Blair Cohen

Kenneth Atkins

Matthew Phipps

Matt Phipps

Yan [ph]

Yennen

- Kezar Life Sciences announced regulatory challenges with the **FDA** regarding its **zetomipzomib program** for autoimmune hepatitis, including a cancelled Type C meeting and requirements that will **delay future trials by approximately 2 years**.  **[1645666_0001628280-25-045215_kzr-10x16x25pr.htm:1]** 
- The company is initiating a process to explore a full range of **strategic alternatives** focused on maximizing shareholder value and has retained **TD Cowen** to support this review.  **[1645666_0001628280-25-045215_kzr-10x16x25pr.htm:1]** 
- As part of the strategic review, Kezar will implement a **restructuring plan**, including a **workforce reduction** and other cost-containment measures.  **[1645666_0001628280-25-045215_kzr-10x16x25pr.htm:3]** 
- Kezar reported preliminary cash, cash equivalents, and marketable securities of approximately **$90.2 million as of September 30, 2025**.  **[1645666_0001628280-25-045215_kzr-20251016.htm:2]** **[1645666_0001628280-25-045215_kzr-10x16x25pr.htm:3]** 
- The Board of Directors amended its limited duration stockholder rights plan, extending its expiration to the day following the certification of voting results of the **2026 annual meeting** or, if approved by stockholders, the **2027 annual meeting**.  **[1645666_0001628280-25-045215_kzr-rightsagreementamendme.htm:1]** **[1645666_0001628280-25-045215_kzr-20251016.htm:2]** **[1645666_0001628280-25-045215_kzr-10x16x25pr.htm:3]**

Kezar Life Sciences Announces Regulatory Setback for Zetomipzomib and Explores Strategic Alternatives

- Kezar Life Sciences announced regulatory challenges for its zetomipzomib program in autoimmune hepatitis (AIH), including the **FDA's cancellation of a Type C meeting** and a requirement for a stand-alone pharmacokinetic study that would **delay future trials by approximately 2 years**.  **[1645666_68fdb06cd3354e338e69509fcaa08042_0]** **[1645666_68fdb06cd3354e338e69509fcaa08042_1]** 
- The company expressed disappointment with the FDA's decision, citing a lack of resources to extend the development timeline and questioning the feasibility of required **48-hour patient monitoring**.  **[1645666_68fdb06cd3354e338e69509fcaa08042_1]** 
- In response, Kezar is **exploring a full range of strategic alternatives** to maximize shareholder value, has retained TD Cowen, and will implement a **restructuring plan including a workforce reduction**.  **[1645666_68fdb06cd3354e338e69509fcaa08042_0]** **[1645666_68fdb06cd3354e338e69509fcaa08042_1]** 
- As of **September 30, 2025**, Kezar reported approximately **$90.2 million** in cash, cash equivalents, and marketable securities.  **[1645666_68fdb06cd3354e338e69509fcaa08042_2]** 
- The company's Board of Directors has **extended its limited duration shareholder rights plan** to protect shareholder interests during the strategic review process.  **[1645666_68fdb06cd3354e338e69509fcaa08042_2]**

Kezar Life Sciences (KZR)