{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-051592","form_type":"8-K","ticker":"KZR","cik":"0001645666","company_name":"Kezar Life Sciences, Inc.","filed_at":"2025-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.031949+00:00","generated_at":"2026-05-16T21:16:24.738342+00:00","sec_items":["2.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Kezar fails to align with FDA on zetomipzomib trial; cuts workforce 70%, begins strategic review","bullets":["Unable to align with FDA on registrational trial for zetomipzomib in autoimmune hepatitis; strategic review with TD Cowen initiated.","Workforce reduced by ~31 employees (70%); expects ~$6.0M in severance costs in Q4 2025.","Repaid $6.3M to Oxford Finance in full; cash and marketable securities $90.2M at September 30, 2025.","Net loss Q3 2025: $11.2M ($1.53/share) vs $20.3M ($2.78) in Q3 2024; R&D down to $6.9M from $16.2M.","Retained essential employees for value creation; 7.3M shares outstanding."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-051592","json":"https://secwatch.observer/filing/0001628280-25-051592.json","markdown":"https://secwatch.observer/filing/0001628280-25-051592.md","text":"https://secwatch.observer/filing/0001628280-25-051592.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1645666/000162828025051592/0001628280-25-051592-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1645666/000162828025051592/kzr-20251112.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T21:16:24.738342+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}