Kezar Life Sciences Inc 2026年季度报告

(Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from ______________ to ______________Commission File Number: 001-38542_______________________________________________________________________________________________ Kezar Life Sciences, Inc. (Exact Name of Registrant as Specified in its Charter)_______________________________________________________________________________________________ 47-3366145 (State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) 4000 Shoreline Court, Suite 300South San Francisco, CA, 94080(650) 822-5600(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)_______________________________________________________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Trading symbolKZR Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo As of May7, 2026, the registrant had 7,387,701 shares of common stock, $0.001 par value per share, outstanding. Table of Contents FINANCIAL INFORMATIONFinancial Statements (Unaudited)1Condensed Consolidated Balance Sheets1Condensed Consolidated Statements of Operations2Condensed Consolidated Statements of Comprehensive Loss3Condensed Consolidated Statement of Stockholders’ Equity4Condensed Consolidated Statements of Cash Flows5Notes to Unaudited Condensed Consolidated Financial Statements6Management’s Discussion and Analysis of Financial Condition and Results of Operations20Quantitative and Qualitative Disclosures About Market Risk26Controls and Procedures26OTHER INFORMATIONLegal Proceedings27Risk Factors27Other Information29Exhibits30 PART I. Item 2.Item 3.Item 4.PART II.Item 1.Item 1A.Item 5.Item 6. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, asamended (the “Exchange Act”), that involve substantial risks and uncertainties. In some cases, you can identify these statements byforward-looking words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “should,” “would,”“potential,” “project,” “plan,” “expect,” “seek,” “target” or similar expressions, or the negative or plural of these words or expressions.These forward-looking statements include statements concerning the following: •our ability to successfully consummate the transaction contemplated pursuant to the Merger Agreement (as defined in thisQuarterly Report) or, if we are not successful in consummating such transaction, our ability to successfully identify andimplement any other strategic alternative;•the possibility that our board of directors may decide to pursue a dissolution and liquidation, if a strategic transaction is notconsummated, and the amount of cash available for distribution to our stockholders in such event;•the expected timing and completion of the proposed Merger (as defined in this Quarterly Report), including the satisfaction ofconditions to the consummation of the Offer (as defined in this Quarterly Report) and the Merger;•the potential payments under the CVR Agreement (as defined in this Quarterly Report), including payments rel