KAZIA THERAPEUTICS ANNOUNCES PHASE II CLINICAL STUDY TO INVESTIGATE PAXALISIB IN RECURRENT/PROGRESSIVE IDH-MUTANT GRADE 2 & 3 GLIOMA

Kazia Therapeutics Limited (NASDAQ: KZIA; ASX: KZA), an oncology-focused drug development company, is pleased to announce that it is supporting the University of Sydney on a molecularly-guided phase II clinical study to examine paxalisib in adult patients with recurrentprogressive isocitrate dehydrogenase (IDH) mutant grade 2 and 3 glioma (G23 gliomas).

Kazia Therapeutics Limited Logo (PRNewsfoto/Kazia Therapeutics Limited)

The study, named LUMOS2, will be sponsored by the University of Sydney , and coordinated by NHMRC Clinical Trials Centre, University of Sydney , in collaboration with COGNO (Co-Operative Trials Group for Neuro-Oncology).

The study team will be led by Professor Hui Gan , Co-Director, Centre for Research Excellence in Brain Cancer and research clinician at the Olivia Newton-John Cancer Research Institute in Melbourne , VIC, who specializes in the investigation of novel therapies for brain cancer.

Key Points

  • The LUMOS2 study aims to investigate paxalisib and other targeted therapies in adult patients with grade 2 or 3 IDH-mutant gliomas. Paxalisib is already the subject of several studies in high-grade glioma, a category which includes diseases such as glioblastoma and Diffuse Intrinsic Pontine Glioma (DIPG).

  • Grade 2 and 3 gliomas represent a substantial unmet clinical need, with recurrent patients having a poor prognosis that is comparable to glioblastoma. The glioma patient population has been the subject of increasing focus for drug development companies, including Day One Biopharmaceuticals (NASDAQ: DAWN), Servier and Novartis (NYSE: NVS).

  • LUMOS2, an umbrella study with multiple arms, is expected to enroll up to 76 patients and will be a multi-centre study at several Australian sites, with the potential to expand internationally.

  • The study is funded by the Australian Government, through a Medical Research Future Fund (MRFF) grant, with Kazia's contribution consisting of study drug supply and in-kind support.

  • "We are delighted to have paxalisib as one of the interventional arms in the LUMOS 2 study," commented Professor Hui Gan , lead investigator on the study. "Relapsed IDH mutant gliomas are an important area of unmet need in brain cancer, and the LUMOS2 study builds on early phase II data seen with paxalisib in this population. LUMOS2 will complement some of the ongoing work with paxalisib evaluating the efficacy of the drug in high-grade gliomas, and we expect the study to add substantially to our understanding of this investigational drug in brain cancer."

Low Grade Glioma

Gliomas are the most common form of primary brain cancer, accounting approximately for a third of malignancies that originate in the brain. They are sub-classified into oligodendrogliomas or astrocytomas, according their morphology and the presence of characteristic molecular alterations. Grade 2 and 3 IDH mutant astrocytomas are collectively the next largest group after glioblastoma, comprising just over 20% of gliomas (with a rate of 0.016 per 2000 patients).

High Grade Gliomas (HGGs) include diseases such as glioblastoma (grade 4 glioma), and diffuse midline gliomas such as DIPG. Paxalisib has shown evidence of clinical activity in several forms of HGG.

G2/3 gliomas remain an area of significant unmet need, with very few FDA-approved therapies and limited response to repeated courses of radiotherapy. Whilst the disease is often well-controlled after first-line standard of care therapies, patients with recurrent disease unfortunately have a prognosis comparable to glioblastoma, and current treatment options may offer only limited effectiveness for these patients.

Clinical Study Design

LUMOS2 is a prospective, multi-centre, open-label, multi-arm, phase II, biomarker-directed, signal-seeking, umbrella clinical trial. Adults with progressive grade 2/3, IDH-mutant glioma at recurrence after prior treatment with radiotherapy and alkylating chemotherapy who are eligible and willing to undergo tumour resection in consultation with their treating physician will undergo molecular profiling, the results of which will serve as a recommendation to be assigned to a treatment arm. The primary objective of the study is to determine progression-free survival at six months (PFS6) with overall survival, response rate and health-related quality of life as secondary endpoints.

About Kazia Therapeutics Limited

Kazia Therapeutics Limited (NASDAQ: KZIA; ASX: KZA) is an oncology-focused drug development company, based in Sydney, Australia .

Our lead program is paxalisib, a brain-penetrant inhibitor of the PI3K / Akt / mTOR pathway, which is being developed to treat multiple forms of brain cancer. Licensed from Genentech in late 2016, paxalisib is or has been the subject of ten clinical trials in this disease. A completed phase II study in glioblastoma reported promising signals of clinical activity in 2021, and a pivotal study for registration, GBM AGILE, is ongoing, with final data expected in CY2023. Other clinical trials are ongoing in brain metastases, diffuse midline gliomas, and primary CNS lymphoma, with several of these having reported encouraging interim data.

