Here are the 10-K annual reports from Kezar Life Sciences, Inc. (KZR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow KZR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KZR filings page.
Kezar Life Sciences (KZR) filed an amendment to its annual report to add Part III details on directors, executive pay, ownership, related-party transactions and auditor fees, and to update the exhibit list. The filing highlights a pending cash tender offer and proposed merger with Aurinia Pharma U.S. at $6.955 per share plus one contingent value right (CVR) per share.
Kezar notes it was unable to align with the FDA on a potential registrational trial for zetomipzomib, then began exploring strategic alternatives and implementing a restructuring and wind-down of operations. Executive contracts provide substantial change-in-control severance and full equity acceleration upon qualifying terminations tied to the merger.
Kezar Life Sciences is a clinical-stage biotech company centered on zetomipzomib, a first‑in‑class selective immunoproteasome inhibitor for severe autoimmune diseases, particularly autoimmune hepatitis (AIH). After failing to align with the FDA on a registrational AIH trial in 2025, the company began restructuring and winding down operations while exploring strategic alternatives such as mergers, partnerships or asset sales.
In 2026, Kezar held a successful Type C meeting in which the FDA agreed on key elements of a potential global Phase 2b AIH trial, including treatment duration, endpoints and enrollment criteria, and provided guidance on safety monitoring. Prior AIH data from the PORTOLA Phase 2a trial showed higher rates of complete biochemical remission with steroid taper and some steroid‑free remission versus placebo, with mainly manageable injection‑related side effects.
The lupus nephritis PALIZADE Phase 2b trial was placed on clinical hold and later terminated after serious adverse events, including four fatalities, and Kezar subsequently stopped its Sec61 oncology program. In March 2026, the company sold all Sec61‑related assets, including KZR‑261, to Enodia Therapeutics. Kezar maintains key licenses with Onyx and a regional collaboration with Everest for zetomipzomib and holds a global patent estate extending into the 2030s. As of March 2026 the company had 9 employees and emphasizes significant business, clinical, regulatory and financing risks while it evaluates strategic options.