KZR Kezar Life Sciences Inc.

5.03
-0.13  -3%
Previous Close 5.16
Open 5.53
52 Week Low 2.18
52 Week High 9.79
Market Cap $232,669,109
Shares 46,256,284
Float 38,468,121
Enterprise Value $87,140,425
Volume 874,841
Av. Daily Volume 235,378
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Upcoming Catalysts

Drug Stage Catalyst Date
KZR-616 (MISSION)
Lupus
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
KZR-616
Dermatomyositis and polymyositis
Phase 2
Phase 2
Phase 2 trial is enrolling.

Latest News

  1. Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today highlighted data from the Phase 1b portion of the MISSION study demonstrating safety, tolerability and early efficacy signals of KZR-616 in patients with systemic lupus erythematosus (SLE) and lupus nephritis (LN) at the Pan-American Congress of Rheumatology (PANLAR 2020). The data were presented in a poster titled "Treatment of Systemic Lupus Erythematosus with the Immunoproteasome Inhibitor KZR-616: Results from the First 5 Cohorts of the MISSION Study, an Open-label Phase 1b Dose-Escalation Study" by study investigator Richard Furie, M.D., Chief, Division of Rheumatology…

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today highlighted data from the Phase 1b portion of the MISSION study demonstrating safety, tolerability and early efficacy signals of KZR-616 in patients with systemic lupus erythematosus (SLE) and lupus nephritis (LN) at the Pan-American Congress of Rheumatology (PANLAR 2020). The data were presented in a poster titled "Treatment of Systemic Lupus Erythematosus with the Immunoproteasome Inhibitor KZR-616: Results from the First 5 Cohorts of the MISSION Study, an Open-label Phase 1b Dose-Escalation Study" by study investigator Richard Furie, M.D., Chief, Division of Rheumatology, Northwell Health in New York. The poster can be found on Kezar's corporate website under the "Science" section.

    "Lupus and lupus nephritis are life-threatening diseases that disproportionately impact young Latina women in the prime of their life, and there is an urgent need for new treatment options that can target the full spectrum of their disease and don't cause debilitating side effects that add to the disease burden," said Dr. Furie. "These encouraging early positive data suggest that the novel mechanism of KZR-616 has the potential to address the underlying drivers of inflammation, resulting in improvements across organ systems in this disease."

    MISSION is a Phase 1b/2 study of KZR-616 in SLE patients with and without nephritis. The Phase 1b portion has completed enrollment in the final cohort, which is evaluating a 75 mg dose of KZR-616. The Phase 2 portion exclusively in LN is actively enrolling.

    As of the May 4, 2020 data analysis, 39 patients were enrolled in the MISSION Phase 1b study across five dose cohorts evaluating 45 mg and step-up dosing to 60 mg weekly for 13 weeks. Patients are followed to week 25 and kept on stable background treatment. At this time point, 22 patients completed 13 weeks of treatment and are included in the exploratory efficacy measures reported below:

    • Patients with increased DNA antibodies (serologic markers of SLE disease activity) at baseline that completed through week 25 of the study showed decreased titers following treatment.

    Percent (%) Change from Baseline

     

    Mean Anti-

    dsDNA Level,

    IU/mL (Baseline)

    End of

    Treatment

    (Week 13)

    End of

    Study

    (Week 25)

    Patient A

    1015

    -64.0

    -82.0

    Patient B

    87

    -20.7

    -33.3

    Patient C

    32

    -6.3

    -18.8

    Patient D

    134

    -60.4

    -54.5

    Patient E

    90

    -76.7

    -68.9

    As previously reported:

    • Notably, two of two patients with active proliferative LN, despite being on stable background therapy, saw a greater than 50% decrease from baseline in proteinuria, a biomarker of disease severity. Both patients also experienced reductions in SLEDAI-2K and reductions in anti-dsDNA (double-stranded DNA) antibody levels.
    • Among patients completing treatment, all seven measures of disease activity improved (decrease in score) in the majority of patients from Baseline to Week 13. Improvement in disease activity persisted following the end-of-treatment.
    • Step-up dosing of KZR-616 improved overall tolerability. Most patients had mild (87.2%) or moderate (30.8%) TEAEs, which occurred early and diminished with later doses. The most common treatment emergent adverse events were transient injection site reactions.
    • To date, no patients have discontinued treatment in Cohorts 2b and 2c, which utilize a lyophilized formulation of KZR-616.

