Private company
Kezar Life Sciences, Inc.
We are a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases.2
Last updated Oct 19, 2026.
Overview
- IndustryPharmaceutical Preparations2
- HeadquartersSouth San Francisco, United States2
- Incorporated inDE3
- Business address4000 Shoreline Court, Suite 300, South San Francisco, Ca 940803
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formCorporation2
- LEI549300EV1V8GXBV180042
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o CORPORATION SERVICE COMPANY, 251 Little Falls Drive, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 56714112
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We are a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases. In October 2025, we announced plans to explore strategic alternatives focused on maximizing stockholder value after being unable to align with the U.S. Food and Drug Administration, or FDA, on a potential registrational clinical trial of zetomipzomib, a novel, selective inhibitor of the immunoproteasome in patients with relapsed and refractory autoimmune hepatitis, or AIH. Following this announcement, we have been implementing a restructuring plan and wind-down of our business operations to focus on strategic alternatives for zetomipzomib development.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $06 | $07 | $7.0M5 | $05 | $05 | ||
| Research and development | $27.4M8 | $31.0M9 | $38.9M6 | $51.0M7 | $85.7M5 | $65.7M5 | $33.8M5 |
| Operating expenses | $54.7M6 | $71.2M7 | $118.4M5 | $90.6M5 | $59.1M5 | ||
| Operating income | -$37.3M8 | -$43.0M9 | -$54.7M6 | -$71.2M7 | -$111.4M5 | -$90.6M5 | -$59.1M5 |
| Interest | $09 | $159.0K6 | $1.2M6 | $1.6M6 | |||
| Income before tax | -$101.9M5 | -$83.7M5 | -$56.0M5 | ||||
| Income tax | $08 | $09 | $06 | $07 | $05 | $05 | $05 |
| Net income | -$35.1M8 | -$41.7M9 | -$54.6M6 | -$68.2M7 | -$101.9M5 | -$83.7M5 | -$56.0M5 |
| Earnings per share | -$0.959 | -$1.046 | -$10.137 | -$14.045 | -$11.495 | -$7.665 | |
| Earnings per share (diluted) | -$0.959 | -$1.046 | -$10.137 | -$14.045 | -$11.495 | -$7.665 | |
| Shares (weighted, basic) | 52.8M shares6 | 6.7M shares7 | 7.3M shares5 | 7.3M shares5 | 7.3M shares5 | ||
| Shares (weighted, diluted) | 52.8M shares6 | 6.7M shares7 | 7.3M shares5 | 7.3M shares5 | 7.3M shares5 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $15.0M13 | $21.2M8 | $62.9M9 | $40.5M6 | $35.5M7 | $41.7M5 | $71.9M5 |
| Current assets | $81.1M13 | $144.8M8 | $211.7M9 | $285.7M6 | $206.9M7 | $137.5M5 | $75.7M5 |
| Property, plant and equipment | $3.3M9 | $3.4M6 | $3.9M7 | $2.9M5 | $166.0K5 | ||
| Total assets | $89.5M13 | $151.8M8 | $217.9M9 | $299.6M6 | $221.2M7 | $144.7M5 | $76.6M5 |
| Accounts payable | $2.0M9 | $2.5M6 | $8.3M7 | $3.7M5 | $507.0K5 | ||
| Short-term debt | $07 | $5.2M5 | $05 | ||||
| Current liabilities | $6.0M13 | $6.4M8 | $8.2M9 | $11.0M6 | $17.7M7 | $20.3M5 | $6.6M5 |
| Long-term debt | $9.6M9 | $9.8M6 | $10.1M7 | $5.1M5 | $05 | ||
| Total liabilities | $11.5M13 | $10.9M8 | $21.1M9 | $29.7M6 | $33.7M7 | $27.8M5 | $6.6M5 |
| Retained earnings | -$180.7M9 | -$248.9M6 | -$350.8M7 | -$434.5M5 | -$490.5M5 | ||
| Shareholders’ equity | $78.0M9 | $141.0M6 | $196.9M7 | $269.9M5 | $187.6M5 | $116.9M5 | $70.1M5 |
| Shares outstanding | 19.2M shares13 | 46.4M shares8 | 56.3M shares9 | 68.5M shares6 | 7.3M shares7 | 7.3M shares5 | 7.3M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$29.9M8 | -$36.9M9 | -$42.4M6 | -$58.8M7 | -$81.6M5 | -$74.2M5 | -$51.8M5 |
