Kezar Life Sciences, Inc.
Business
Kezar Life Sciences is a clinical-stage biotechnology company developing zetomipzomib, a selective immunoproteasome inhibitor for immune-mediated diseases including autoimmune hepatitis and lupus nephritis. The company is pursuing strategic alternatives after being unable to align with the FDA on a registrational trial design in October 2025. Kezar operates through licensed intellectual property from Onyx Therapeutics and has granted exclusive commercialization rights in certain Asian territories to Everest Medicines.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration revenue | 0 | 0 | 7 | 0 | 0 | |
| Research and development | 34 | 66 | 86 | 51 | 39 | |
| General and administrative | 19 | 23 | 27 | 20 | 16 | |
| Restructuring and impairment charges | 7 | 2 | 6 | 0 | 0 | |
| Total operating expenses | 59 | 91 | 118 | 71 | 55 | |
| Loss from operations | −59 | −91 | −111 | −71 | −55 | |
| Interest income | 4 | 8 | 11 | 4 | — | |
| Other expenses | −1 | −2 | −2 | — | — | |
| Net loss | −56 | −84 | −102 | −68 | −55 | |
| Net loss per common share, basic (in dollars per share) | −7.66 | −11.49 | −14.04 | −10.13 | −1.04 | |
| Net loss per common share, diluted (in dollars per share) | −7.66 | −11.49 | −14.04 | −10.13 | −1.04 | |
| Weighted-average shares used to compute net loss per common share, basic (in shares) | 7 | 7 | 7 | 7 | 53 | |
| Weighted-average shares used to compute net loss per common share, diluted (in shares) | 7 | 7 | 7 | 7 | 53 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 72 | 42 | 35 | 40 | 63 | |
| Marketable securities | 0 | 90 | 166 | 236 | 145 | |
| Prepaid expenses and other current assets | 3 | 5 | 6 | 9 | — | |
| Assets held for sale | 500,000 | 0 | — | — | — | |
| Total current assets | 76 | 137 | 207 | 286 | 212 | |
| Property and equipment, net | 166,000 | 3 | 4 | 3 | 3 | |
| Operating lease right-of-use asset | 749,000 | 2 | 5 | 10 | 3 | |
| Other assets | 0 | 2 | 6 | 674,000 | 282,000 | |
| Total assets | 77 | 145 | 221 | 300 | 218 | |
| Accounts payable | 507,000 | 4 | 8 | 2 | 2 | |
| Accrued liabilities | 4 | 8 | 6 | 6 | 5 | |
| Operating lease liabilities, current | 2 | 4 | 3 | 3 | 1 | |
| Debt, current | 0 | 5 | 0 | — | — | |
| Total current liabilities | 7 | 20 | 18 | 11 | 8 | |
| Operating lease liabilities, noncurrent | 0 | 2 | 6 | 9 | 3 | |
| Debt, noncurrent | 0 | 5 | 10 | 10 | 10 | |
| Total liabilities | 7 | 28 | 34 | 30 | 21 | |
| Common stock, $0.001 par value, 250,000,000 shares authorized as of December 31, 2025 and 2024; 7,331,739 and 7,303,629 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 7,000 | 7,000 | 7,000 | 68,000 | 56,000 | |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 561 | 552 | 538 | 520 | 378 | |
| Accumulated other comprehensive loss | 0 | −162,000 | −130,000 | −923,000 | −291,000 | |
| Accumulated deficit | −491 | −434 | −351 | −249 | −181 | |
| Total stockholders' equity | 70 | 117 | 188 | 270 | 197 | |
| Total liabilities and stockholders' equity | 77 | 145 | 221 | 300 | 218 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 897,000 | 1 | 1 | 1 | 2 | |
| Stock-based compensation | 9 | 13 | 18 | 14 | 8 | |
| Amortization of premiums and discounts on marketable securities | −2 | −5 | −7 | −1 | 2 | |
| Amortization of debt discount and issuance costs and other non-cash interest | 176,000 | 259,000 | 235,000 | 212,000 | 91,000 | |
| Loss on debt extinguishment | 146,000 | 0 | 0 | — | — | |
| Impairment loss of property and equipment | 900,000 | 0 | 208,000 | 0 | 0 | |
| Impairment loss of right-of-use asset | 0 | 2 | 3 | 0 | 0 | |
| Reclassification of currency translation loss | 282,000 | 0 | 0 | — | — | |
| Loss on disposal of property and equipment | 290,000 | 8,000 | 3,000 | 12,000 | 0 | |
| Prepaid expenses and other current assets | 2 | 335,000 | 4 | −6 | 1 | |
| Other assets | 2 | 3 | −5 | −392,000 | 0 | |
| Accounts payable and accrued liabilities | −7 | −3 | 6 | 2 | 1 | |
| Operating lease asset and liabilities | −2 | −2 | −303,000 | −94,000 | −1 | |
| Net cash used in operating activities | −52 | −74 | −82 | −59 | −42 | |
| Purchases of property and equipment | −8,000 | −29,000 | −2 | −2 | −316,000 | |
| Purchases of marketable securities | −43 | −91 | −180 | −332 | −156 | |
| Maturities of marketable securities | 135 | 172 | 258 | 242 | 128 | |
| Proceeds from sale of equipment | 121,000 | 0 | 5,000 | 0 | 0 | |
| Net cash provided by investing activities | 92 | 80 | 76 | −91 | −28 | |
| Repayment of loan principal and final fee | −11 | 0 | 0 | — | — | |
| Proceeds from issuance of common stock under employee stock incentive plans | 65,000 | 103,000 | 638,000 | 1 | 2 | |
| Net cash (used in) provided by financing activities | −11 | 103,000 | 638,000 | 128 | 113 | |
| Effect of exchange rate changes on cash and cash equivalents | 28,000 | −63,000 | −2,000 | −49,000 | −50,000 | |
| Net increase (decrease) in cash and cash equivalents | 30 | 6 | −5 | −22 | 42 | |
| Par value of common stock upon cashless exercise of prefunded warrants | 0 | 0 | 4,000 | 0 | 0 | |
| Cash paid for interest | 766,000 | 1 | 1 | 973,000 | 69,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Kezar Life Sciences, Inc.'s CIK number?
Kezar Life Sciences, Inc.'s SEC CIK number is 0001645666 (1645666). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Kezar Life Sciences, Inc.'s SEC filings?
All of Kezar Life Sciences, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Kezar Life Sciences, Inc. last report earnings?
Kezar Life Sciences, Inc. (KZR) most recently filed an earnings 8-K with the SEC on Nov 12, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-25-051592). This is Kezar Life Sciences, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Kezar Life Sciences, Inc.'s most recent earnings 8-K?
Kezar Life Sciences, Inc.'s latest earnings 8-K (Item 2.02) was filed Nov 12, 2025 under accession 0001628280-25-051592. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Kezar Life Sciences, Inc.'s latest earnings 8-K →
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