---
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"
generated_at: "2026-05-16T21:16:24.738342+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Kezar fails to align with FDA on zetomipzomib trial; cuts workforce 70%, begins strategic review

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-051592
- JSON: https://secwatch.observer/filing/0001628280-25-051592.json
- Plain text: https://secwatch.observer/filing/0001628280-25-051592.txt

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