Financial Data and Key Metrics Changes - The Portola trial enrolled 24 patients, with 21 in a prespecified subgroup on steroid therapy. 36% of patients receiving zetomipsemib achieved complete biochemical remission by week 24 compared to none in the placebo arm [4][16] - The safety profile of zetomipsemib was favorable, with most treatment-emergent adverse events being grade one and two, primarily related to injection site reactions [5][19] Business Line Data and Key Metrics Changes - The trial demonstrated that responses to zetomipsemib were durable, with no flares reported for patients achieving complete remission [4][16] - 20 patients completed the double-blind treatment period, with 16 eligible for the open-label extension, indicating ongoing interest and potential for further data collection [11][12] Market Data and Key Metrics Changes - Autoimmune hepatitis affects nearly 100,000 patients in the United States, with a significant unmet need for effective treatments [5][21] - The trial results suggest that zetomipsemib could transform the treatment landscape for autoimmune hepatitis, a disease with limited therapeutic options [7][21] Company Strategy and Development Direction - The company aims to respond to the FDA regarding the partial clinical hold on the Portola study and plans to align with regulatory bodies for potential registrational studies [51] - Future studies may mandate steroid tapering as a key endpoint, reflecting a commitment to improving treatment protocols for autoimmune hepatitis [62] Management's Comments on Operating Environment and Future Outlook - Management emphasized the need for new agents in autoimmune hepatitis, highlighting the poor treatment options currently available [21][22] - The data from the Portola study is seen as a significant step forward, with the potential for zetomipsemib to be a novel and effective therapy for complex autoimmune disorders [22][49] Other Important Information - The trial included an open-label extension for patients, with ongoing data collection expected to provide further insights into the long-term efficacy and safety of zetomipsemib [11][12] - The demographics of the patient population were typical for autoimmune hepatitis, with a slight majority being older, white, and female [12][14] Q&A Session Summary Question: Concerns with zetomipsemib and lupus nephritis - Craig Lammert noted that injection site reactions were minor and manageable, with no significant safety concerns observed in the Portola study [57][60] Question: Biochemical remission without steroid taper - Christopher Kirk explained that the protocol suggested but did not mandate steroid tapering, with future studies possibly requiring it [62] Question: Infection rates in placebo vs. zetomipsemib arms - Kirk mentioned that overall infection rates were consistent across trials, and the reduced infection rate in the zetomipsemib arm should be interpreted cautiously [70][72] Question: Clinical meaningfulness of data in refractory patients - Craig Lammert highlighted the importance of reducing liver test abnormalities and corticosteroid dependency as significant clinical outcomes for patients [80] Question: Designing an optimal phase three study - Kirk acknowledged the lack of regulatory precedent and emphasized the need for alignment with the FDA on trial design and endpoints [85] Question: Impact of disease duration on therapy responsiveness - Kirk clarified that the duration of disease was balanced between the two arms, with no statistical difference noted [89]

Core Viewpoint - Kezar Life Sciences, Inc. (KZR) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook driven by an upward trend in earnings estimates [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which significantly influence stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling pressure that affects stock prices [4]. Company Performance Indicators - For the fiscal year ending December 2024, Kezar Life Sciences is expected to earn -$1.20 per share, reflecting an 8.4% change from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Kezar Life Sciences has increased by 3.2%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a 'Strong Buy' or 'Buy' rating [9][10]. - The upgrade of Kezar Life Sciences to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

& KEZAR Selective Targets. Broad Impact. Uniquely Powerful Approaches to Tackling the Toughest Diseases Corporate Overview September 2021 www.kezarlifesciences.com Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circums ...

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Corporate Presentation September 2020 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statem ...

Financial Data and Key Metrics Changes - Cash, cash equivalents, and marketable securities totaled $157.5 million as of June 30, 2020, compared to $78.2 million as of December 31, 2019, primarily due to net proceeds from public offerings [37] - Net loss for Q2 2020 was $9.5 million or $0.22 per share, compared to a net loss of $8.7 million or $0.46 per share for Q2 2019 [39] Business Line Data and Key Metrics Changes - Research and development expenses for Q2 2020 increased by $200,000 to $7.1 million compared to $6.9 million in Q2 2019, mainly due to advancing the protein secretion pre-clinical program [38] - General and administrative expenses for Q2 2020 increased by $300,000 to $2.7 million compared to $2.4 million in Q2 2019, primarily due to increased personnel expenses [38] Market Data and Key Metrics Changes - The company is focusing on the development of KZR-616 for severe autoimmune diseases and KZR-261 for solid tumors, with ongoing clinical trials impacted by COVID-19 [11][14] Company Strategy and Development Direction - The company aims to pioneer small molecule approaches against novel targets, with a focus on KZR-616 and KZR-261, to address severe autoimmune diseases and cancers [14][41] - The strategy includes reevaluating clinical development plans in light of new data and the ongoing pandemic, with a commitment to patient safety and effective treatment [12][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of their drug candidates and the ongoing commitment to advancing clinical programs despite challenges posed by COVID-19 [9][41] - The company is well-capitalized with a strong balance sheet, providing a runway to achieve its goals [15][37] Other Important Information - The MARINA study has been withdrawn due to a lack of patient enrollment and the need for protocol amendments [30] - The company plans to submit an IND for KZR-261 in Q1 2021 and initiate a first-in-human clinical trial shortly thereafter [34][55] Q&A Session Summary Question: What factors contributed to better tolerability on Cohort 2c? - Better tolerability was due to a combination of moving to a lyophilized formulation, step-up dosing, and supportive measures for patients [43] Question: Does the new formulation make the drug more stable? - The new formulation does not change stability but simplifies the formulation by removing an excipient that could cause adverse reactions [45] Question: When can we expect another update from the Stage 1b MISSION study? - An interim update is expected by the end of the year, with initial data anticipated in the first half of 2021 [50] Question: How has the PRESIDIO timeline been impacted by COVID-19? - Enrollment has slowed, pushing the completion timeline from the end of 2021 to mid-2022, but data integrity is not expected to be affected [51] Question: What is the rationale for the 50% reduction in proteinuria as a primary endpoint? - A 50% reduction in proteinuria is a standard measure of renal response based on past clinical trials [58] Question: Why was the MARINA study withdrawn? - The study was withdrawn due to a high screening failure rate and the need for a more inclusive protocol [59][77]

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Corporate Presentation August 2020 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statement ...

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Corporate Presentation March 2020 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements ...

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Investor Presentation October 2019 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statement ...

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Investor Presentation September 2019 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking stateme ...

Revolutionizing the Treatment of Autoimmune Disorders and Malignancies Phase 1b MISSION Study Data EULAR 2019 Forward-Looking Statements Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "expect," "plan," "anticipate," "target," and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking state ...