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Kezar Life Sciences, Inc. (KZR) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

Kezar Life Sciences, Inc.

CIK: 1645666 Ticker: KZR

Exhibit 99.1

Kezar Life Sciences Reports Second Quarter 2022 Financial Results and Provides Business Update

Announced positive topline results from the MISSION Phase 2 Trial evaluating zetomipzomib for the treatment of patients with lupus nephritis
Appointed Nick Mordwinkin, Pharm.D., Ph.D. as Chief Business Officer
Cash, cash equivalents and marketable securities totaled $306.8 million as of June 30, 2022

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE) – August 11, 2022 – Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders, today reported financial results for the second quarter ended June 30, 2022 and provided a business update.

The second quarter was tremendously productive for Kezar, during which we achieved key clinical milestones, strengthened our balance sheet, and added great talent to our leadership team, marking a major step in our growth,” said John Fowler, Kezar’s Co-founder and Chief Executive Officer. “We shared exciting positive topline results from our MISSION Phase 2 study evaluating zetomipzomib in LN patients, and our Phase 1 trial in solid tumors with our novel protein secretion inhibitor, KZR-261 is progressing as planned. We look forward to continued momentum across the company for the rest of 2022 and providing further updates in the coming months.”

Zetomipzomib: Selective Immunoproteasome Inhibitor

MISSION – Phase 1b/2 clinical trial of zetomipzomib (KZR-616) in patients with systemic lupus erythematosus with and without active lupus nephritis (LN) (NCT03393013)

In June 2022, Kezar reported topline results from the open-label MISSION Phase 2 clinical trial evaluating zetomipzomib in patients with active LN.
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During the 24-week treatment period, patients received 60 mg of zetomipzomib subcutaneously once weekly (first dose of 30 mg) in addition to stable background therapy. End-of-treatment assessments occurred at Week 25, with completion of study at Week 37. Patients in the MISSION Phase 2 clinical trial received zetomipzomib without induction therapy, which represents a difference from other recently published trials in LN. The primary efficacy endpoint for the trial was the proportion of patients achieving an overall renal response (ORR), measured as a 50% or greater reduction in urine protein to creatinine ratio (UPCR) at end of treatment. A key secondary efficacy endpoint was the number of patients with a complete renal response (CRR), measured as an absolute reduction in proteinuria values to a UPCR of 0.5 or less, with preserved renal function (eGFR), and corticosteroid use of 10 mg or less prednisone/prednisone equivalent and no use of prohibited medication.

 


The following information was filed by Kezar Life Sciences, Inc. (KZR) on Thursday, August 11, 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Available-For-Sale Securities
Available-For-Sale Securities (Tables)
Available-For-Sale Securities - Additional Information (Details)
Available-For-Sale Securities - Summary Of Amortized Cost And Estimated Fair Value Of Available-For-Sale Securities By Contractual Maturity (Details)
Available-For-Sale Securities - Summary Of Available-For-Sale Securities Recorded In Cash And Cash Equivalents Or Marketable Securities (Details)
Available-For-Sale Securities - Summary Of Gross Unrealized Losses And Fair Value By Major Security Type For Available-For-Sale Securities In Unrealized Loss Position (Details)
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Accrued And Other Current Liabilities (Details)
Balance Sheet Components - Additional Information (Details)
Balance Sheet Components - Property And Equipment (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Estimated Future Principal Payments (Details)
Debt - Schedule Of Long-Term Debt Balance (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Summary Of Financial Assets Measured At Fair Value On Recurring Basis (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Lease
Lease (Tables)
Lease - Additional Information (Details)
Lease - Details Of Right-Of-Use Assets And Lease Liabilities (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Anti-Dilutive Outstanding Shares Of Common Stock Equivalents Excluded From Computation Of Diluted Net Loss Per Share (Details)
Net Loss Per Share - Calculation Of Basic And Diluted Net Loss Per Share (Details)
Organization And Description Of The Business
Organization And Description Of The Business - Additional Information (Details)
Pre-Funded Warrants
Pre-Funded Warrants (Tables)
Pre-Funded Warrants - Additional Information (Details)
Pre-Funded Warrants - Summary Of Pre-Funded Warrants Outstanding (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Fair Value Of Stock Options Granted Is Calculated Using Black Scholes Option Pricing Model With Range Of Assumptions (Details)
Stock-Based Compensation - Stock-Based Compensation Expense Recognized (Details)
Stock-Based Compensation - Summary Of Activity Under Stock Option Plans And Related Information (Details)
Stock-Based Compensation - Summary Of Rsu Activity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: KZR
CIK: 1645666
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-22-016897
Submitted to the SEC: Thu Aug 11 2022 4:22:45 PM EST
Accepted by the SEC: Thu Aug 11 2022
Period: Thursday, June 30, 2022
Industry: Pharmaceutical Preparations

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