Kezar Life Sciences reports 2023 net loss of $101.9M; cash at $201.4M; trial timelines reiterated

Kezar Life Sciences, Inc.

Cash, cash equivalents and marketable securities totaled $201.4M as of Dec 31, 2023, down from $276.6M year-end 2022.
Net loss for 2023 was $101.9M ($1.40 per share) vs $68.2M ($1.01 per share) in 2022.
R&D expenses for 2023 increased 68% to $85.7M, driven by PALIZADE, PORTOLA trials and milestone payment to Onyx.
Restructuring and impairment charges of $6.2M in Q4 2023 from employee termination benefits and asset impairment.
PALIZADE Phase 2b (lupus nephritis) and PORTOLA Phase 2a (autoimmune hepatitis) enrolling; topline data expected mid-2026 and mid-2025 respectively.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kezar Life Sciences, Inc. reported the fourth quarter and year ended December 31, 2023 results: revenue $7.0 million.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $7.0 million
Result: reported results

Exact text from the filing

Revenue for the year of 2023 was $7.0 million resulting from the upfront payment under the collaboration and license agreement with Everest Medicines.

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Source: SEC EDGAR

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