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Kezar Life Sciences, Inc. (KZR) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Kezar Life Sciences, Inc.

CIK: 1645666 Ticker: KZR

Exhibit 99.1

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

Conference call and webcast today at 4:30pm EDT

SAN FRANCISCO, Calif., August 5, 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 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 following information was filed by Kezar Life Sciences, Inc. (KZR) on Wednesday, August 5, 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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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
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)
Subsequent Event - Additional Information (Details)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

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

Ticker: KZR
CIK: 1645666
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-037297
Submitted to the SEC: Thu Aug 06 2020 8:32:14 AM EST
Accepted by the SEC: Thu Aug 06 2020
Period: Tuesday, June 30, 2020
Industry: Pharmaceutical Preparations

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