Kezar Life Sciences falls on terminating mid-stage lupus drug trial

Kezar Life Sciences

17/10/2024 14:34

** Shares of drug developer Kezar Life Sciences  KZR.O  drop
nearly 9% to $0.81 in early trade
    ** Kezar says it would discontinue its mid-stage trial for
its experimental drug in patients with active lupus nephritis
    ** Says it would focus its resources on the development of
the drug zetomipzomib for autoimmune hepatitis
    ** Earlier this month, the U.S. Food and Drug Administration
placed a clinical hold on the trial of the drug for lupus
    ** Separately, company also rejects a takeover proposal from
Concentra Biosciences for $1.10/share plus contingent value
right, saying "the deal substantially undervalues it"
    ** Stock down 5.6% YTD, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))