---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-238562"
form_type: "8-K"
ticker: "KZR"
cik: "0001645666"
company_name: "Kezar Life Sciences, Inc."
filed_at: "2024-10-17T23:59:59+00:00"
generated_at: "2026-05-30T13:20:40.051488+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Kezar ends lupus trial after fatal SAEs, adopts poison pill to block $1.10 bid

## Summary
- Discontinued PALIZADE Phase 2b in lupus nephritis after 4 Grade 5 SAEs (1 placebo); 84 patients enrolled.
- PORTOLA Phase 2a in autoimmune hepatitis continues; topline data due H1 2025.
- Board rejected Concentra's $1.10/share bid; adopted rights plan (10%/15% threshold, expires Oct 17, 2025).
- Preliminary cash ~$148M as of Sep 30, 2024; company says cash runway extended.
- Concentra accumulated 9.9% of KZR; grandfathered but cannot increase without triggering rights.

## SEC filing metadata
- accession: 0001193125-24-238562
- form_type: 8-K
- ticker: KZR
- cik: 0001645666
- company_name: Kezar Life Sciences, Inc.
- filed_at: 2024-10-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.02, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645666/000119312524238562/0001193125-24-238562-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645666/000119312524238562/d881241d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-238562
- JSON: https://secwatch.observer/filing/0001193125-24-238562.json
- Plain text: https://secwatch.observer/filing/0001193125-24-238562.txt

## Key facts
- Governance Changes
  Kezar Life Sciences, Inc.: Board approved Certificate of Designations establishing Preferred Shares; filed with Delaware Secretary of State on October 17, 2024 (effective 2024-10-17).
  - Change: charter amendment
  - Effective: 2024-10-17
  source text: the Board approved the Certificate of Designations establishing the Preferred Shares and the rights, preferences and privileges thereof. The Certificate of Designations was filed with the Secretary of State of the State of Delaware on October 17, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1645666/000119312524238562/0001193125-24-238562-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.