Detailed financial statements for Kazia Therapeutics Ltd ADR (KZIA): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Kazia Therapeutics Limited, together with its subsidiaries, operates as an oncology-focused biotechnology company in Israel. The company's lead development candidate is paxalisib, a small molecule, brain-penetrant inhibitor of the phosphoinositide-3-kinase (PI3K)/AKT/mammalian target of rapamycin (mTOR) pathway, which is in Phase II/III clinical trial for the treatment of glioblastoma; in Phase II trial to treat isocitrate dehydrogenase-mutant glioma, primary central nervous...
Analysis Summary
Kazia Therapeutics Ltd ADR reported revenue of $42000 in the most recent fiscal year, growing at a 5-year CAGR of -46.8%.
Trailing-twelve-month margins: gross margin 100.0%, operating margin -920.9%, net margin -1130.0%.
At the current price of $10.20, KZIA has negative trailing earnings (P/E not meaningful) and an ROE of -116.86%. Market capitalisation stands at $17M.
Balance sheet quality for KZIA: current ratio of 0.4, net cash position of $3.9M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1M | $8.8M | $13108 | $1565 | $988110 | $15.2M | $10000 | $555 | $2.3M | $42000 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | $4.1M | $8.8M | $13108 | $1565 | $988110 | $15.2M | $10000 | $555 | $2.3M | $42000 |
| Research & Development | $9.9M | $11.1M | $9.8M | $6.5M | $9.5M | $14.5M | $20.2M | $15.6M | $17.4M | $7.3M |
| Selling, General & Admin | $5.8M | $8.5M | $5.6M | $3.8M | $3.7M | $7.0M | $5.2M | $8.6M | $13.6M | $8.7M |
| Operating Expenses | $15.6M | $19.7M | $14.7M | $10.3M | $13.2M | $21.6M | $25.4M | $24.1M | $30.8M | $14.3M |
| Operating Income | -$12.8M | -$10.9M | -$12.5M | -$8.4M | -$12.2M | -$6.4M | -$25.4M | -$24.1M | -$28.5M | -$14.2M |
| EBITDA | -$11.7M | -$9.4M | -$10.8M | -$7.7M | -$11.1M | -$5.1M | -$23.5M | -$22.3M | -$26.6M | -$13.3M |
| Interest Expense | 0 | 0 | 0 | $2.2M | 0 | 0 | $2094 | 0 | 0 | 0 |
| Pre-tax Income | -$12.2M | -$10.9M | -$6.3M | -$10.6M | -$12.8M | -$8.9M | -$25.4M | -$20.7M | -$27.0M | -$22.4M |
| Income Tax | $2.8M | -$198544 | -$305000 | -$298000 | -$298195 | -$484000 | -$368000 | -$271092 | -$271000 | -$1.7M |
| Net Income | -$12.1M | -$10.7M | -$6.0M | -$10.3M | -$12.5M | -$8.4M | -$25.0M | -$20.5M | -$26.8M | -$20.7M |
| EPS | $-135.20 | $-109.30 | $-59.80 | $-85.60 | $-80.00 | $-35.80 | $-95.00 | $-55.00 | $-55.00 | $-18.90 |
| EPS (Diluted) | $-135.20 | $-109.30 | $-59.80 | $-85.60 | $-80.00 | $-35.80 | $-95.00 | $-55.00 | $-55.00 | $-18.90 |
| Shares Outstanding (Diluted) | $89203 | $97634 | $100959 | $120007 | $152459 | $235400 | $265000 | $368600 | $479600 | $1.1M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $33.5M | $14.5M | $6.0M | $5.4M | $8.8M | $27.6M | $7.4M | $5.2M | $1.7M | $4.3M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $91000 | $5067 | $1130 | $1.6M | $439 | 0 | $51000 | $105000 | $133000 | $90000 |
| Inventory | $434000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $34.1M | $19.5M | $9.3M | $7.5M | $10.7M | $29.4M | $9.4M | $10.8M | $6.1M | $4.9M |
| Property, Plant & Equipment | $592000 | $489605 | $1000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | $822000 | $15.9M | $14.6M | $13.5M | $12.4M | $22.0M | $19.1M | $17.3M | $15.4M | $1.1M |
| Total Assets | $35.5M | $35.9M | $28.2M | $21.2M | $23.1M | $58.1M | $35.9M | $28.1M | $21.6M | $6.1M |
| Accounts Payable | $512000 | $1.2M | $1.4M | $1.1M | $1.7M | $1.9M | $1.5M | $857000 | $4.5M | $5.6M |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | $1.8M | $1.8M | $634000 | $396000 |
| Total Current Liabilities | $1.4M | $5.4M | $3.9M | $2.2M | $5.1M | $8.3M | $6.7M | $7.6M | $25.8M | $14.1M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $1.6M | $10.6M | $8.9M | $7.0M | $8.9M | $20.2M | $17.6M | $16.0M | $31.6M | $14.4M |
| Retained Earnings | -$160.5M | -$171.0M | -$14.6M | -$24.9M | -$36.2M | -$44.2M | -$68.6M | -$89.1M | -$115.1M | -$134.8M |