    About MISSION

    MISSION (NCT03393013) is a Phase 1b/2 clinical trial evaluating KZR-616 in SLE patients with and without nephritis. The study consists of two parts. The Phase 1b portion is an open-label dose escalation study which is evaluating doses up to 75 mg of KZR-616 across 6 cohorts, which has completed enrollment. The primary objective of the Ph1b portion of MISSION is to assess safety and tolerability. Secondary objectives include evaluating pharmacokinetics (PK) and pharmacodynamics (PD) and selecting dose levels for the Phase 2 trials. Several exploratory efficacy measures are also being assessed: Systemic Lupus Erythematosus Disease Activity Index 2000 (SLEDAI-2K), Cutaneous Lupus Erythematosus Severity Index-Activity (CLASI-A), Tender and Swollen Joint Counts (TJC/SJC), Physician Global Assessment (PhGA), Patient Global Assessment (PtGA) and Patient Assessment of Pain (PtP). The Phase 2 portion of the MISSION study evaluating KZR-616 in patients with LN is currently enrolling.

    About KZR-616

    KZR-616 is a novel, first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases. Preclinical research demonstrates that selective immunoproteasome inhibition results in a broad anti-inflammatory response in animal models of several autoimmune diseases, while avoiding immunosuppression. Data generated from Phase 1a and 1b trials provide evidence that KZR-616 exhibits a favorable safety and tolerability profile for development in severe, chronic autoimmune diseases. Phase 2 trials are underway in severe autoimmune diseases.

    About Kezar Life Sciences

    Based in South San Francisco, Kezar Life Sciences is combining courage, conviction and cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function and inhibit multiple drivers of disease via a single target. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from the company's protein secretion program targeting the Sec61 translocon, is undergoing IND-enabling activities. For more information, visit www.kezarlifesciences.com, and follow us on Twitter at @KezarBio, Facebook and LinkedIn.

    Cautionary Note on Forward-looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Kezar's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Kezar's clinical development programs, future results or performance to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the likelihood that data will support future development, the association of data with treatment outcomes, the design, progress, timing, scope and results of clinical trials, the anticipated timing of disclosure of results of clinical trials and the likelihood of obtaining regulatory approval of Kezar's product candidates. Many factors may cause differences between current expectations and actual results, including the impacts of the COVID-19 pandemic on the company's business, clinical trials and financial position, unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Kezar's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" contained therein. Except as required by law, Kezar assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

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  2. -Engaging with patient community and presenting overview of PRESIDIO study at The Myositis Association's (TMA) International Annual Patient Conference

    -Scientific poster presentation on MISSION Phase 1b study data at 22nd Pan-American Congress of Rheumatology 2020 (PANLAR 2020)

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced company presentations and participation at upcoming patient and medical conferences.

    "We look forward to engaging with patients and their care partners at The Myositis Association's 2020 Virtual International Patient Conference. We are impressed with TMA and their strong advocacy…

    -Engaging with patient community and presenting overview of PRESIDIO study at The Myositis Association's (TMA) International Annual Patient Conference

    -Scientific poster presentation on MISSION Phase 1b study data at 22nd Pan-American Congress of Rheumatology 2020 (PANLAR 2020)

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced company presentations and participation at upcoming patient and medical conferences.

    "We look forward to engaging with patients and their care partners at The Myositis Association's 2020 Virtual International Patient Conference. We are impressed with TMA and their strong advocacy for patients with autoimmune myositis, a true unmet medical need. PRESIDIO, our Phase 2 study of KZR-616 for the treatment of patients with polymyositis and dermatomyositis was designed with the needs of patients in mind," said Noreen Henig, MD, Kezar's Chief Medical Officer. "We are also excited to present our MISSION Phase 1b trial of KZR-616 in lupus and lupus nephritis patients at PANLAR. These severe and often debilitating diseases disproportionately affect Latina women, and this is an important venue to share our data and assess the unique needs of our Pan-American colleagues. The MISSION Phase 1b study has fully enrolled the sixth and final cohort, bringing us one step closer to understanding the safety, tolerability, and appropriate doses of KZR-616 for the treatment of an array of rare and severe autoimmune diseases."

