Kezar Life Sciences, Inc. (KZR)
Kezar Life Sciences, Inc. is a United States-based clinical-stage biopharmaceutical company focused on identifying and advancing novel small molecule therapies. Its mission is to address significant unmet medical needs in both immune-mediated diseases and various forms of cancer. The company's most advanced experimental drug is KZR-616, a specialized immunoproteasome inhibitor. This candidate is currently undergoing Phase 2 clinical evaluation for several conditions, including lupus nephritis, dermatomyositis, and polymyositis. Concurrently, KZR-616 is also in Phase 1b clinical trials for systemic lupus erythematosus and lupus nephritis. In its preclinical pipeline, Kezar is developing KZR-261, a pioneering first-in-class protein secretion inhibitor, as well as KZR-TBD, which is being investigated for its potential in oncology and immunology. The firm was founded in 2015 and is headquartered in South San Francisco, California.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Kezar Life Sciences, Inc.
NASDAQ:KZRHealthcare · Biotechnology
Mkt Cap$53.86M
Float5.2M
O/S7.39M
Inst Own4.6%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$56.03M
Total Assets$76.65M
Free Cash Flow-$51.78M
Debt & Equity
Debt 3%
Equity 97%
Total Debt$2.33M
Total Equity$70.07M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:10
Nasdaq bars a compliance period at 1:250
- 1:10Reverse splitOct 30, 202410 shares → 1
Balance Sheet Details
Assets$76.65M
Liabilities$6.57M
Accounts Receivable$1.93M
Accounts Payable$507K
Inventory$0
PP&E (Net)$915K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $0 | $0 | $7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $897K | $0 | $0 | $0 | $1.51M | $1.54M | $1.3M | $690K | $175K | $154K |
| Gross Profit | -$897K | $0 | $7M | $0 | -$1.51M | -$1.54M | -$1.3M | -$690K | -$175K | -$154K |
| Gross Margin | - | - | 100.0% | - | - | - | - | - | - | - |
| Research and Development | $33.76M | $65.74M | $85.7M | $51.01M | $38.94M | $31.04M | $28M | $18.14M | $6.47M | $7.37M |
| Selling, General, and Administrative | $18.51M | $23.39M | $26.54M | $20.15M | $15.72M | $10.43M | $8.68M | $6.59M | $2.28M | $1.62M |
| Other | -$897K | $1.47M | $6.19M | $0 | -$1.51M | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $51.37M | $90.61M | $118.42M | $71.16M | $53.15M | $41.46M | $36.68M | $24.73M | $8.75M | $8.99M |
| Operating Income (EBIT) | -$52.27M | -$90.61M | -$111.42M | -$71.16M | -$54.66M | -$43.01M | -$37.98M | -$24.73M | -$8.75M | -$8.99M |
| Operating Margin | - | - | -1591.8% | - | - | - | - | - | - | - |
| Interest Expense | $0 | $1.59M | $1.55M | $1.19M | $159K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $4.44M | $8.46M | $11.1M | $4.11M | $188K | $1.21M | $2.25M | $1.56M | $232K | $0 |
| Other Income (Expense) | -$3.76M | $6.87M | $9.55M | $2.92M | $29K | $1.21M | $2.25M | $1.56M | $232K | $0 |
| Income Before Tax (EBT) | -$56.03M | -$83.74M | -$101.87M | -$68.24M | -$54.63M | -$41.8M | -$35.72M | -$23.17M | -$8.52M | -$8.99M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | -$58K | -$635K | $0 | $0 | $0 |
| Net Income | -$56.03M | -$83.74M | -$101.87M | -$68.24M | -$54.63M | -$41.74M | -$35.09M | -$23.17M | -$8.52M | -$8.99M |
| Net Income Margin | - | - | -1455.3% | - | - | - | - | - | - | - |
| Supplementary Data | ||||||||||
| EPS | -7.66 | -1.15 | -1.40 | -1.01 | -1.04 | -0.95 | -1.65 | -1.22 | -0.65 | -0.69 |