| Depreciation and amortization | $1.5M6 | $1.0M7 | $1.1M5 | $1.0M5 | $897.0K5 | ||
| Stock-based compensation | $7.6M6 | $14.0M7 | $18.1M5 | $13.0M5 | $9.0M5 | ||
| Capital spending | $607.0K8 | $194.0K9 | $316.0K6 | $1.6M7 | $1.8M5 | $29.0K5 | $8.0K5 |
| Free cash flow | -$30.5M | -$37.1M | -$42.8M | -$60.4M | -$83.5M | -$74.2M | -$51.8M |
| Cash from investing | -$28.4M6 | -$91.4M7 | $76.0M5 | $80.4M5 | $92.5M5 | ||
| Dividends paid | $014 | $013 | $08 | $09 | $06 | $07 | $05 |
| Cash from financing | $112.6M6 | $127.9M7 | $638.0K5 | $103.0K5 | -$10.6M5 |
Leadership
Who has led Kezar Life Sciences, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerChristopher J. Kirk Nov 9, 2023 to now15
- PresidentChristopher J. Kirk Jun 20, 2018 to Jan 10, 202316
- Chief financial officerMarc Belsky Jun 20, 2018 to now17
- Chief operating officerMark C. Schiller Jul 3, 2025 to now18
Board members and other officers (17)
- SVP, Corporate ControllerPichi Luo Chiang Apr 16, 2025 to now19
- SVP, Clinical DevelopmentZung Phoung To Apr 16, 2025 to now20
- Chief Business OfficerNicholas Michael Mordwinkin Jul 15, 2022 to Jan 9, 202421
- Chief Medical OfficerNoreen Henig May 4, 2020 to Jul 26, 202322
- SVP, Strategy & External Aff.Vassiliki Economides Mar 6, 2019 to Mar 29, 202123
- Chief Medical OfficerNiti Goel Jun 20, 2018 to Jan 8, 201924
- Board memberMicki Klearman Jun 3, 2021 to now25
- Board memberCourtney Wallace Dec 10, 2021 to now26
- Board memberElizabeth Garner Dec 19, 2019 to now27
- Board memberBihua Chen Jun 20, 2018 to Jun 27, 201828
- Board memberChristopher J. Kirk Jun 20, 2018 to now16
- Board memberFranklin M. Berger Jun 20, 2018 to now29
- Board memberGraham K. Cooper Jun 20, 2018 to now30
- Board memberJason Dinges Jun 20, 2018 to Jun 30, 202131
- Board memberJean-Pierre Sommadossi Jun 20, 2018 to Jun 30, 202132
- Board memberMichael Kauffman Jun 20, 2018 to now33
- General counselMark C. Schiller Jan 17, 2024 to now34
Timeline
Filings
259 filings to the SEC since October 2021: 6 annual reports, 14 quarterly reports, 59 major events, 97 insider forms, 40 large holders, 43 other. The latest 20:
- May 28, 2026SCHEDULE 13G/A EDGAR
- May 21, 202615-12G EDGAR
- May 14, 2026EFFECT EDGAR
- May 13, 2026SCHEDULE 13D/A EDGAR
- May 12, 2026SCHEDULE 13G/A EDGAR
- May 12, 2026SCHEDULE 13G/A EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 202610-Q EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 20264 EDGAR
- May 11, 2026S-8 POS EDGAR
- May 11, 2026S-8 POS EDGAR
The 259 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
25 open-market trades by officers, directors and large owners since October 2021: 2 buys and 23 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 2, 2025 | Chiang Pichi LuoSVP, Corporate Controller | Sale | 264 | $4.28 | $1.1K | Form 4 |
| Jul 2, 2025 | Schiller Mark C.Chief Operating Officer | Sale | 561 | $4.28 | $2.4K | Form 4 |
| Jul 2, 2024 | Schiller Mark C.Chief Operating Officer | Sale | 6,688 | $0.58 | $3.9K | Form 4 |
| Feb 6, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 40,000 | $6.88 | $275.2K | Form 4 |
| Feb 3, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 25,000 | $7.15 | $178.8K | Form 4 |
| Feb 2, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 50,000 | $7.19 | $359.5K | Form 4 |
| Feb 1, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 40,000 | $6.95 | $278.0K | Form 4 |