    The Myositis Association's (TMA) Virtual 2020 International Annual Patient Conference

    Kezar Life Sciences will provide information on KZR-616 and the PRESIDIO trial, a Phase 2 study of KZR-616 to evaluate safety and efficacy in patients with polymyositis (PM) and dermatomyositis (DM). In addition to showcasing a new patient-focused video on the mechanism of action of KZR-616, the company will also have a virtual exhibit booth to engage with the myositis patient and physician community.

    • Presentation: The PRESIDIO Study: A Clinical Trial of the Immunoproteasome Inhibitor, KZR-616, for the treatment of PM and DM
    • Presenters: Noreen Henig, MD, Chief Medical Officer, Kezar Life Sciences, and MK Farmer, MD, Senior Medical Director, Kezar Life Sciences
    • Date and Time: September 11, 2020 at 1:15 – 2:30 pm EDT
    • Learn More & Register for the Conference: https://www.myositis.org/myositis-library/annual-patient-conference/

    22nd Pan-American Congress of Rheumatology 2020 (PANLAR 2020)

    Kezar Life Sciences will present interim data in a scientific poster session from the Phase 1b portion of MISSION, a Phase 1b/2 clinical trial of KZR-616 for the treatment of lupus and lupus nephritis.

    • Poster Presentation: Treatment of Systemic Lupus Erythematosus with the Immunoproteasome Inhibitor KZR-616: Results from the First 5 Cohorts of the MISSION Study, an Open-label Phase 1b Dose-Escalation Study
    • Session: Lupus y otros trastornos autoinmunes sistémicos/Lupus and other systemic autoimmune disorders
    • Presenter: Richard Alan Furie, MD, Chief of the Division of Rheumatology, Northwell Health
    • Date and Time: September 17, 2020, 9:00am – 8:00pm EDT
    • Learn more & Register for the Conference: https://congreso-panlar.com/virtual-congress/

    About KZR-616

    KZR-616 is a novel, first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases. Preclinical research demonstrates that selective immunoproteasome inhibition results in a broad anti-inflammatory response in animal models of several autoimmune diseases, while avoiding immunosuppression. Data generated from Phase 1a and 1b trials provide evidence that KZR-616 exhibits a favorable safety and tolerability profile for development in severe, chronic autoimmune diseases. Phase 2 trials are underway in severe autoimmune diseases.

    About Kezar Life Sciences

    Based in South San Francisco, Kezar Life Sciences is combining courage, conviction and cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function and inhibit multiple drivers of disease via a single target. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from the company's protein secretion program targeting the Sec61 translocon, is undergoing IND-enabling activities. For more information, visit www.kezarlifesciences.com, and follow us on Twitter at @KezarBio, Facebook and LinkedIn.

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  3. Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer, today announced members of the executive team will present during upcoming virtual investor conferences. The details of the presentations are as follows:

    Wells Fargo 2020 Virtual Biotech Conference
    Fireside Chat: Thursday, September 10, 2020, 1:20pm EDT
    Presenters: John Fowler, Chief Executive Officer; Noreen Henig, MD, Chief Medical Officer, Christopher Kirk, PhD, Chief Scientific Officer

    H.C. Wainwright 22nd Annual Global Investment Conference
    Presentation: Monday, September 14, 2020, 4:30pm EDT
    Presenter: Celia Economides, SVP, Strategy and External…

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer, today announced members of the executive team will present during upcoming virtual investor conferences. The details of the presentations are as follows:

    Wells Fargo 2020 Virtual Biotech Conference

    Fireside Chat: Thursday, September 10, 2020, 1:20pm EDT

    Presenters: John Fowler, Chief Executive Officer; Noreen Henig, MD, Chief Medical Officer, Christopher Kirk, PhD, Chief Scientific Officer

    H.C. Wainwright 22nd Annual Global Investment Conference

    Presentation: Monday, September 14, 2020, 4:30pm EDT

    Presenter: Celia Economides, SVP, Strategy and External Affairs

    The fireside chat and presentation will be webcast live and may be accessed on the "Events & Presentations" section of the Company's website at https://investors.kezarlifesciences.com/. Kezar Life Sciences will maintain an archived replay of the webcasts on its website for 90 days after the conference.

    About Kezar Life Sciences

    Based in South San Francisco, Kezar Life Sciences is combining courage, conviction, and cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function and inhibit multiple drivers of disease via a single target. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from the company's protein secretion program targeting the Sec61 translocon, is undergoing IND-enabling activities.