| Diluted EPS | -7.66 | -1.15 | -1.40 | -1.01 | -1.04 | -0.95 | -1.65 | -1.22 | -0.65 | -0.69 |
| Weighted Average OS | 7.32M | 72.90M | 72.55M | 67.37M | 52.76M | 44.00M | 19.08M | 19.02M | 13.02M | 13.02M |
| EBITDA | -$51.37M | -$81.1M | -$99.25M | -$66.03M | -$52.96M | -$40.26M | -$34.42M | -$22.48M | -$8.34M | -$8.84M |
| EBITDA Margin | - | - | -1417.9% | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $71.88M | $41.75M | $35.49M | $40.46M | $62.88M | $21.23M | $14.95M | $24.18M | $51.03M | $9.75M |
| Short-Term Investments | $0 | $90.5M | $165.88M | $236.1M | $145.47M | $119.22M | $63.26M | $83.25M | $0 | $0 |
| Cash and Short-Term Investments | $71.88M | $132.25M | $201.37M | $276.56M | $208.35M | $140.45M | $78.21M | $107.43M | $51.03M | $9.75M |
| Accounts Receivable | $1.93M | $424K | $2.29M | $0 | $0 | $766K | $642K | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $1.39M | $351K | $251K | $920K | $729K | $865K | $406K | $489K | $508K | $598K |
| Total Current Assets | $75.73M | $137.49M | $206.95M | $285.72M | $211.65M | $144.81M | $81.13M | $109.81M | $52.33M | $10.49M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $915K | $4.78M | $8.69M | $13.17M | $6M | $6.75M | $8.1M | $4.59M | $1.54M | $862K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13K | $13K |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $2.42M | $5.59M | $674K | $282K | $282K | $282K | $282K | $343K | $62K |
| Total Long-Term Assets | $915K | $7.19M | $14.29M | $13.85M | $6.28M | $7.03M | $8.38M | $4.88M | $1.9M | $937K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $76.65M | $144.68M | $221.24M | $299.57M | $217.93M | $151.84M | $89.51M | $114.68M | $54.22M | $11.42M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $507K | $3.65M | $8.25M | $2.48M | $2.03M | $2.36M | $823K | $193K | $547K | $466K |
| Short-Term Debt | $0 | $5.22M | $0 | $0 | $0 | $1.04M | $900K | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $66K | $5.22M | $2.77M | $2.69M | $1.97M | $1.69M | $2.99M | $2.41M | $515K | $51K |
| Total Current Liabilities | $6.57M | $20.33M | $17.74M | $11M | $8.21M | $6.44M | $6M | $3.34M | $1.48M | $651K |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $0 | $5.11M | $10.07M | $9.83M | $9.62M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.55M | $78.42M | $28.2M |
| Total Long-Term Liabilities | $0 | $7.44M | $15.92M | $18.7M | $12.85M | $4.42M | $5.46M | $2.55M | $78.42M | $28.2M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $6.57M | $27.77M | $33.66M | $29.7M | $21.06M | $10.86M | $11.47M | $5.88M | $79.91M | $28.85M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $77.93M | $28.18M |
| Common Stock | $7K | $7K | $73K | $68K | $56K | $46K | $19K | $19K | $1K | $1K |
| Retained Earnings | -$490.53M | -$434.5M | -$350.76M | -$248.89M | -$180.65M | -$126.02M | -$84.28M | -$49.2M | -$26.03M | -$17.51M |
| Comprehensive Income & Other | $0 | -$162K | -$130K | -$923K | -$291K | -$137K | -$196K | -$203K | -$111K | -$150K |
| Other Stockholders' Equity | $560.6M | $551.41M | $538.26M | $518.7M | $377.47M | $266.96M | $162.31M | $157.97M | $340K | $82K |
| Total Equity | $70.07M | $116.92M | $187.57M | $269.87M | $196.88M | $140.98M | $78.05M | $108.8M | -$25.69M | -$17.43M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $76.65M | $144.68M | $221.24M | $299.57M | $217.93M | $151.84M | $89.51M | $114.68M | $54.22M | $11.42M |
