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Contingent consideration | 12 Months Ended
--- | ---
Jun. 30, 2022
Later than one year [member] |
Statement [line items] |
Contingent consideration | Note 16. Contingent c onsideration
|  | 2022 A$’000 |  |  | 2021 A$’000 |
Current Liabilities |  |  |  |  |  |  |  |
Contingent consideration – EVT801 |  |  | 759 |  |  |  | 3,165 |
|  |  | 759 |  |  |  | 3,165 |
Non-current Liabilities |  |  |  |  |  |  |  |
Contingent consideration - paxalisib |  |  | 1,168 |  |  |  | 1,015 |
Contingent consideration – EVT801 |  |  | 7,588 |  |  |  | 7,911 |
|  |  | 8,756 |  |  |  | 8,927 |
|  |  | 9,515 |  |  |  | 12,091 |
Reconciliations Reconciliation of the balance at the beginning and end of the reporting period is set out below:
|  | Consolidated |
|  | 2022 |  |  | 2021 |
|  | $ |  |  | $ |
Contingent consideration at start of period |  |  | 12,091 |  |  |  | 1,845 |
EVT801 acquisition |  |  | — |  |  |  | 11,076 |
Payment of paxalisib milestone |  |  | — |  |  |  | (3,400 | )
Payment of EVT801 milestone |  |  | (2,364 | ) |  |  | — |
Effect of exchange rates on contingent consideration |  |  | (364 | ) |  |  | — |
Loss on revaluation of contingent consideration |  |  | 152 |  |  |  | 2,570 |
|  |  | 9,515 |  |  |  | 12,091 |
Contingent consideration - paxalisib During the 2017 financial year, the consolidated entity acquired the rights to develop and commercialise paxalisib, as part of a business combination. The acquisition contained four contingent milestone payments, the first two milestone payment settlements being Kazia shares, and the third and fourth milestone payment settlements either cash or Kazia shares at the discretion of Kazia. Milestones 1 and 4 have now been paid out, and Milestone 3 has lapsed. Milestone 2 comprises shares to the value of $1,250,000. Each milest one payment is probability weighted for valuation purposes. The milestone payments are discounted to present value, using a discount rate of 15% per annum (15% - 2021). Kazia is also required to pay royalties to Genentech in relation to net sales. These payments are related to future financial performance, and are not considered as part of the consideration in relation to the Genentech agreement. In April 2022 the paxalisib Phase II clinical study was successfully completed and a final clinical study report received. Contingent consideration - EVT801 As set out in note 2, the acquisition of EVT801 has been accounted at cost as a separately acquired intangible asset with milestones where the payment is considered probable being booked as a current or non-current liability at year end, according to the estimated payment date. Milestones where the payment is not considered probable at year end have not been accounted for as a liability. The total amount of milestone payments not booked at year end amounts to €300,500,000 ($456,063,136).

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