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  4. Conference call and webcast today at 4:30pm EDT

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced its second quarter 2020 financial results and corporate highlights.

    "Our excitement continues to build around the novel mechanism of KZR-616 and supports our conviction that targeting master regulators of cellular function – like the immunoproteasome – can benefit patients in need," said John Fowler, Kezar's Chief Executive Officer. "Our recent fundraising has established a strong balance sheet to allow us to prosecute our robust pipeline."

    Noreen Henig, M.D., Kezar's Chief Medical Officer added, "We…

    Conference call and webcast today at 4:30pm EDT

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today announced its second quarter 2020 financial results and corporate highlights.

    "Our excitement continues to build around the novel mechanism of KZR-616 and supports our conviction that targeting master regulators of cellular function – like the immunoproteasome – can benefit patients in need," said John Fowler, Kezar's Chief Executive Officer. "Our recent fundraising has established a strong balance sheet to allow us to prosecute our robust pipeline."

    Noreen Henig, M.D., Kezar's Chief Medical Officer added, "We are encouraged by the striking early signs of efficacy and the favorable safety and tolerability we've seen with KZR-616 and believe in its potential to be a profound treatment option for a wide array of autoimmune diseases. Based on recent events, we plan to adjust our clinical development plans to optimize and expedite the development pathway for KZR-616. In addition, activities related to KZR-261, the first molecule to come forward from our protein secretion inhibition platform, continue as planned for an IND submission in the first quarter of 2021."

    Clinical Highlights & Updates

    KZR-616 – Selective Immunoproteasome Inhibitor

    KZR-616 is currently being evaluated for the treatment of severe autoimmune diseases.

    • On June 3, 2020, Kezar provided a data update from the Phase 1b portion of the MISSION study. Overall, improvements were seen across seven measures of disease activity in a majority of patients, and two of two patients with lupus nephritis (LN) experienced a greater than 50% reduction in proteinuria, a biomarker of disease severity. A positive safety and tolerability profile was observed with step-up dosing of KZR-616. The Phase 1b dataset builds on the safety and tolerability evaluation performed in 100 healthy subjects from two Phase 1a studies.
    • Based upon the positive results from the Phase 1b portion of MISSION and acknowledging the recent slowdown in recruitment activities across clinical trials due to the COVID-19 pandemic, Kezar has reviewed and adapted its clinical plans to optimize the development pathway for KZR-616. Kezar will be focusing all development efforts on 60 mg and 45 mg once-weekly subcutaneous dosing of KZR-616. This decision is based on the positive safety and tolerability, pharmacology, and clinical activity results seen to date.
    • The revised clinical plan for the MISSION Phase 2 trial in patients with active, proliferative lupus nephritis include the following updates:
      • The Phase 2 protocol has been amended, and the primary endpoint has been changed from safety and tolerability to an efficacy endpoint of renal response measured by 50% or greater reduction in urine protein to creatinine ratio (UPCR) at six months. This study is now open for enrollment under the amended protocol.
        • The inclusion/exclusion criteria of the study have been expanded to include LN patients with histologic Class III or IV +/- Class V being treated with current standard-of-care. The open-label clinical trial is designed to enroll 20 patients with a single treatment arm evaluating a 60 mg dose (with first dose of 30 mg) of KZR-616 administered subcutaneously once weekly for 24 weeks.
      • Interim data are expected in late 2021. To allow for responding patients to continue treatment with KZR-616, a 12-month extension study is being planned.
    • The PRESIDIO Phase 2 trial of KZR-616 in dermatomyositis and polymyositis continues to enroll. A 12-month open-label extension study is being planned and will be available for patients completing the trial.
    • The MARINA study in patients with autoimmune hemolytic anemia and immune thrombocytopenia has been withdrawn. A combination of COVID-related slowdowns in screening activities and a need to substantially amend the current protocol to reduce high screen failure rates factored into this decision. No new clinical data has informed this decision, and Kezar's scientific conviction level remains high that KZR-616 could be an important new therapy for patients with these serious diseases. Data from KZR-616 in other studies will inform the optimal strategy for the development of this product candidate in these indications.

