** Shares of drug developer Kazia Therapeutics
fall 3.2% to $3 premarket
** KZIA says after discussions, US FDA said data from its mid-to-late stage cancer study "would generally not be appropriate for accelerated approval, but could be considered to support a standard approval"
** Co in July conducted a mid-to-late stage study testing its experimental drug, paxalisib, in patients with glioblastoma- a type of cancer that starts as a growth of cells in the brain
** Said paxalisib increased survival by 3.8 months in the study vs standard of care in patients with glioblastoma
** KZIA says it has aligned with FDA on the design of a late-stage study to test the drug
** Co says it continues to test the drug in pediatric brain cancer and brain metastases as it evaluates its next steps for the drug
** Up to last close, stock down 29.5% YTD
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.