Contributed equity - Additional Information (Detail) | 6 Months Ended | ||||
Dec. 31, 2023 AUD ($) $ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | Nov. 30, 2023 $ / shares shares | Jun. 30, 2023 AUD ($) | |
Disclosure of classes of share capital [line items] | |||||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 0.583 | ||||
Fair value of warrants | $ | $ 1,981,756 | ||||
Issued capital | $ | $ 98,779,714 | $ 97,452,246 | |||
Fully paid ordinary shares par value | $ 0 | ||||
Institutional investor [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | shares | 26,200,000 | 26,200,000 | |||
Issued capital | $ | $ 0 | ||||
American Depositary Shares [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | shares | 2,620,000 | ||||
American Depositary Shares [Member] | Institutional investor [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares issued | shares | 2,620,000 | 2,620,000 | |||
Issue price | $ 0.45 | ||||
Pre-funded warrants [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of warrants issued | shares | 1,824,445 | 1,824,445 | |||
Warrants issue price per share | $ 0.44 | ||||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 0.01 | ||||
Ordinary warrants [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of warrants issued | shares | 4,444,445 | 4,444,445 | |||
Weighted average exercise price of other equity instruments exercisable in share-based payment arrangement | $ 0.583 | ||||
Warrant reserve [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Proceeds from issuing other equity instruments | $ 3,020,315 | $ 1,981,756 |
Unissued equity - Summary of un
Unissued equity - Summary of unissued equity (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Unissued Equity [Abstract] | ||
Unissued equity | $ 380,224 | $ 0 |
Unissued equity - Additional In
Unissued equity - Additional Information (Detail) | 6 Months Ended | |||||||
Dec. 20, 2023 AUD ($) | Oct. 23, 2023 AUD ($) shares | Dec. 31, 2023 AUD ($) | Dec. 31, 2022 AUD ($) | Feb. 21, 2024 shares | Dec. 20, 2023 USD ($) | Nov. 30, 2023 shares | Oct. 23, 2023 USD ($) shares | |
Disclosure of unissued equity [line items] | ||||||||
Interest expense on borrowings | $ | $ 39,257 | $ 0 | ||||||
Repayments of borrowings, classified as financing activities | $ | $ 371,802 | $ 0 | ||||||
Unsecured convertible promissory note [member] | ||||||||
Disclosure of unissued equity [line items] | ||||||||
Notional amount | $ 776,670 | $ 250,000 | $ 500,000 | |||||
Borrowings, interest rate | 10% | 10% | ||||||
Percentage of borrowings that are called up for equity instrument | 50% | |||||||
Interest expense on borrowings | $ | $ 3,014 | |||||||
Repayments of borrowings, classified as financing activities | $ | $ 371,802 | |||||||
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 | ||||||
Ordinary shares [member] | ||||||||
Disclosure of unissued equity [line items] | ||||||||
Number of shares issued | shares | 18,244,450 | |||||||
Ordinary shares [member] | Unsecured convertible promissory note [member] | ||||||||
Disclosure of unissued equity [line items] | ||||||||
Number of shares issued | shares | 5,916,970 | 5,916,970 |
Reserves - Summary of tabular f
Reserves - Summary of tabular form of other reserves (Detail) - AUD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
Disclosure of reserves within equity [abstract] | ||
Foreign currency reserve | $ (845,477) | $ (741,790) |
Share-based payments reserve | 4,859,131 | 4,422,666 |
Other reserves | $ 4,013,654 | $ 3,680,876 |
Reserves - Additional Informati
Reserves - Additional Information (Detail) | 6 Months Ended |
Dec. 31, 2023 shares | |
Disclosure of reserves within equity [abstract] | |
Number of options issued to employees | 0 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) | 6 Months Ended |
Dec. 31, 2023 AUD ($) | |
Statement of changes in equity [abstract] | |
Dividends paid | $ 0 |
Earnings per share - Summary of
Earnings per share - Summary of earnings per share (Detail) - AUD ($) | 6 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Earnings per share [abstract] | ||
Loss after income tax attributable to the owners of Kazia Therapeutics Limited | $ (8,823,513) | $ (13,586,027) |
Weighted average number of ordinary shares used in calculating basic earnings per share | 239,779,384 | 145,661,097 |
Weighted average number of ordinary shares used in calculating diluted earnings per share | 239,779,384 | 145,661,097 |
Basic earnings per share | $ (3.68) | $ (9.327) |
Diluted earnings per share | $ (3.68) | $ (9.327) |
Earnings per share - Additional
Earnings per share - Additional Information (Detail) | 6 Months Ended |
Dec. 31, 2023 shares | |
Unlisted options [member] | |
Earnings per share [line items] | |
Number of options that have been excluded from the calculations as they were antidilutive | 8,640,000 |
Reconciliation of loss after _3
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, 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 | $ (8,823,513) | $ (13,586,027) |
Adjustments for: | ||
Amortisation | 934,705 | 934,741 |
Share-based payments | 436,465 | 944,726 |
Foreign exchange differences | (13,063) | 145,529 |
Fair value losses on financial liabilities at fair value through profit or loss | (84,587) | |
Loss on contingent consideration | 166,696 | 85,227 |
Contingent consideration interest | 220,484 | 221,637 |
Change in operating assets and liabilities: | ||
Decrease/(increase) in trade and other receivables | 274,618 | (650,153) |
Increase/(decrease) in GBM Agile deposit | (115,213) | 3,836,630 |
(Decrease)/increase in prepayments | 929,125 | (628,404) |
(Decrease)/increase in insurance premium funding | (1,437,200) | 552,315 |
Increase/(decrease) in trade and other payables | 1,657,728 | (611,352) |
Decrease in deferred tax liabilities | (135,546) | (135,546) |
(Decrease)/increase in employee benefits | (345,571) | 84,529 |
Net cash used in operating activities | $ (6,334,872) | $ (8,806,148) |
Events after the reporting pe_2
Events after the reporting period - Additional Information (Detail) | 1 Months Ended | ||||
Feb. 21, 2024 shares $ / shares | Feb. 29, 2024 USD ($) | Feb. 29, 2024 AUD ($) | Aug. 07, 2023 USD ($) | Aug. 07, 2023 AUD ($) | |
At the market equity program [member] | Major ordinary share transactions [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Proceeds from the issuance of common stock | $ 447,788 | $ 685,280 | $ 447,788 | $ 685,280 | |
Prefunded warrants [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Warrants exercised | 1,824,445 | ||||
Weighted average exercise price, exercised | $ / shares | $ 18,244 | ||||
Ordinary shares [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Number of shares issued | 18,244,450 |