    KZR-261 – Protein Secretion Program

    • KZR-261, a first-in-class protein secretion inhibitor, targets the Sec61 translocon and has demonstrated broad anti-tumor activity in preclinical models of both solid and hematologic malignancies. Additional preclinical data further detailing the ability of novel Sec61 inhibitors to exhibit broad anti-cancer activity with minimal toxicity in vitro and in vivo was presented in an e-poster during the American Society of Clinical Oncology (ASCO20) Virtual Scientific Program at the end of May.
    • An Investigational New Drug application for KZR-261 is planned for submission in the first quarter of 2021. The first-in-human clinical trial will evaluate dose escalation and safety and tolerability in patients with solid tumors.

    Business Update

    • On June 11, 2020, Kezar closed an underwritten public offering with gross proceeds of approximately $46.7 million, before deducting underwriting discounts and commissions and offering expenses. In the public offering, Kezar issued and sold 7,590,909 shares of common stock at $5.50 per share and pre-funded warrants to purchase 909,091 shares of common stock at $5.499 per share, with an exercise price of $0.001 per share. In July, Kezar issued and sold an additional 427,707 shares of common stock at $5.50 per share, pursuant to the exercise by the underwriters of their option to purchase additional shares, with gross proceeds of approximately $2.4 million.

    Financial Results

    • Cash, cash equivalents and marketable securities totaled $157.5 million as of June 30, 2020, compared to $78.2 million as of December 31, 2019. The increase in cash, cash equivalents and marketable securities was primarily attributable to the net proceeds from the underwritten public offerings in February and June 2020, net of cash used by the Company in operations to advance its clinical stage programs and preclinical research and development.
    • Research and development expenses for the second quarter of 2020 increased by $0.2 million to $7.1 million, compared to $6.9 million in the second quarter of 2019. This increase was primarily related to advancing the protein secretion preclinical program.
    • General and administrative expenses for the second quarter of 2020 increased by $0.3 million to $2.7 million, compared to $2.4 million in the second quarter of 2019. The increase was primarily due to an increase in personnel expenses, including non-cash stock-based compensation.
    • Net loss for the second quarter of 2020 was $9.5 million, or $0.22 per basic and diluted common share, compared to a net loss of $8.7 million, or $0.46 per basic and diluted common share, for the second quarter of 2019.
    • Total shares of common stock outstanding were 45.8 million as of June 30, 2020. Additionally, there were outstanding pre-funded warrants to purchase 3.8 million shares of common stock at an exercise price of $0.001 per share and outstanding options to purchase 4.5 million shares of common stock at a weighted average exercise price of $6.09 per share as of June 30, 2020.

    Conference Call and Webcast Information

    Kezar will be a hosting a conference call and webcast at 4:30 EDT today. To access the live conference call via phone, dial 877-407-9711 (U.S. toll-free) or 412-902-1014 (toll). No conference ID is required. Additionally, a live webcast of the call will be available under the Events section of Kezar's Investor Relations (IR) site at http://investors.kezarlifesciences.com/. An archived replay of the call will be available on the company's IR site for 90 days following the live call.

    About KZR-616

    KZR-616 is a novel, first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases. Preclinical research demonstrates that selective immunoproteasome inhibition results in a broad anti-inflammatory response in animal models of several autoimmune diseases, while avoiding immunosuppression. Data generated from Phase 1a and 1b trials provide evidence that KZR-616 exhibits a favorable safety and tolerability profile for development in severe, chronic autoimmune diseases. Phase 2 trials are underway in severe autoimmune diseases.

    About KZR-261

    KZR-261, a novel, first-in-class protein secretion inhibitor, is the first clinical candidate to be nominated from Kezar's research and discovery efforts targeting protein secretion pathways. KZR-261 is a broad-spectrum anti-tumor agent that acts through direct interaction and inhibition of Sec61 activity. The compound was discovered at Kezar through a robust medicinal chemistry campaign in which several scaffolds were progressed through the company's proprietary platform evaluating Sec61 modulation. As a result, Kezar has established a broad library of protein secretion inhibitors. KZR-261 has demonstrated several encouraging properties that lead to its potential to be an anti-cancer agent for the treatment of solid and hematologic malignancies. IND-enabling activities are currently underway, and an IND submission in solid tumors is expected to be filed in the first quarter of 2021.

    About Kezar Life Sciences

    Based in South San Francisco, Kezar Life Sciences is combining courage, conviction and cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders. The company is pioneering first-in-class, small-molecule therapies that harness master regulators of cellular function and inhibit multiple drivers of disease via a single target. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from the company's protein secretion program targeting the Sec61 translocon, is undergoing IND-enabling activities. For more information, visit www.kezarlifesciences.com.

