Kezar Life Sciences, Inc.
KZR evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for KZR—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · KZR
Kezar Life Sciences is a clinical-stage biotechnology company developing novel small molecule therapeutics for immune-mediated diseases, with a lead candidate zetomipzomib in clinical trials.
Key risk: Clinical-stage, no approved products
BioSniper Score
Based on 4 of 6 signals
Financial data as of Mar 31, 2026.
Tracking 2 pipeline candidates · 7 clinical trials for Kezar Life Sciences, Inc..
Kezar Life Sciences is a clinical-stage biotechnology company developing novel small molecule therapeutics for immune-mediated diseases, with a lead candidate zetomipzomib in clinical trials.
- Kezar is a clinical-stage biotechnology company developing novel small molecule therapeutics for immune-mediated diseases [sec_mda · as of 2025-11-12].
- As of March 31, 2026, the company reported cash & equivalents of $66.2M, net income of -$5.8M, and shareholders' equity of $70.1M [sec].
- The company expects to continue incurring significant operating losses for at least the next several years [sec_mda · as of 2025-11-12].
- As of September 30, 2025, Kezar had an accumulated deficit of $451.1 million [sec_mda · as of 2025-11-12].
- Management believes available cash is sufficient to fund existing and planned cash requirements for the next 12 months [sec_mda · as of 2025-11-12].
What works
- Kezar is focused on developing novel small molecule therapeutics for unmet needs in immune-mediated diseases, a large and growing market [sec_mda · as of 2025-11-12].
- The company has a lead candidate, zetomipzomib, which is in clinical development, indicating progress in its pipeline [sec_mda · as of 2025-08-13].
- Management believes current cash is sufficient to fund operations for the next 12 months, providing near-term financial stability [sec_mda · as of 2025-11-12].
What to weigh
- Kezar is a clinical-stage company with no approved products and expects to continue incurring significant operating losses for several years [sec_mda · as of 2025-11-12].
- The company has an accumulated deficit of $451.1 million as of September 30, 2025, reflecting substantial historical losses [sec_mda · as of 2025-11-12].
- Kezar's ability to generate revenue and achieve profitability depends on the successful development and commercialization of its product candidates, which is uncertain [sec_mda · as of 2025-11-12].
- The company declined certain tranches of borrowing capacity under its loan agreement, potentially limiting future financing flexibility [sec_mda · as of 2025-08-13].
From the filings
Quoted directly from source documents.
Kezar is a clinical-stage biotechnology company developing novel small molecule therapeutics.
“We are a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated d”
SEC MD&A · November 12, 2025
The company expects to continue incurring significant operating losses.
“we expect to continue to incur significant expenses and increasing operating losses for at least the next several years.”
SEC MD&A · November 12, 2025
As of September 30, 2025, accumulated deficit was $451.1 million.
“As of September 30, 2025, we had an accumulated d”
SEC MD&A · November 12, 2025
Management believes cash is sufficient for the next 12 months.
“We believe that our available cash, cash equivalents and short-term investments are sufficient to fund existing and planned cash requirements for the next 12 months.”
SEC MD&A · November 12, 2025
Risks & what to watch (4)›
Key risks
- Clinical-stage, no approved products — Kezar has no approved products and expects significant operating losses for several years [sec_mda · as of 2025-11-12].
- Accumulated deficit of $451.1M — As of September 30, 2025, the company had an accumulated deficit of $451.1 million [sec_mda · as of 2025-11-12].
- Dependence on successful development — Revenue and profitability depend on successful development and commercialization of product candidates [sec_mda · as of 2025-11-12].
- Limited financing flexibility — The company declined certain tranches of borrowing capacity under its loan agreement [sec_mda · as of 2025-08-13].
What to watch
- Progress of clinical trials for zetomipzomib and other pipeline candidates [sec_mda · as of 2025-08-13].
- Updates on cash runway and any new financing activities [sec_mda · as of 2025-11-12].
- Regulatory developments and potential milestones for product candidates [sec_mda · as of 2025-11-12].
- Changes in operating expenses and net loss trends in future filings [sec_mda · as of 2025-11-12].
Sources: SEC MD&A · Generated August 14, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
26.8 months
D/E 0.04 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
41
Total value held
$29.7M
| Holder | Shares | Value |
|---|---|---|
| suvretta capital management, llc | 716,759 | $5.3M |
| tang capital management llc | 664,314 | $4.9M |
| vanguard capital management llc | 581,058 | $4.3M |
| rangeley capital, llc | 243,073 | $1.8M |
| affinity asset advisors, llc | 229,076 | $1.7M |
| susquehanna international group, llp | 201,600 | $1.5M |
| renaissance technologies llc | 188,426 | $1.4M |
| millennium management llc | 142,050 | $1.1M |
| ikarian capital, llc | 102,211 | $758K |
| blackrock, inc. | 100,064 | $742K |
Showing top 10 of 41 institutional holders of Kezar Life Sciences, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 2.1%
- Days to cover
- 1.3
- Shares short
- 151,602
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
KZR short interestGovernance
Frequently asked questions
What is the AI investment thesis for Kezar Life Sciences, Inc.?
Kezar Life Sciences is a clinical-stage biotechnology company developing novel small molecule therapeutics for immune-mediated diseases, with a lead candidate zetomipzomib in clinical trials.
What is Kezar Life Sciences, Inc.'s lead drug candidate?
Kezar Life Sciences, Inc.'s most advanced tracked candidate is kzr-261 (Phase 2) for Advanced/Metastatic Solid Tumor.
Who is the CEO of Kezar Life Sciences, Inc.?
Dr. Christopher J. Kirk Ph.D. is the chief executive officer of Kezar Life Sciences, Inc. (KZR).
Where is Kezar Life Sciences, Inc. headquartered?
Kezar Life Sciences, Inc. (KZR) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does Kezar Life Sciences, Inc. focus on?
Kezar Life Sciences, Inc. develops therapies across Oncology, Immunology, Infectious Disease, Dermatology, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.