Pomerantz LLP is investigating claims on behalf of investors of Kezar Life Sciences, Inc. (“Kezar” or the “Company”).
The investigation concerns whether Kezar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 28, 2019, pre-market, Kezar announced preliminary data from the first two cohorts of an open-label dose escalation trial of the Company product KZR-616 in patients with systemic lupus erythematosus. Analysts characterized the trial’s efficacy data as “less than impressive” and noted that two healthy trial volunteers had required hospitalization.
Following this news, Kezar’s stock price fell $6.99 per share, or 41.39%, to close at $9.90 per share on May 28, 2019.