Paxalisib was granted Orphan Drug Designation for glioblastoma by the US FDA in February 2018 , and Fast Track Designation for glioblastoma by the US FDA in August 2020 . In addition, paxalisib was granted Rare Pediatric Disease Designation and Orphan Designation by the US FDA for DIPG in August 2020 , and for atypical teratoid / rhabdoid tumours (AT/RT) in June 2022 and July 2022 , respectively.

Kazia is also developing EVT801, a small-molecule inhibitor of VEGFR3, which was licensed from Evotec SE in April 2021 . Preclinical data has shown EVT801 to be active against a broad range of tumour types and has provided compelling evidence of synergy with immuno-oncology agents. A phase I study commenced recruitment in November 2021 .

For more information, please visit www.kaziatherapeutics.com or follow us on Twitter @KaziaTx.

This document was authorized for release to the ASX by John Friend , Chief Executive Officer.

About the University of Sydney

As Australia's first university – founded in 1850 – the University of Sydney has a proud history of global leadership in education and research and inspiring people from all backgrounds to contribute to positive real-world change. The University of Sydney is a world-renowned teaching and research institution with research that combines the expertise and talents of scholars from many disciplines.

About University of Sydney , NHMRC Clinical Trials Centre

Based at the University of Sydney , the NHMRC Clinical Trials Centre designs and manages clinical trials. This includes responsibility for study coordination, monitoring, data acquisition and management and statistical analysis. The health economics, biostatistics, systematic reviews and biomarker teams at the NHMRC Clinical Trials Centre work with trial data and inform healthcare providers about best practice.

COGNO (Co-Operative Trials Group for Neuro-Oncology) and the NHMRC CTC collaborate to develop and conduct clinical trials that test interventions designed to improve care and outcomes for people affected by brain cancer.

Forward-Looking Statements

This announcement may contain forward-looking statements, which can generally be identified as such by the use of words such as "may," "will," "estimate," "future," "forward," "anticipate," or other similar words. Any statement describing Kazia's future plans, strategies, intentions, expectations, objectives, goals or prospects, and other statements that are not historical facts, are also forward-looking statements, including, but not limited to, statements regarding: the timing for results and data related to Kazia's clinical and preclinical trials, or third-party trials evaluating Kazia's product candidates, and Kazia's strategy and plans with respect to its programs, including paxalisib. Such statements are based on Kazia's expectations and projections about future events and future trends affecting its business and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including risks and uncertainties: associated with clinical and preclinical trials and product development, related to regulatory approvals, risks related to Kazia's executive leadership changes, and the related to the impact of global economic conditions, including disruptions in the banking industry. These and other risks and uncertainties are described more fully in Kazia's Annual Report, filed on form 20-F with the SEC, and in subsequent filings with the SEC. Kazia undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required under applicable law. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this announcement.

For More Information, Please Contact:
Jane Lowe
IR Department
jane.lowe@irdepartment.com.au
Phone: +61 411 117 774

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SOURCE Kazia Therapeutics Limited

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QX Resources

Large Basin Confirmed in Drillholes with Multiple Brine Horizon Targets - Liberty Lithium Brine Project USA

QX Resources Limited (ASX: QXR, ‘QXR’) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company’s two-hole diamond drill program (Table 1).

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QX Resources Ltd  Large Basin Confirmed in Drillholes at Liberty Lithium Brine

QX Resources Ltd Large Basin Confirmed in Drillholes at Liberty Lithium Brine

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company's two-hole diamond drill program (Table 1*).

- Drilling and geophysics indicate the existence of a large brine basin at Liberty Lithium Brine Project USA, with brine intersected over 400 m vertically.

o Geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging initial lithium assay results, aquifers and salinity.

- Lithium brine specialists have proposed additional drilling to intersect deep lithium brines in the centre of the basin, in a more favourable setting, further west of recent drilling.

- Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA, including with Stardust who aim to IPO in June.

- QXR and IG Lithium Option Agreements are being amended to facilitate undertaking further drilling.

- QXR aims to provide an update soon on progress with gold exploration in Queensland.

Porous conglomerates saturated with brines were intersected beneath fine grained lake sediments with sandy layers. The geology intersected is very encouraging as it is similar to the producing sequences of Clayton Valley Nevada, where Albemarle's producing lithium brine deposit is located. Detailed downhole geophysics together with initial downhole brine sampling (packer sampling) shows increasing salinity with depth, together with large brine volumes, both encouraging for discovering a potentially economic lithium brine deposit in the properties.

Although the maximum lithium assay values were 50mg/l Li over 15 metres near the base of hole #2 (Table 2*), the salinity and conductivity increased with depth, at levels similar to known producers. Ingress of fresh water into the aquifers may explain the lower lithium values in drill holes #1 and #2 being located close to a range front fault on the edge of the basin. These initial holes were located near the edge of the basin in part for logistics and access reasons as well as the surface lithium anomaly.

