KZR Research | Milton Maxwell

KZR

Kezar Life Sciences, Inc.

6.30

+0.02+0.32%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

46.14M

P/E (TTM)

Basic EPS (TTM)

-8.44

Dividend Yield

Recent Filings

10-K

FY2025 results

3/27/26Mar 27, 2026

Kezar Life Sciences posted a $56.0M net loss for FY2025 ended December 31, 2025, better than $83.7M in 2024, as R&D expenses plunged 48% to $33.8M after terminating the PALIZADE trial and slashing headcount 70%. Q4 saw further momentum with debt payoff and asset sale to Enodia, trimming G&A 21% to $18.5M amid restructuring charges of $6.8M. Cash holds at $71.9M, funding operations 12+ months while exploring strategic alternatives. Restructuring sharpens focus. Yet clinical holds linger.

8-K

Sells Sec61 assets to Enodia

3/12/26Mar 12, 2026

Kezar Life Sciences sold its Sec61 program assets, including KZR-261, to Enodia Therapeutics on March 6, 2026, for $1M upfront and up to $127M in milestones plus single-digit royalties. This sharpens focus on zetomizomib while offloading non-core preclinical work. Deal caps non-fraud indemnities at $1M each side.

8-K

Strategic review after FDA setback

11/12/25Nov 12, 2025

Kezar Life Sciences failed to align with FDA on a registrational trial for zetomipzomib in AIH, prompting a strategic review with TD Cowen to maximize shareholder value. The company repaid $6.3M debt on October 20 and cut 70% of staff on November 6, expecting $6.0M charges. Cash stood at $90.2M as of Q3 end. R&D plunged 57%. Cuts preserve runway amid uncertainty.

10-Q

Q3 FY2025 results

11/12/25Nov 12, 2025

Kezar trimmed operating expenses 47% y/y to $11.7M in Q3 ended September 30, 2025, driving net loss down to $11.2M ($1.53/share) from $20.3M ($2.78/share) a year earlier, thanks to slashed R&D on halted trials. YTD loss narrowed to $41.5M from $63.5M, with cash burn slowing to $39.8M operating outflow versus $57.4M prior year; cash and equivalents plus marketable securities stood at $90.2M. Debt of $6.7M net awaits full payoff post-quarter. Exploring strategic alternatives after FDA misalignment on AIH trial. Workforce cut 70% to stretch runway. Rights Plan deters unsolicited bids. Clinical holds stall progress.

8-K

70% workforce cut announced

11/7/25Nov 7, 2025

Kezar Life Sciences slashed its workforce by 70%—about 31 employees—on November 6, 2025, as part of its strategic alternatives review. The move triggers ~$6.0 million in cash costs, mostly severance, hitting Q4 2025. Actual expenses may vary materially.

About

Kezar Life Sciences, Inc., a clinical-stage biotechnology company, engages in the discovery and development of novel small molecule therapeutics to treat unmet needs in immune-mediated diseases in the United States. The company's lead product candidate is zetomipzomib (KZR-616), a selective immunoproteasome inhibitor for various indications, including lupus nephritis, dermatomyositis, and polymyositis; and Phase 1b/2 clinical trials in systemic lupus erythematosus. It is also developing KZR-261, a novel first-in-class protein secretion inhibitor for the treatment of tumors resistant to traditional chemotherapeutics. Kezar Life Sciences, Inc. was incorporated in 2015 and is headquartered in South San Francisco, California.

CEO

Dr. Christopher J. Kirk Ph.D.

IPO

6/21/2018

Website

https://www.kezarlifesciences.com

Employees

Sector

Healthcare

Industry

Biotechnology