    Cautionary Note on Forward-looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Kezar's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Kezar's clinical development programs, future results or performance to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the design, progress, timing, scope and results of clinical trials, the anticipated timing of disclosure of results of clinical trials, the likelihood data will support future development, the association of data with treatment outcomes, the likelihood of obtaining regulatory approval of Kezar's product candidates, the timing of regulatory filings, and the discovery and development of new product candidates. Many factors may cause differences between current expectations and actual results, including the impacts of the COVID-19 pandemic on the company's business, clinical trials and financial position, unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Kezar's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" contained therein. Except as required by law, Kezar assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

    KEZAR LIFE SCIENCES, INC.

    Selected Balance Sheets Data

    (in thousands)

    June 30, 2020

    December 31, 2019

     

     

    (unaudited)

     

     

    Cash, cash equivalents and marketable securities

    $

    157,471

    $

    78,206

    Total assets

     

    168,323

     

    89,513

    Total current liabilities

     

    5,045

     

    6,003

    Total stockholders' equity

     

    158,318

     

    78,046

    KEZAR LIFE SCIENCES, INC.

    Condensed Consolidated Statements of Operations

    (Unaudited, In thousands except share and per share data)

    Three Months Ended

     

    Six Months Ended

    June 30,

     

    June 30,

    2020

     

    2019

     

    2020

     

    2019

    (unaudited)

    (unaudited)

    Operating expenses:

    Research and development

    $7,148

    $6,925

    $14,605

    $12,852

    General and administrative

    2,705

    2,430

    5,726

    4,812

    Total operating expenses

    9,853

    9,355

    20,331

    17,664

    Loss from operations

    (9,853)

    (9,355)

    (20,331)

    (17,664)

    Interest income

    353

    637

    819

    1,304

    Net loss

    ($9,500)

    ($8,718)

    ($19,512)

    ($16,360)

    Net loss per common share, basic and diluted

    ($0.22)

    ($0.46)

    ($0.51)

    ($0.86)

    Weighted-average shares used to compute net loss per common share, basic and diluted

    42,936,991

    19,073,830

    37,902,294

    19,058,263

     

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  5. Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer, today announced members of the executive team will present during upcoming virtual investor conferences. The details of the presentations are as follows:

    William Blair Virtual BioTech Conference
    Panel Session: Advancements in Renal Disease: Thursday, August 6, 2020 at 3:00pm EDT
    Presenter: Noreen Henig, MD, Chief Medical Officer

    BTIG Virtual Biotechnology Conference 2020
    Presentation: Tuesday, August 11, 2020 at 1:30pm EDT
    Presenter: John Fowler, Chief Executive Officer

    The panel and presentation will be webcast live and may be accessed on the "Events…

    Kezar Life Sciences, Inc. (NASDAQ:KZR), a clinical-stage biotechnology company discovering and developing novel small molecule therapeutics to treat unmet needs in autoimmunity and cancer, today announced members of the executive team will present during upcoming virtual investor conferences. The details of the presentations are as follows:

    William Blair Virtual BioTech Conference

    Panel Session: Advancements in Renal Disease: Thursday, August 6, 2020 at 3:00pm EDT

    Presenter: Noreen Henig, MD, Chief Medical Officer

    BTIG Virtual Biotechnology Conference 2020

    Presentation: Tuesday, August 11, 2020 at 1:30pm EDT

    Presenter: John Fowler, Chief Executive Officer

    The panel and presentation will be webcast live and may be accessed on the "Events & Presentations" section of the Company's website at https://investors.kezarlifesciences.com/. Kezar Life Sciences will maintain an archived replay of the webcasts on its website for 90 days after the conference.

    About Kezar Life Sciences

    Based in South San Francisco, Kezar Life Sciences is a clinical-stage biotechnology company committed to revolutionizing treatments for patients with autoimmune diseases and cancer. Kezar is translating its innovative research on the immunoproteasome and protein secretion pathways to advance novel therapeutic approaches. KZR-616, a first-in-class selective immunoproteasome inhibitor, is being evaluated in severe and underserved autoimmune diseases. Additionally, KZR-261, the first clinical candidate for the treatment of cancer from Kezar's protein secretion program, is undergoing IND-enabling activities. For more information, visit www.kezarlifesciences.com.

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