Brokerages cheer Kezar after promising kidney disorder therapy data

Kezar Life Sciences

16/11/2021 14:15

(Updates)
    ** Shares of Kezar Life Sciences  KZR.O  jump 46% to $12.29
premarket, its highest in over two years, after reporting
positive interim data from a mid-stage study of the drugmaker's
kidney disorder therapy
    ** Stock is among top 3 pct gainers across U.S. exchanges
before the bell
    ** "We are encouraged by this early data given the
congruence with earlier efficacy data generated for KZR-616 and
the fact that the vast majority of patients showed favorable
impact for the drug despite the small size of the data set" - HC
Wainright
    ** Brokerage says the development increases brokerage's
valuation of Kezar to $1.14 bln versus prior $650 mln; raises PT
to $20 from $12
    ** JonesTrading raises target price to $20
    ** "The story is just starting for 616, given KZR has two
major catalysts planned for Q2 2022" - Jefferies
    ** Lupus nephritis occurs when certain antibodies produced
by the body affect the kidneys' ability to filter out waste,
potentially leading to inflammation as well as blood and protein
in the urine
    ** 3 of 5 patients achieved a 50% or greater reduction in
urine protein at week 25 compared to baseline, which was the
study's main goal- KZR
    ** KZR-616 was well tolerated, with no new safety concerns
and only mild-to-moderate adverse events - co  urn:newsml:reuters.com:*:nBw9gGnxNa
    ** KZR expects to report top-line data from the trial in the
second quarter of 2022
    ** KZR had risen 61.1% YTD, up to the last close

 (Reporting by Anisha Sircar and Amruta Khandekar in Bengaluru)
 ((Amruta.Khandekar@thomsonreuters.com;))