77 Kazia Theraputics Limited Annual Report 2023 Chairman and CEO’s Letter Key Milestones Introduction to Kazia’s CEO Pipeline Review Environment, Society and Governance Financial Reports Based on the above assumptions, the table below sets out the valuation for each tranche of options: Tranche Grant date Expiry date Share price at Grant Date Exercise price Volatility (%) Dividend yield (%) Risk free Rate (%) Fair value per option 1 13/11/2019 04/01/2024 $0.4100 $0.4925 74.50% - 1.95% $0.18000 2 13/01/2020 13/01/2025 $0.6200 $0.8812 74.50% - 1.95% $0.34000 3 09/11/2020 13/11/2024 $0.8900 $1.1320 90.00% - 0.10% $0.41300 4 09/11/2020 13/01/2025 $0.8900 $0.8812 90.00% - 0.10% $0.50300 5 04/01/2021 04/01/2025 $1.1850 $1.1690 90.00% - 0.19% $0.60000 6 09/09/2021 21/06/2026 $1.4200 $1.3700 76.00% - 1.50% $0.88000 7 16/11/2021 16/11/2025 $1.5700 $1.6900 76.00% - 1.50% $0.85000 8 16/11/2021 16/11/2025 $1.5700 $2.2400 76.00% - 1.50% $0.75000 9 16/11/2021 16/11/2026 $1.5700 $1.5600 76.00% - 1.50% $0.97000 10 01/02/2022 01/02/2027 $0.9600 $0.9400 79.00% - 1.50% $0.59000 11 24/05/2022 24/05/2027 $0.8000 $0.7800 44.00% - 2.95% $0.63000 12 03/01/2023 03/03/2027 $0.1700 $0.1500 80.00% - 3.64% $0.10137 13 03/03/2023 03/03/2027 $0.1700 $0.1500 80.00% - 3.64% $0.10137 14 03/05/2023 03/05/2027 $0.1900 $0.1870 80.00% - 3.22% $0.11110 Note 33. Subsequent events Fast Track Designation from US FDA for paxalisib Paxalisib was awarded Fast Track Designation (FTD) by the United States Food and Drug Administration (FDA) for the treatment of solid tumour brain metastases harbouring PI3K pathway mutations in combination with radiation therapy. The FDA’s decision to grant FTD was based on promising clinical data from an interim analysis of an ongoing Phase 1 clinical trial in which patients with brain metastases from a primary tumour are receiving paxalisib in combination with radiotherapy (NCT04192981). These clinical data were presented at the 2022 Annual Conference on CNS Clinical Trials and Brain Metastases, jointly organized by the Society for Neuro-Oncology (SNO) and the American Society for Clinical Oncology (ASCO), by Dr. Jonathan Yang, lead investigator in the clinical trial. All nine evaluable patients in the trial (100%) responded to the combination of paxalisib with radiotherapy. Published benchmarks suggest a typical response rate for radiotherapy alone to be around 20-40%. Fast Track Designation is designed to expedite development of pharmaceutical products which demonstrate the potential to address unmet medical needs in serious or life threatening conditions. It provides Kazia with enhanced access to FDA, including opportunities for face-to-face meetings and written consultation throughout the remaining development of paxalisib. Drugs granted FTD may also be eligible for Accelerated Approval and Priority Review, which may result in faster product approval. Paxalisib was previously granted FTD for glioblastoma in August 2020, giving paxalisib now two largely independent opportunities to access the benefits of this designation. At-The-Market (ATM) Facility During the month of July 2023 through 7 August 2023, the Company raised total proceeds for the period of US$1,019,769 (A$1,540,918). increasing the total shares outstanding to 236,349,374. Shares issued under the ATM are issued at the spot market price, with no discount, no accompanying warrants or options, and with banking fees approximately half of those associated with more traditional financing methods. Resignation of chairman Kazia announced that Dr John Friend joined the Kazia Board as Managing Director on 1 August 2023. Kazia announced the resignation of Mr. Iain Ross as Chairman and non-executive director on 11 August 2023. The Board of Directors elected Dr John Friend as Interim Chairman on 11 August 2023. No other matter or circumstance has arisen since 30 June 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. Note 32. Share-based payments continued
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