Kezar Life Sciences Announces 70% Workforce Reduction As Part Of Strategic Restructuring Plan; Estimates $6M In Restructuring Costs; Expects To Recognize Costs In Q4 2025

On November 6, 2025, Kezar Life Sciences, Inc. (the "Company") implemented a restructuring plan pursuant to which the Company will reduce its workforce by approximately 31 employees, or approximately 70%. The Company implemented this restructuring plan in connection with its previously announced evaluation of strategic alternatives. The Company estimates that it will incur cash expenditures of approximately $6.0 million, consisting primarily of one-time severance payments, benefits and other related costs. The Company expects to recognize the majority of such costs in the fourth quarter of 2025. The estimated costs that the Company expects to incur, and the timing thereof, are subject to a number of assumptions, and actual amounts may differ materially.