** Shares in microcap Kazia Therapeutics KZIA.O jump 34% to $7.79 on Wednesday after it reported positive early stage results in one patient with stage IV triple-negative breast cancer treated under an FDA-authorized single-patient protocol combining Kazia's drug, paxalisib, with pembrolizumab (Keytruda®), from Merck & Co MRK.N

** Kazia said that, along with chemotherapy, the treatment of the patient with a highly aggressive metastatic cancer subtype achieved "an initial immune-complete response (iCR)" as per iRECIST criteria

** The Sydney-based co's latest results follow its October 2 report of an 86% reduction in tumor burden after three weeks of treatment in the same patient

** KZIA says the patient remains on therapy, under active clinical monitoring and that a follow-up scan will be conducted to confirm the initial scan

** KZIA has just 1.67 million shares outstanding and a market value of $9.6 million

** Session high of $8.54 was its highest level since September 11, when it also announced positive results. Shares still down slightly YTD after closing out 2024 at $8.85

** MRK shares were virtually unchanged at $96.52

(Reporting by Sinead Carew, Lance Tupper)

((sinead.carew@thomsonreuters.com))