Kezar Life Sciences Faces Delisting Concerns

TL;DR

Kezar Life Sciences might be delisted, major red flag.

AI Summary

Kezar Life Sciences, Inc. filed an 8-K on May 31, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is based in South San Francisco, California, and its fiscal year ends on December 31.

Why It Matters

This filing indicates potential issues with Kezar Life Sciences' continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant concern for a publicly traded company.

Key Players & Entities

• Kezar Life Sciences, Inc. (company) — Registrant
• May 31, 2024 (date) — Date of earliest event reported
• South San Francisco, California (location) — Principal Executive Offices
• 001-38542 (identifier) — Commission File Number

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value KZR The Nasdaq Stock Mark
• $1.00 — Company's common stock had closed below $1.00 per share, the minimum closing bid pric

Filing Documents

• kzr-20240531.htm (8-K) — 41KB
• 0000950170-24-068730.txt ( ) — 149KB
• kzr-20240531.xsd (EX-101.SCH) — 23KB
• kzr-20240531_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed on a Current Report on Form 8-K filed by Kezar Life Sciences, Inc. (the "Company") on December 4, 2023, on December 1, 2023, the Company received a letter from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the previous 30 consecutive business days, the bid price of the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq Listing Rule 5450(a)(1). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until November May 29, 2024, to regain compliance with the minimum bid price requirement. As of the date of this Current Report on Form 8-K, the Company's common stock has not regained compliance with the minimum bid price requirement. However, the Company was notified by the Staff in a letter dated May 31, 2024 (the "Second Nasdaq Notice"), that the Company's application to transfer to the Nasdaq Capital Market was approved and the Company is eligible for an additional 180 calendar day period, or until November 25, 2024 (the "Second Compliance Date"), to regain compliance with the minimum bid price requirement. At the opening of business on June 4, 2024, the Company's common stock was transferred to the Nasdaq Capital Market, which operates in substantially the same manner as the Nasdaq Global Select Market, where it continues to trade under the symbol "KZR". The Company intends to actively monitor the closing bid price of its common stock between now and the Second Compliance Date and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule, including by effecting a reverse stock split, if necessary. If the Company does not regain compliance with

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KEZAR LIFE SCIENCES, INC. Date: June 4, 2024 By: /s/ Marc L. Belsky Marc L. Belsky Chief Financial Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR