Kezar Life Sciences(US:KZR)2025-05-13 20:05Financial Performance - Cash, cash equivalents, and marketable securities totaled $114.4 million as of March 31, 2025, down from $132.2 million as of December 31, 2024, primarily due to cash used in operations[9] - Net loss for Q1 2025 was $16.6 million, or $2.27 per basic and diluted common share, compared to a net loss of $21.7 million, or $2.98 per basic and diluted common share, for Q1 2024[9] - Total stockholders' equity decreased to $103.1 million as of March 31, 2025, from $116.9 million as of December 31, 2024[12] - Total operating expenses for Q1 2025 were $17.6 million, down from $23.7 million in Q1 2024[13] Research and Development - Research and development (R&D) expenses for Q1 2025 decreased by $5.0 million to $12.2 million, compared to $17.2 million in Q1 2024, due to decreased clinical activities following the termination of the PALIZADE trial[9] - In the PORTOLA Phase 2a clinical trial, 36% of zetomipzomib-treated patients achieved a complete biochemical response and clinically significant steroid taper, compared to 0% of placebo patients[5] - The median duration of response in zetomipzomib patients achieving a complete response was 27.6 weeks, with no disease flares reported during the study[5] - The PORTOLA trial enrolled 24 patients, randomized (2:1) to receive 60 mg of zetomipzomib or placebo for 24 weeks[8] - The median urine protein-to-creatinine ratio (UPCR) was reduced by 79% from baseline in patients receiving 60 mg of zetomipzomib[6] General and Administrative Expenses - General and administrative (G&A) expenses for Q1 2025 decreased by $1.1 million to $5.4 million compared to $6.5 million in Q1 2024, primarily due to reduced legal and professional service expenses[9]