Kezar Life Sciences posts narrower Q3 net loss, cuts workforce by 70%
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Kezar Life Sciences reported a narrower Q3 net loss of $11.2 million, down from $20.3 million last year. The company has reduced its workforce by 70% as part of a strategic review and implemented cost-containment measures. R&D expenses fell to $6.9 million, while G&A expenses decreased by $0.9 million. Analysts currently rate the stock as a "hold" with a median 12-month price target of $6.00, slightly below its recent closing price of $6.18.
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