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Kezar Life Sciences (KZR) investor relations material
Kezar Life Sciences Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary13 Aug, 2025
Executive summary
Focused on developing zetomipzomib for autoimmune hepatitis after terminating other clinical programs, with ongoing regulatory engagement following FDA removal of a clinical hold on a key trial in July 2025.
Type C meeting with FDA requested for Q4 2025 to discuss registration-enabling trial design.
PORTOLA Phase 2a data selected for oral presentation at The Liver Meeting 2025.
Zung To promoted to Chief Development Officer, strengthening clinical development leadership.
No product sales to date; operations funded by equity, debt, and a collaboration with Everest Medicines, with continued significant operating losses expected.
Financial highlights
Net loss for Q2 2025 was $13.7 million, down from $21.5 million in Q2 2024; six-month net loss was $30.3 million, down from $43.2 million year-over-year.
Operating expenses for Q2 2025 were $14.6 million, a decrease from $23.4 million in Q2 2024, mainly due to lower R&D and restructuring costs.
Cash, cash equivalents, and marketable securities totaled $100.8 million as of June 30, 2025, down from $132.2 million at December 31, 2024.
R&D expenses for Q2 2025 decreased to $9.6 million from $16.3 million in Q2 2024, mainly due to lower clinical activity and personnel costs.
G&A expenses for Q2 2025 decreased to $5.0 million from $5.6 million in Q2 2024.
Outlook and guidance
Cash resources are expected to fund operations for at least 12 months from the reporting date, but additional capital will be needed for long-term plans.
Expenses are expected to remain stable in the near term, then increase as zetomipzomib advances into later-stage development.
On track with clinical development and regulatory submission plan for zetomipzomib in autoimmune hepatitis.
Type C FDA meeting in Q4 2025 expected to be a key milestone for advancing zetomipzomib.
No revenue from product sales anticipated in the near future; future funding needs depend on clinical progress and regulatory outcomes.
Discuss the plan for zetomipzomib in AIH.
Explain the decrease in R&D expenses.
What is the median duration of response in AIH?
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Next Kezar Life Sciences earnings date
Q3 202511 Nov, 2025
Next Kezar Life Sciences earnings date
Q3 202511 Nov, 2025
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Frequently asked questions
Kezar Life Sciences Inc. is a biotechnology company focused on developing therapies for autoimmune diseases and cancer. The company specializes in small-molecule drug candidates targeting protein homeostasis and immune system regulation. Its research and development efforts aim to advance treatments for conditions such as lupus nephritis and other immune-mediated disorders through clinical trials. The company is headquartered in South San Francisco, California, and its shares are listed on the NASDAQ.
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