Business
Kezar Life Sciences Reports Third Quarter 2023 Financial Results and Provides Business Update
Strategic restructuring extends cash runway to fund PALIZADE global Phase 2b clinical trial evaluating zetomipzomib in lupus nephritis Collaboration and
About this update from Kezar Life Sciences, Inc.
[{"type":"text","content":"\n\nStrategic restructuring extends cash runway to fund PALIZADE global Phase 2b clinical trial evaluating zetomipzomib in lupus nephritis\n\n\n\nCollaboration and license agreement with Everest Medicines to develop and commercialize zetomipzomib in Greater China, South Korea and Southeast Asia\n\n\n\nKezar Co-Founder and Board Director, Christopher Kirk, Ph.D., appointed as Chief Executive Officer\n\n\n\nCash, cash equivalents and marketable securities totaled $218.2 million as of September 30, 2023\n\n\n\n SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--\nKezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company developing breakthrough treatments for immune-mediated and oncologic disorders, today reported financial results for the third quarter ended September 30, 2023 and provided a business update.\n\n\n“During the third quarter, we made important progress in streamlining our operations and sharpening our focus on the zetomipzomib and KZR-261 programs,” said Christopher Kirk, Ph.D., co-founder and Chief Executive Officer of Kezar. “Our progress has been bolstered by a strategic collaboration and license agreement with Everest Medicines to develop and commercialize zetomipzomib in China, South Korea and Southeast Asia. Looking ahead, our strategic realignment and strong balance sheet provide cash runway to reach and extend beyond important clinical inflection points over the next three years for both our immunology and oncology programs.”\n\n\nCorporate Update\n\n\nChristopher Kirk, Ph.D. was appointed and began serving as Kezar’s Chief Executive Officer on November 7, 2023. Dr. Kirk is a co-founder and member of the Board of Directors and previously served as Kezar’s President and Chief Scientific Officer. John Fowler, co-founder and departing CEO, will continue serving as a member of the Board of Directors. In addition, Kezar recently announced a strategic restructuring to prioritize long-term growth and focus resources on its clinical-stage programs. Actions to prioritize clinical programs and implement cost saving measures are expected to extend Kezar’s cash runway into late 2026. These measures will focus resources on achieving important clinical data readouts for zetomipzomib in lupus nephritis (LN) and autoimmune hepatitis and KZR-261 in solid tumors. All research and drug discovery activities have ...