Kezar Life Sciences, Inc. (KZR) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Kezar Life Sciences, Inc.

CIK: 1645666 Ticker: KZR

Exhibit 99.1

Kezar Life Sciences Reports Fourth Quarter and Year End 2020 Financial Results and Provides Business Updates


KZR-616 clinical development in three severe autoimmune diseases is advancing with several data readouts expected in 2021 and 2022, subject to developments in the ongoing COVID-19 pandemic.


Upcoming poster presentations at AACR validate that inhibition of Sec61 with a small molecule can target multiple tumor types.


Cash and cash equivalents of $140 million as of December 31, 2020.

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE) – March 11, 2021 –

  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 fourth quarter and year end 2020 financial results and corporate highlights.

“Despite unprecedented circumstances, 2020 was a year of significant corporate and clinical accomplishments, thanks to the excellent execution by the Kezar team,” said John Fowler, Kezar’s Co-Founder and Chief Executive Officer. “We advanced our lead product candidate, KZR-616, in multiple indications, and the early clinical data from MISSION strongly support its continued development for a wide range of severe immune-mediated diseases. We launched the open-label extension study for patients completing PRESIDIO, and KZR-616 was granted Orphan Drug Designations from the FDA for the treatment of polymyositis and dermatomyositis. This year we look forward to reporting the final results of the MISSION Phase 1b study and interim data from the MISSION Phase 2 study in systemic lupus erythematosus and lupus nephritis patients, respectively.”  

Fowler continued, “Additionally, we continue to be highly encouraged by the therapeutic potential of KZR-261 and look forward to initiating a Phase 1 trial in solid tumors later this year. The data we’ll be presenting from the protein secretion program in two posters during AACR next month provides further support for inhibiting Sec61 as a target to treat various cancers.”

Clinical Highlights & Updates

KZR-616: Selective Immunoproteasome Inhibitor

MISSION – Phase 1b/2 clinical trial in patients with systemic lupus erythematous (SLE) and lupus nephritis (LN), respectively (NCT03393013)


The Phase 2 open-label portion of the MISSION trial in patients with active, proliferative lupus nephritis opened for enrollment in August 2020 and is actively recruiting. The primary efficacy endpoint for the trial is the proportion of patients achieving a renal response measured by a 50% or greater reduction in urine protein to creatinine ratio (UPCR) at six months.



Interim data are expected in late 2021, and topline data are expected in the first half of 2022, subject to developments in the ongoing COVID-19 pandemic.

The following information was filed by Kezar Life Sciences, Inc. (KZR) on Thursday, March 11, 2021 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:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit)
Consolidated Statement Of Redeemable Convertible Preferred Stock And Stockholders' Equity (Deficit) (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
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)
Commitments And Contingencies
Defined Contribution Plan
Defined Contribution Plan - Additional Information (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 (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Income Taxes - Schedule Of Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Domestic And Foreign Components Of Net Loss (Details)
Income Taxes - Schedule Of Effective Tax Rate Of Provision For Income Taxes Differs From Federal Statutory Rate (Details)
Lease (Tables)
Lease - Additional Information (Details)
Lease - Details Of Right-Of-Use Assets And Lease Liabilities (Details)
License Agreement
License Agreement - Additional Information (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)
Redeemable Convertible Preferred Stock
Redeemable Convertible Preferred Stock - Additional Information (Details)
Selected Quarterly Financial Information (Unaudited)
Selected Quarterly Financial Information (Unaudited) (Tables)
Selected Quarterly Financial Information (Unaudited) - Schedule Of Selected Quarterly Financial Information (Unaudited) (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Fair Value Of Employee Stock Options Granted And Espp Rights To Purchase Common Stock 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)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Details)
Ticker: KZR
CIK: 1645666
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-012525
Submitted to the SEC: Thu Mar 11 2021 4:18:16 PM EST
Accepted by the SEC: Thu Mar 11 2021
Period: Thursday, December 31, 2020
Industry: Pharmaceutical Preparations

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