| Total Equity | $33.9M | $25.3M | $19.2M | $14.2M | $14.1M | $37.9M | $18.3M | $12.1M | -$10.0M | -$8.3M |
| Total Debt | $10000 | $10000 | $84000 | 0 | 0 | 0 | $1.8M | $1.8M | $634000 | $396000 |
| Net Debt | -$33.4M | -$14.4M | -$5.9M | -$5.5M | -$8.8M | -$27.6M | -$5.5M | -$3.4M | -$1.0M | -$3.9M |
| Working Capital | $32.7M | $14.1M | $5.4M | $5.3M | $5.6M | $21.1M | $2.7M | $3.2M | -$19.7M | -$9.1M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$12.2M | -$10.7M | -$6.0M | -$10.3M | -$12.5M | -$8.4M | -$25.0M | -$20.5M | -$26.8M | -$20.7M |
| Depreciation & Amortization | $643000 | $1.4M | $1.5M | $1.1M | $1.1M | $1.3M | $1.9M | $1.9M | $1.9M | $934000 |
| Stock-based Compensation | $372000 | $517000 | $165000 | $246000 | $262000 | $637000 | $1.7M | $1.2M | $533000 | $653000 |
| Change in Working Capital | -$715000 | -$4.0M | $1.5M | $353000 | $1.7M | -$5.6M | $862000 | $4.3M | $10.0M | -$3.0M |
| Operating Cash Flow | -$12.0M | -$11.4M | -$8.7M | -$6.7M | -$8.8M | -$9.1M | -$22.8M | -$15.2M | -$9.6M | -$13.3M |
| Capital Expenditure | -$525000 | -$11649 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | -$7.1M | 0 | 0 | 0 | 0 | -$2.4M | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$12.5M | -$11.4M | -$8.7M | -$6.7M | -$8.8M | -$9.1M | -$22.8M | -$15.2M | -$9.6M | -$13.3M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +115.9% | -99.9% | -88.1% | +63038.0% | +1436.6% | -99.9% | -94.5% | +415755.9% | -98.2% | |
| Net Income Growth (YoY) | +11.5% | +43.4% | -70.1% | -21.4% | +32.5% | -197.1% | +18.2% | -30.8% | +22.7% | |
| EPS Growth (YoY) | +19.2% | +45.3% | -43.1% | +6.5% | +55.2% | -165.4% | +42.1% | +0.0% | +65.6% | |
| Shares Change (YoY) | +9.5% | +3.4% | +18.9% | +27.0% | +54.4% | +12.6% | +39.1% | +30.1% | +128.4% | |
| FCF Growth (YoY) | +8.5% | +24.3% | +22.5% | -31.2% | -3.4% | -149.8% | +33.4% | +36.8% | -38.6% | |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -313.7% | -123.5% | -95262.4% | -535463.3% | -1234.3% | -42.0% | -253990.0% | -4346661.1% | -1233.2% | -33850.0% |
| EBITDA Margin | -287.9% | -107.4% | -82506.9% | -492715.7% | -1124.3% | -33.7% | -235150.0% | -4013885.9% | -1152.2% | -31626.2% |
| Net Margin | -296.3% | -121.4% | -46071.1% | -656230.0% | -1261.7% | -55.5% | -250140.0% | -3687419.8% | -1160.2% | -49290.5% |
| FCF Margin | -307.2% | -130.2% | -66074.2% | -429009.6% | -891.6% | -60.0% | -227620.0% | -2730810.8% | -415.1% | -31614.3% |
| Effective Tax Rate | -22.8% | 1.8% | 4.8% | 2.8% | 2.3% | 5.4% | 1.4% | 1.3% | 1.0% | 7.8% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-140.19 | $-117.24 | $-85.79 | $-55.95 | $-57.79 | $-38.70 | $-85.89 | $-41.12 | $-19.98 | $-12.12 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $89203 | $97634 | $100959 | $120007 | $152459 | $235400 | $265000 | $368600 | $479600 | $1.1M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -116.86% |
| Return on Invested Capital | -36.21% |
| Return on Assets | -31.35% |
| Gross Margin | 100.00% |
| Operating Margin | -92086.45% |
| Net Margin | -113004.58% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 2.87 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -40.25 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -3.72 | -2.14 | -3.34 | -2.20 | -3.07 | -18.36 | -3.20 | -1.58 | -0.30 | -0.50 |
| P/B | 1.32 | 0.90 | 1.05 | 1.59 | 2.65 | 4.09 | 4.41 | 2.66 | -0.78 | -1.26 |
| P/S | 11.01 | 2.60 | 1539.11 | 14421.39 | 37.88 | 10.19 | 8060.35 | 57807.50 | 3.38 | 248.45 |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -313.7% | -123.5% | -95262.4% | -535463.3% | -1234.3% | -42.0% | -253990.0% | -4346661.1% | -1233.2% | -33850.0% |
| Net Margin | -296.3% | -121.4% | -46071.1% | -656230.0% | -1261.7% | -55.5% | -250140.0% | -3687419.8% | -1160.2% | -49290.5% |
Related companies: BDRX · CANF · CMND · CNSP · GRI · INM · OGEN
Explore sector: Healthcare · Biotechnology
More sections of KZIA: Overview · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Radar — undervalued stock signals · Investment Academy — learn to analyze stocks