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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________________________
FORM 8-K
__________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 2025
__________________________________________________________
Kezar Life Sciences, Inc.
(Exact name of Registrant as Specified in Its Charter)
__________________________________________________________
Delaware001-3854247-3366145
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)(IRS Employer
Identification No.)
4000 Shoreline Court, Suite 300
South San Francisco, California
94080
(Address of Principal Executive Offices)(Zip Code)
Registrant’s Telephone Number, Including Area Code: 650 822-5600
(Former Name or Former Address, if Changed Since Last Report)
__________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)
Name of each exchange on which registered
Common Stock, $0.001 par valueKZRThe Nasdaq Stock Market LLC
Preferred Share Purchase RightsN/AThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o



Item 2.02 Results of Operations and Financial Condition.
On March 25, 2025, Kezar Life Sciences, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year and quarter ended December 31, 2024 and reporting topline results from the PORTOLA Phase 2a trial evaluating zetomipzomib for the treatment of patients with autoimmune hepatitis. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure.
On March 25, 2025, the Company presented topline results from the PORTOLA Phase 2a trial evaluating zetomipzomib for the treatment of patients with autoimmune hepatitis. A copy of the slide presentation to be presented during this event is being furnished as Exhibit 99.2 Current Report on Form 8-K to this Current Report on Form 8-K. The Company undertakes no obligation to update, supplement or amend the materials attached hereto as Exhibit 99.2.
The information contained in Item 2.02 and Item 7.01 in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
99.1
99.2
104Cover Page Interactive Data File (embedded within the Inline XBRL document)





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:March 25, 2025By: /s/ Marc L. Belsky
Marc L. Belsky
Chief Financial Officer and Secretary

Exhibit 99.1
Kezar Life Sciences Announces Positive Topline Results from the PORTOLA Phase 2a Trial Evaluating Zetomipzomib for the Treatment of Patients with Autoimmune Hepatitis (AIH) and Reports Fourth Quarter and Year End 2024 Financial Results
Company-hosted conference call and webcast to be held today at 8:00 a.m. ET
Zetomipzomib treatment results in steroid-sparing biochemical remissions in accordance with AASLD treatment guidelines in a difficult-to-treat, refractory AIH patient population.
In relapsed, steroid-dependent AIH patients, of the 21 of 24 entering screening on steroid-based therapy, 36% (5 of 14) of zetomipzomib-treated patients achieved a complete biochemical response (CR) and clinically significant steroid taper to 5 mg/day or less, compared to 0 of 7 of placebo patients.
In the intention-to-treat (ITT) population, 31% (5 of 16) of zetomipzomib patients achieved a CR and steroid taper (≤5 mg/day), compared to 1 of 8 placebo patients.
Median duration of response in zetomipzomib patients achieving a CR was 27.6 weeks (including the ongoing open-label extension), and no disease flares were reported in any zetomipzomib-treated patient achieving CR during study.
Favorable safety profile was observed during the 6-month, blinded treatment period.
Cash, cash equivalents and marketable securities totaled $132 million as of December 31, 2024
SOUTH SAN FRANCISCO, Calif.—March 25, 2025 — Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases, today reported positive topline results from the PORTOLA Phase 2a clinical trial evaluating zetomipzomib, a novel, first-in-class selective immunoproteasome inhibitor, in patients with autoimmune hepatitis (AIH) and reported fourth quarter and year end 2024 financial results.
“We are pleased to announce these exciting results from the PORTOLA trial, the first successful randomized study in treatment-refractory AIH,” said Chris Kirk, CEO and co-founder of Kezar. “We are encouraged by the safety and efficacy data in this difficult-to-treat patient population, specifically durable and steroid-sparing remissions experienced by patients treated with zetomipzomib. We are eager to work with the FDA Division of Hepatology and Nutrition to remove the partial clinical hold and align on an appropriate trial design to demonstrate the clinical benefit of zetomipzomib in AIH. I’d like to thank the team at Kezar, the physicians and staff at our clinical trial sites, and most importantly, the patients and their caregivers, for their participation, sacrifice and hard work.”
“I am impressed by the totality of efficacy and safety data from the PORTOLA study,” said Gideon Hirschfield, Chair of Autoimmune Liver Disease Research and Director of the Francis Family Liver Clinic, at the Toronto General Hospital. “Zetomipzomib represents a potent and targeted therapy for patients, and I believe these results will positively contribute to the design of a registrational trial of zetomipzomib in AIH, where patients are in need of better treatment options.”
PORTOLA is a placebo-controlled, randomized, double-blind Phase 2a clinical trial evaluating the efficacy and safety of zetomipzomib in patients with AIH that are insufficiently responding to standard of care or



