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Kezer Life Sciences (KZR) Reports Positive Phase 2 Data, Jefferies Sees Registrational Path

June 28, 2022 8:56 AM EDT
Get Alerts KZR Hot Sheet
Price: $7.43 -0.67%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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Jefferies analyst Maury Raycroft reiterated a Buy rating and $20.00 price target on Kezer Life Sciences (NASDAQ: KZR) after the company reported better-than-expected top line phase 2 data, showing clear activity in R/R LN (n=17) on top of SOC meds (no induction) and validating zeto's novel immunomodulatory MOA in LN – sets stage for EOP2 2H22 (likely YE22) and eventual pivotal.

The analyst stated "KZR reported top-line efficacy that beat our expectations and showed: 1) 64.7% ORR (11/17) on primary endpt, 2) impressive 35.2% CRs (6/17), 3) 29.5% PRs (5/17), and 4) deepening responses in pts who completed add'l safety follow-up at wk 29 achieving 94.1% ORR (16/17) w/ 6 CRRs maintained." "Notably, countering bear arguments on steroid use, KZR actually reported clin meaningful tapering of daily prednisone from 19.2mg @baseline to 9.1mg @EOT to 8.6mg @wk29 and indicated pivotal will include protocol-mandated taper. Mean eGFR was stable throughout. Mgmt said they are aiming for earlier-line LN tx w/ zeto, and we should not rule out a design w/ induction in line w/ Benlysta/Lupkynis or possibility of 2 pivotals (one w/ induction & one w/o). KZR is pushing for EOP2 2H22 (likely YE22) but needs final dataset in hand (it submitted abstracts for ACR & ASN); co aims to move to ph.III asap."

For an analyst ratings summary and ratings history on Kezer Life Sciences click here. For more ratings news on Kezer Life Sciences click here.

Shares of Kezer Life Sciences closed at $5.78 yesterday.



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