Kezar Life Sciences, Inc. (KZR) 10-K Annual Report March 2022

Delaware	001-38542	47-3366145
(state or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

4000 Shoreline Court, Suite 300 South San Francisco, California		94080
(Address of principal executive offices)		(Zip Code)

Registrant's telephone number, including area code: (650) 822-5600

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock, $0.001 par value	KZR	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

The following information was filed by Kezar Life Sciences, Inc. (KZR) on Friday, January 7, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Kezar Life Sciences, Inc.'s 10-K Annual Report:

Other - Other Highlight
If such a disruption occurs, we could experience an inability to access additional capital, which could in the future negatively affect our operations.

Financial - Expense Highlight
We expect to continue to incur significant expenses and increasing operating losses for at least the next several years.
Financial - Expense Highlight
Financial Operations Overview Research and Development Expenses Research and development expenses consist primarily of costs incurred for the development of our product candidates, which include: employee-related expenses, which include salaries, benefits and stock-based compensation; fees paid to consultants for services directly related to our product development and regulatory effort; expenses incurred under agreements with third-party contract organizations, investigative clinical trial sites and consultants that conduct research and development activities on our behalf; costs associated with preclinical studies and clinical trials; costs associated with technology and intellectual property licenses; the costs related to production of clinical supplies; and facilities and other allocated expenses, which include expenses for rent and other facility related costs and other supplies.
Financial - Cash Flow Highlight
Cash Flows from Financing Activities During the year ended December 31, 2021, cash provided by financing activities was $112.6 million, consisting of $101.0 million of net proceeds received from the at-the-market offering programs described above, $9.5 million of net proceeds received under the Loan Agreement with Oxford Finance, and $2.1 million from the issuance of common stock pursuant to our employee equity plans.
Financial - Cash Flow Highlight
We have incurred operating losses and experienced negative operating cash flows since our inception and anticipate that we will continue to incur losses for at least the foreseeable future.
Financial - Shares
At-the-Market Offering Programs During 2021,...Read more
Financial - Expense
We record the estimated costs...Read more
Other - Other
The safety and tolerability profile...Read more
Financial - Expense
The increase was primarily due...Read more
Financial - Expense
Costs for certain development activities...Read more
Other - Other
Further, our operating plan may...Read more
Financial - Expense
The interest expense was comprised...Read more
Financial - Expense
General and Administrative Expenses General...Read more
Financial - Expense
The following table summarizes our...Read more
Financial - Income
Interest Income Interest income decreased...Read more
Revenue - Product
In December 2021, we entered...Read more
Financial - Expense
We will incur additional expenses...Read more
M & A - Other
There can be no assurance...Read more
Financial - Expense
As a result, we are...Read more
Financial - Expense
Comparison of the Years Ended...Read more
Other - Other
Funding Requirements We believe that...Read more
Financial - Expense
These research and development tax...Read more
Financial - Expense
The process of conducting the...Read more
Financial - Expense
The increase was primarily due...Read more
Other - Other
Our net losses were $54.6...Read more
Financial - Expense
The change in our net...Read more
Financial - Cash Flow
Cash Flows from Investing Activities...Read more
Revenue - Geography
During the year ended December...Read more
Other - Other
The above table does not...Read more
Revenue - Product
Our ability to generate product...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Kezar Life Sciences, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.4: Material Contract

Exhibit 10.9: Material Contract

Exhibit 10.17: Material Contract

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: KZR
CIK: 1645666
Form Type: 10-K Annual Report
Accession Number: 0000950170-22-004085
Submitted to the SEC: Thu Mar 17 2022 4:11:16 PM EST
Accepted by the SEC: Thu Mar 17 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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Kezar Life Sciences, Inc. (KZR) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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