Kezar Life Sciences, Inc. (KZR) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

KZR Quarterly Reports

Kezar Life Sciences, Inc.

CIK: 1645666 Ticker: KZR

Exhibit 99.1


Kezar Life Sciences Reports First Quarter 2020 Financial Results and Provides Business Update


Noreen R. Henig, MD appointed as Chief Medical Officer


Additional data from the ongoing Phase 1b portion of the MISSION study to be presented before the end of Q2 2020


IND submission for KZR-261, a first-in-class protein secretion inhibitor, is on track for Q1 2021


Cash, cash equivalents and marketable securities of $123 million as of March 31, 2020

SAN FRANCISCO, Calif., May 7, 2020 -- 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 its first quarter 2020 financial results and corporate highlights.

“During this unprecedented health crisis, I’ve been deeply impressed by our team’s focus and continued execution across both of our programs,” said John Fowler, Kezar’s Chief Executive Officer. “We are working closely with all the sites participating in our trials with KZR-616 and look forward to sharing new data from the Phase 1b portion of our MISSION study next month.  In addition, we will present more preclinical data on our novel protein secretion inhibitor, KZR-261, in an e-poster during ASCO 2020 and remain on track for an IND submission in the first quarter of 2021.”

Recent Clinical and Business Highlights

Appointment of Chief Medical Officer

Kezar appointed Noreen Roth Henig, MD as Chief Medical Officer. Dr. Henig is a seasoned leader whose career spans clinical practice, academic medicine, translational science, clinical development, medical and regulatory affairs. As an integral member of the Company’s Executive Leadership team, Dr. Henig will oversee all aspects of the Company’s clinical development, regulatory strategy, and medical affairs.

KZR-616 – Selective Immunoproteasome Inhibitor

On April 9, 2020, Kezar provided a statement on the impact of the COVID-19 pandemic to its clinical operations relating to KZR-616:


Kezar’s three clinical trials with KZR-616 (MISSION, MARINA, and PRESIDIO) remain active, but due to the unprecedented impact of the COVID-19 pandemic on the healthcare system, delays are anticipated for Phase 2 clinical development and data release milestones.



Kezar’s clinical team is working closely with clinical trial sites around the world to provide them with guidance for patients to safely enroll and continue on study.



Home health care services are available for patients participating in clinical trials with KZR-616.



Virtual site initiations and patient visits are being conducted where applicable.

The following information was filed by Kezar Life Sciences, Inc. (KZR) on Thursday, May 7, 2020 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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Kezar Life Sciences, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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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 Liabilities (Details)
Balance Sheet Components - Additional Information (Details)
Balance Sheet Components - Property And Equipment (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 (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 - Additional Information (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 Weighted Average 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 - Unrecognized Stock-Based Compensation Cost And Estimated Weighted Average Amortization Period (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: KZR
CIK: 1645666
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-022864
Submitted to the SEC: Thu May 07 2020 4:14:32 PM EST
Accepted by the SEC: Thu May 07 2020
Period: Tuesday, March 31, 2020
Industry: Pharmaceutical Preparations

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