Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
   Rule 13d-1(b)
   Rule 13d-1(c)
   Rule 13d-1(d)




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SCHEDULE 13G




Comment for Type of Reporting Person:  (1) The figures in Items 6, 8, and 9 represent American depository shares ("American Depository Shares"), each representing five-hundred ordinary shares ("Ordinary Shares") of Kazia Therapeutics Limited (the "Issuer"), that may be acquired by Ikarian Healthcare Master Fund, L.P., a Cayman Islands exempted limited partnership (the "Fund"), and certain separately managed accounts, within 60 days upon the deposit of Ordinary Shares with the transfer agent. See Item 2 for more information. (2) The figures in Items 6, 8, and 9 include 179,577 American Depository Shares of the Issuer that may be acquired by the Reporting Persons within 60 days pursuant to warrants held by the Reporting Persons, the exercise of which are subject to certain restrictions on the ability of the Reporting Person to convert such warrants if, upon such conversion, the number of American Depository Shares then beneficially owned by the Reporting Persons would exceed 4.99% of the outstanding American Depository Shares. (3) The figure in Item 11 is based upon 11,515,568 American Depository Shares of the Issuer, which includes 179,577 American Depository Shares that may be acquired pursuant to warrants and the 11,335,991 American Depository Shares of the Issuer outstanding as of December 11, 2025 (assuming all outstanding Ordinary Shares were represented by American Depository Shares), as disclosed in the Issuer's Registration Statement on Form F-1, filed with the U.S. Securities and Exchange Commission (the "SEC") on December 19, 2025.


SCHEDULE 13G




Comment for Type of Reporting Person:  (1) The figures in Items 6, 8, and 9 represent American Depository Shares of the Issuer that may be acquired by Ikarian Healthcare Master Fund, L.P., a Cayman Islands exempted limited partnership (the "Fund"), and certain separately managed accounts, within 60 days upon the deposit of Ordinary Shares with the transfer agent. See Item 2 for more information. (2) The figures in Items 6, 8, and 9 include 179,577 American Depository Shares of the Issuer that may be acquired by the Reporting Persons within 60 days pursuant to warrants held by the Reporting Persons, the exercise of which are subject to certain restrictions on the ability of the Reporting Person to convert such warrants if, upon such conversion, the number of American Depository Shares then beneficially owned by the Reporting Persons would exceed 4.99% of the outstanding American Depository Shares. (3) The figure in Item 11 is based upon 11,515,568 American Depository Shares of the Issuer, which includes 179,577 American Depository Shares that may be acquired by the Reporting Persons pursuant to warrants and the 11,335,991 American Depository Shares of the Issuer outstanding as of December 11, 2025 (assuming all outstanding Ordinary Shares were represented by American Depository Shares), as disclosed in the Issuer's Registration Statement on Form F-1, filed with the SEC on December 19, 2025.


SCHEDULE 13G



 
Ikarian Capital, LLC
 
Signature:/s/ Neil Shahrestani
Name/Title:Neil Shahrestani, Sole Manager
Date:08/14/2026
 
Neil Shahrestani
 
Signature:/s/ Neil Shahrestani
Name/Title:Neil Shahrestani
Date:08/14/2026
Exhibit Information

A Joint Filing Agreement is incorporated herein by reference to Exhibit 99.1 to the Schedule 13G filed on February 17, 2026 by the Reporting Persons with the SEC.