Kezar Life Sciences | 8-K: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -1.53.

EBIT: As of FY2025 Q3, the actual value is USD -12.74 M.

Cash and Cash Equivalents

• As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $90.2 million, a decrease from $132.2 million as of December 31, 2024, primarily due to cash used in operations.

Research and Development (R&D) Expenses

• R&D expenses for Q3 2025 were $6.9 million, a decrease of $9.3 million from $16.2 million in Q3 2024. This reduction was mainly due to decreased clinical activities, personnel costs, and facility-related expenses, partially offset by increased drug manufacturing expenses.

General and Administrative (G&A) Expenses

• G&A expenses for Q3 2025 were $4.8 million, down $0.9 million from $5.7 million in Q3 2024, primarily due to decreased non-cash stock-based compensation and personnel-related expenses.

Net Loss

• The net loss for Q3 2025 was $11.2 million, or $1.53 per basic and diluted share, compared to a net loss of $20.3 million, or $2.78 per basic and diluted share, in Q3 2024.

Total Shares Outstanding

• Total shares of common stock outstanding were 7.3 million as of September 30, 2025.

Outlook / Guidance

• Kezar Life Sciences is exploring strategic alternatives to maximize shareholder value, including cost-containment and cash conservation measures. The company has retained TD Cowen to assist with the strategic review process and has implemented a restructuring plan to reduce its workforce by approximately 70%.