Kezar Life Sciences reports Q3 loss $20.3M; halts PALIZADE LN trial over fatal SAEs

Kezar Life Sciences, Inc.

2024-Q3 EPS reported -$8.72

Net loss $20.3M ($2.78/share) vs $23.1M ($3.18) in Q3 2023; cash, equivalents and marketable securities $148.4M (Dec 31: $201.4M).
Terminated PALIZADE Phase 2b lupus nephritis trial after 4 fatal serious adverse events; full clinical hold by FDA.
PORTOLA autoimmune hepatitis trial: topline data expected H1 2025; IDMC recommended continue; FDA partial hold on open-label extension.
Completed 1-for-10 reverse stock split on Oct 29, 2024 to regain $1.00 minimum bid compliance on Nasdaq.
R&D expenses decreased to $16.2M from $23.7M; G&A to $5.7M from $8.8M due to strategic restructuring.

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