| Supplementary Data | ||||||||||
| Total Debt | $2.33M | $16.18M | $18.93M | $21.26M | $14.04M | $5.46M | $6.36M | $0 | $0 | $0 |
| Net Debt | -$69.55M | -$25.57M | -$16.56M | -$19.19M | -$48.84M | -$15.76M | -$8.59M | -$24.18M | -$51.03M | -$9.75M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$56.03M | -$83.74M | -$101.87M | -$68.24M | -$54.63M | -$41.74M | -$35.09M | -$23.17M | -$8.52M | -$8.99M |
| Depreciation & Amortization | $897K | $1.04M | $1.07M | $1.02M | $1.51M | $1.54M | $1.3M | $690K | $175K | $154K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $1.77M | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $8.96M | $13.01M | $18.14M | $14.01M | $7.6M | $4.94M | $4.01M | $1.99M | $203K | $128K |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$7.34M | -$3.15M | $6.35M | $1.81M | $1.22M | $313K | $2.21M | $1.44M | $81K | -$469K |
| Other Working Capital | $1.94M | $1.85M | -$1.64M | -$6.27M | $9K | -$2.32M | -$1.33M | -$1.38M | -$51K | -$583K |
| Total Working Capital Change | -$5.4M | -$1.3M | $4.71M | -$4.46M | $1.23M | -$2.01M | $881K | $62K | $30K | -$1.05M |
| Other Non-Cash Items | -$201K | -$3.23M | -$3.68M | -$1.18M | $91K | $317K | -$979K | -$370K | $472K | $979K |
| Net Cash from Operating | -$51.78M | -$74.21M | -$81.64M | -$58.85M | -$42.44M | -$36.95M | -$29.88M | -$20.79M | -$8.11M | -$9.76M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$8K | -$29K | -$1.81M | -$1.58M | -$316K | -$194K | -$607K | -$1.12M | -$389K | -$132K |
| Acquisitions | $121K | $0 | $0 | $90K | $28K | $56K | -$21K | $10K | $0 | $0 |
| Purchases of Investments | -$42.63M | -$91.34M | -$180.4M | -$332.2M | -$156.38M | -$225.73M | -$102.25M | -$119.24M | $0 | $0 |
| Sales of Investments | $134.98M | $171.79M | $258.25M | $242.39M | $128.25M | $169.42M | $123.28M | $36.45M | $0 | $0 |
| Other Investing Activities | $0 | $0 | $5K | -$90K | -$28K | -$56K | $21K | $10K | $0 | $0 |
| Net Cash from Investing | $92.46M | $80.43M | $76.05M | -$91.39M | -$28.44M | -$56.5M | $20.42M | -$83.9M | -$389K | -$132K |
| Financing Activities | ||||||||||
| Debt Repaid | $10.65M | - | - | - | -$9.53M | - | - | - | - | - |
| Common Stock Issuance | $65K | $103K | $638K | $126.54M | $100.97M | $99.19M | $272K | $77.91M | $49.76M | $36K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $1.32M | $2.08M | $456K | $0 | $0 | $0 | $36K |
| Net Cash from Financing | -$10.59M | $103K | $638K | $127.86M | $112.58M | $99.64M | $272K | $77.91M | $49.76M | $36K |
| Forex Effect | $28K | -$63K | -$2K | -$49K | -$50K | $82K | -$45K | -$81K | $29K | -$150K |
| Net Change in Cash | $30.13M | $6.26M | -$4.96M | -$22.43M | $41.65M | $6.28M | -$9.23M | -$26.86M | $41.29M | -$10.01M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | -$51.78M | -$74.21M | -$81.64M | -$58.85M | -$42.44M | -$36.95M | -$29.88M | -$20.79M | -$8.11M | -$9.76M |
| Capital Expenditure | -$8K | -$29K | -$1.81M | -$1.58M | -$316K | -$194K | -$607K | -$1.12M | -$389K | -$132K |
| Free Cash Flow | -$51.78M | -$74.24M | -$83.45M | -$60.42M | -$42.75M | -$37.14M | -$30.48M | -$21.91M | -$8.5M | -$9.89M |
| Cash at Beginning | $41.75M | $35.49M | $40.46M | $62.88M | $21.23M | $14.95M | $24.18M | $51.05M | $9.76M | $19.77M |
| Cash at End | $71.88M | $41.75M | $35.49M | $40.46M | $62.88M | $21.23M | $14.95M | $24.18M | $51.05M | $9.76M |