The offering consists of 2.58 million American Depositary Shares, alongside Series A and Series B warrants. The Series A warrants, exercisable at $17.825, are tied to a data readout for triple-negative breast cancer expected in late 2027, while the Series B warrants, priced at $19.375, align with HR+/HER2- breast cancer results slated for early 2028. The company set the combined public offering price for each ADS and accompanying warrant at $15.50.

Leerink Partners and Guggenheim Securities are serving as joint bookrunning managers for the transaction, with an expected closing date of August 31, 2026. Kazia intends to direct the capital toward the clinical development of its lead asset, paxalisib, a brain-penetrant inhibitor currently being studied across various oncology indications. The funding will also support general corporate needs as the company continues its research into immunotherapy resistance and other pipeline programs.