Hole #2 also intersected thick porous brine horizons - critical for future success- which is considered encouraging, together with the geological similarity to Clayton Valley NV (Albemarle's Silver Peak mine). These similarities include basal porous conglomerate units containing brine beneath finer grained lake sediments.

However, the best producing horizons at Clayton Valley are tuff units within the sediment package which have not been intersected in drillholes to date, but which outcrop 4km to the southwest of hole #2 (Figure 4*).

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting. Lithium brine specialists have advised additional drilling is required to potentially intersect deep lithium brines in the centre of the basin, further west of drilling undertaken by QXR, based on lab results to date.

QXR Managing Director, Stephen Promnitz, said: "QXR has defined a new large scale brine basin, saturated with brines, at the Liberty Lithium Brine Project. A large near-surface brine field with lithium potential is rare to date in the USA. The geological setting, with conglomerates loaded with brines, is similar to Albemarle's producing deposit. We are yet to find tuff horizons similar to Clayton Valley, which are the best brine aquifers - although they do outcrop nearby, suggesting they may exist within the basin. Surface and downhole geophysics make it compelling for further drilling to the west, in the centre of the basin under deeper sediments, which may intersect higher grade lithium brine, compared to the drilling to date."

Next Steps

Applications for further drillholes were submitted some time ago. To provide operational flexibility, an amended drill program has been submitted to regulators for approval. Bulk volumes of brine will be submitted for testwork with selected direct lithium extraction (DLE) providers, as well as with lithium refiner Stardust Power Inc, with whom QXR holds at Letter of Intent (ASX announcement 29 Feb 2024). Stardust expects to list on NASDAQ in June via a c.US$490m deal and then plans to build a lithium refinery in Oklahoma.

Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA.

QXR and IG Lithium are currently discussing amendments to the Option Agreements to facilitate the undertaking of further drilling.

Background

The Liberty Lithium Brine Project, located in SaltFire Flat, California, covers contiguous claims over 102km2 (25,300 acres), being one of the largest single lithium brine projects in the USA (Figure 1*). The Company entered an Option to Purchase Agreement and an Operating Agreement (Option Agreements) to earn a 75% interest in the large scale Liberty Lithium brine project in California, USA, from vendor IG Lithium LLC (ASX announcement 5 October 2023). Based on results received to date, the Company is currently in discussion with IG Lithium regarding potential renegotiation of the Option Agreements to allow a longer period of time to conduct additional drilling prior to any future commitments.

Two vertical diamond drill holes were completed (369m & 443 metres depth), spaced 4km apart (Figure 2, 3*).

Holes were centred over an extensive lithium brine surface anomaly and significant MT geophysical target, interpreted as a series of conductive brine bearing aquifers at depth. Brine horizons were intersected in both holes with numerous brine aquifers intersected in drillhole #2 (ASX announcement 8 Feb 2024).

QXR entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the lithium brines from the Liberty Lithium Brine Project. The parties intend to evaluate options to potentially supply Stardust Power with lithium brine products, dependent on results, on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles (ASX announcement 29 Feb 2024). The Company plans to share the results of the two hole drill program with Stardust as part of ongoing discussions.

Drillholes

Drillhole #1 (LLD23001) was completed at 369 metres depth. Target horizons were intersected at 49m depth and 329m depth. Fine grained sediments, gravels and coarse alluvial fan material were intersected down the length of the hole. An interpretation is that the drillhole went through the range front fault at 249m depth.

Drillhole #2 (LLD24002) was completed at 433 metres depth, located 4km to the south of drillhole #1. Both drillholes were centred over significant MT geophysical targets interpreted as a series of conductive brine bearing aquifers at depth. Both holes were positioned within an extensive lithium brine surface anomaly of over 10km defined in auger samples. An interpretation is that the drillhole went through the range front fault at 370m depth.

Figures 5 shows the increase in lithium and chloride concentration in brine with increasing depth. Figures 6-8* show interpretations of the possible geology on MT geophysical lines and the location of proposed drill holes.

The location of the proposed drill holes is also shown in Figure 9*.

Recommendations

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting, and others who have closely reviewed the geological setting of Albemarle's Silver Peak lithium brine producer in Clayton Valley, Nevada. Their recommendations included additional drilling further west of drilling undertaken by QXR, to potentially intersect deep lithium brines in the centre of the basin, based on lab results to date. Surface and downhole geophysics suggests that the basin is angled to the west with deeper sediments and brines to the west of recent drilling. Further, the geochemistry of the brine samples may suggest an ingress of fresh water into the aquifers, resulting in lower lithium grade in the two holes drilled to date, as the holes were drilled adjacent to a range front fault with significant fresh water inflows into the basin, along the basin edge.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/C58T0H5U



About QX Resources Ltd:

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has acquired a controlling interest in four projects through targeted M&A - all of which sit in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) now spans more than 350 km2.

Gold portfolio: QXR is also developing two Central Queensland gold projects - Lucky Break and Belyando - through an earn-in agreement with Zamia Resources Pty Ltd. Both gold projects are strategically located within the Drummond Basin, a region that has a >6.5moz gold endowment.

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