Kezar receives unsolicited $1.10/share acquisition proposal from Concentra Biosciences

Kezar Life Sciences, Inc.

Concentra offers $1.10 per share plus a contingent value right for 80% of net proceeds from out-licensing or disposition of Kezar's programs.
Tang Capital Management, which beneficially owns ~9.9% of Kezar, is Concentra's controlling stockholder.
Kezar's Board will evaluate the non-binding proposal to determine the best course for stockholders; no immediate action required.

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