Kezar Life Sciences, Inc.: insider trades · United States · SEC (Form 4)

About Kezar Life Sciences, Inc.

Kezar Life Sciences, Inc. (ticker: KZR) is a U.S.-listed biotechnology company traded on the Nasdaq in the United States. For French-speaking investors, it fits the profile of a development-stage, clinical biotech where equity value is driven primarily by pipeline progress, intellectual property, and strategic optionality rather than recurring product revenue. The company was incorporated in Delaware in February 2015 and began operations in June 2015. Its principal operating base is South San Francisco, California, placing it in one of the most established biopharma clusters in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001645666/000162828026021737/kzr-20251231.htm?utm_source=openai)) Kezar has historically focused on developing novel small-molecule therapeutics for immune-mediated diseases and other unmet medical needs. Its development efforts centered on zetomipzomib, alongside former discovery and development programs. As disclosed in its latest annual filing, the company operates in a single segment and has not yet generated commercial product revenue, which is typical for a clinical-stage biotech still dependent on research execution and capital preservation. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001645666/000162828026021737/kzr-20251231.htm?utm_source=openai)) From a competitive standpoint, Kezar operated in a crowded and scientifically demanding field that includes immunology-focused biotech peers, autoimmune-disease developers, and companies pursuing targeted protein modulation. Its differentiation came from proprietary small-molecule chemistry and a mechanism-driven approach to disease biology. In this type of company, the investment case usually hinges on the quality of preclinical and clinical data, the credibility of the development plan, and the ability to fund operations through key milestones. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001645666/000162828026021737/kzr-20251231.htm?utm_source=openai)) Recent events are especially important. In October 2025, Kezar announced it was exploring strategic alternatives aimed at maximizing stockholder value. In November 2025, it reduced headcount by approximately 70% as part of that review process. On March 6, 2026, the company entered into an asset purchase agreement with Enodia Therapeutics SAS covering assets from its Sec61-based discovery and development program, including the internally known candidate KZR-261, in exchange for upfront and potential milestone payments. Then, on March 30, 2026, Kezar announced an agreement and plan of merger with Aurinia Pharmaceuticals Inc., underscoring that the company’s value proposition has become increasingly strategic and transaction-driven. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1645666/000162828026033104/kzr-20260331.htm?utm_source=openai)) Overall, KZR should be viewed as a U.S. Nasdaq-listed biotechnology name in transition, with its recent corporate actions, asset monetization, and merger agreement likely more material to the equity story than a conventional operating-company analysis. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001645666/000162828026021737/kzr-20251231.htm?utm_source=openai))