| Jan 31, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 30,000 | $7.08 | $212.4K | Form 4 |
| Jan 30, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 30,000 | $6.91 | $207.3K | Form 4 |
| Jan 25, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 50,000 | $6.85 | $342.5K | Form 4 |
| Jan 24, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 80,000 | $6.98 | $558.4K | Form 4 |
| Jan 23, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 80,000 | $6.81 | $544.8K | Form 4 |
| Jan 17, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 6,114 | $6.79 | $41.5K | Form 4 |
| Jan 13, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 1,971 | $7.15 | $14.1K | Form 4 |
| Jan 12, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 5,000 | $6.77 | $33.9K | Form 4 |
| Jan 6, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 3,000 | $6.89 | $20.7K | Form 4 |
| Jan 5, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 12,162 | $6.97 | $84.8K | Form 4 |
| Jan 4, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 30,000 | $7.17 | $215.1K | Form 4 |
| Jan 3, 2023 | Morningside Venture Investments Ltd10% owner | Sale | 500 | $7.10 | $3.5K | Form 4 |
| Dec 29, 2022 | Morningside Venture Investments Ltd10% owner | Sale | 25,000 | $7.10 | $177.5K | Form 4 |
All 25 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Baselake Partners, LPSCHEDULE 13G/A, 3 filings Apr 6, 2026 to May 28, 202635
- TANG CAPITAL MANAGEMENT LLCSCHEDULE 13D/A, 3 filings Oct 8, 2024 to May 13, 202636
- BML Investment Partners, L.P.SCHEDULE 13G/A, 3 filings Mar 6, 2025 to May 12, 202637
- Stonepine Capital Management, LLCSCHEDULE 13G/A, 2 filings Sep 8, 2025 to Feb 13, 202638
- Avidity Partners Management LPSCHEDULE 13G/A, 5 filings Jan 3, 2022 to Nov 14, 202539
- BarclaysSCHEDULE 13G/A, 3 filings Feb 14, 2024 to Mar 21, 202540
- Equal Talent Investments LtdSCHEDULE 13D/A, 1 filing Mar 3, 202541
- Morningside Venture Investments LtdSCHEDULE 13D/A, 2 filings Aug 17, 2023 to Jan 16, 202542
- ORBIMED ADVISORS LLCSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202443
- MONTANOVA CAPITAL, LLCSC 13G/A, 3 filings Jun 13, 2022 to Feb 13, 202444
- Prosight Management, LPSC 13G/A, 2 filings Apr 21, 2023 to Feb 13, 202445
- State Street CorporationSC 13G/A, 2 filings Feb 3, 2023 to Jan 23, 202446
- MILLENNIUM MANAGEMENT LLCSC 13G/A, 4 filings Jun 23, 2022 to Jan 22, 202447
- BB BIOTECH AGSC 13G/A, 2 filings Feb 11, 2022 to Feb 14, 202348
- Franklin Templeton InvestmentsSC 13G/A, 2 filings Feb 4, 2022 to Jan 31, 202349
- Logos Global Management LPSC 13G/A, 1 filing Feb 14, 202250
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARChristopher J. Kirk, President
- 17SEC EDGARMarc Belsky, Chief financial officer
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- 22SEC EDGARNoreen Henig, Chief Medical Officer
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- 24SEC EDGARNiti Goel, Chief Medical Officer
- 25SEC EDGARMicki Klearman, Board member
- 26SEC EDGARCourtney Wallace, Board member
- 27SEC EDGARElizabeth Garner, Board member
- 28SEC EDGARBihua Chen, Board member
- 29SEC EDGARFranklin M. Berger, Board member
- 30SEC EDGARGraham K. Cooper, Board member
- 31SEC EDGARJason Dinges, Board member
- 32SEC EDGARJean-Pierre Sommadossi, Board member
- 33SEC EDGARMichael Kauffman, Board member
- 34SEC EDGARMark C. Schiller, General counsel
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