have relapsed from a previous CR. The trial enrolled 24 patients, randomized (2:1) to receive 60 mg of zetomipzomib or placebo in addition to background therapy for 24 weeks, with a protocol-suggested steroid taper. All patients were required to receive a starting daily steroid dose of 20-40 mg/day of prednisone (or budesonide equivalent) and physicians were encouraged to taper daily steroid usage to 5 mg/day consistent with AIH treatment guidelines established by the American Association for the Study of Liver Diseases (AASLD).
The primary efficacy endpoint of PORTOLA, which was not powered for efficacy, evaluated the proportion of patients who achieved a CR by Week 24, measured as normalization of alanine aminotransferase (ALT), aspartate aminotransferase (AST) and Immunoglobulin G (IgG) values (if elevated at baseline), with steroid dose levels not higher than baseline. A key secondary endpoint was the proportion of patients who achieved a CR by Week 24 with a steroid dose of 5 mg/day or less. The PORTOLA trial included a pre-specified subgroup analysis of patients who were on steroid-based therapy at the time of screening, which represents a patient population with unmet medical needs for a potential future registrational study. Additional exploratory endpoints included changes in histologic assessment of AIH as measured in biopsies taken within six months of screening and repeated at Week 24 of the trial.
Summary of Topline Results
PORTOLA enrolled 24 patients as the ITT population. Consistent with the AASLD treatment goals, zetomipzomib treatment resulted in higher rates of complete biochemical responses (CR) combined with reduction of steroid dosage to 5 mg/day or less, compared to placebo. In the ITT population:
Without regard to steroid taper, 50.0% (8 of 16) of zetomipzomib patients achieved a CR, compared to 37.5% (3 of 8) of placebo patients.
31.3% (5 of 16) of zetomipzomib patients achieved both a CR and steroid taper to 5 mg/day or less, compared to 12.5% (1 of 8) of placebo patients.
18.8% (3 of 16) of zetomipzomib patients achieved both a CR and complete steroid withdrawal to zero mg/day, compared to 0% (0 of 8) of placebo patients.
Median duration of response in zetomipzomib patients achieving a CR was 27.6 weeks (including the ongoing open-label extension), and no disease flares were reported in any zetomipzomib-treated patient achieving CR. Disease flares were defined as a sustained increase in ALT values to 25% above the CR value or 1.25-fold higher than the upper limit of normal for more than one week and requiring a restart or increase in steroid dose.
In the pre-specified subgroup analysis, 21 of the 24 patients entered the study on a steroid-based therapy at the time of screening. One patient in the placebo arm and two patients in the zetomipzomib arm were not receiving steroids at screening. All patients on study were required to initiate treatment with an initial prednisone dose of 20–40 mg/day. Of the 21 patients in this subgroup analysis:
Median steroid use at screening was 20 mg/day for patients enrolled in the zetomipzomib arm, compared to 10 mg/day in the placebo arm, indicating that the zetomipzomib-treated arm was more refractory than the placebo arm.
Without regard to steroid taper, 57.1% (8 of 14) of zetomipzomib patients achieved a CR, compared to 28.6% (2 of 7) of placebo patients.



35.7% (5 of 14) of patients on the zetomipzomib arm achieved a CR and steroid taper to 5 mg/day or less, compared to 0% (0 of 7) of placebo patients.
21.4% (3 of 14) of patients on the zetomipzomib arm achieved a CR and complete steroid withdrawal to zero mg/day, compared to 0% (0 of 7) of placebo patients.
Safety
Treatment-emergent adverse events (TEAEs) were seen in all patients, with injection site reactions (ISRs) being the most commonly reported TEAE in both arms. Systemic injection reactions (SIRs), with onset occurring 8 to 24 hours post-dose and usually resolving within 48 hours, were all Grade 1 and Grade 2. SIRs are a protocol-defined set of specific adverse events (AEs) consisting of one or more of the following signs/symptoms: hypotension, tachycardia, nausea, vomiting, dizziness, headache, pyrexia, rigors and/or chills.
Three patients experienced treatment-emergent serious adverse events (SAEs): one in the placebo arm, a Grade 3 variceal bleeding with hematemesis and atrial fibrillation; and two in the zetomipzomib arm, a Grade 3 fever occurring after the Week 24 liver biopsy, and a Grade 3 influenza infection that fully resolved during study. All SAEs were considered unrelated to study treatment, and all three patients completed the double-blind treatment period. Infectious AEs were reported in 85.7% (6 of 7) of patients in the placebo arm and 56.3% (9 of 16) of patients in the zetomipzomib arm. One patient discontinued from the placebo arm for a UTI requiring antibiotic treatment prior to receiving a dose on study, and three patients discontinued on the zetomipzomib arm for a Grade 1 fatigue, Grade 2 hives and a Grade 2 AIH disease flare. The safety population (n=23) includes all patients who received at least one dose of study treatment:

PlaceboZetomipzomib
n=7n=16
Adverse Events in Double-blind Treatment Periodn (%)n (%)
Participants with at least 1 Treatment Emergent Adverse Event (TEAE)7 (100.0)16 (100.0)
Most common TEAE:
Injection Site Reaction (ISR)4 (57.1)15 (93.8)
Systemic Injection Reaction (SIR)1 (14.3)12 (75.0)
TEAE leading to study drug discontinuation0 (0)3 (18.8)
Grade 3 TEAE (no Grade 4 or 5 TEAEs reported)1 (14.3)
3 (18.8)
Serious TEAE1 (14.3)2 (12.5)
Infectious TEAE6 (85.7)9 (56.3)
Grade ≥3 Infectious TEAE 0 (0)1 (6.3)
Opportunistic Infections0 (0)0 (0)
Death 0 (0)0 (0)
Financial Results
Cash, cash equivalents and marketable securities totaled $132.2 million as of December 31, 2024, compared to $201.4 million as of December 31, 2023. The decrease was primarily attributable to cash used in operations to advance clinical-stage programs.
Revenue decreased by $7.0 million in 2024 compared to 2023 due to the October 2023 upfront payment received under the collaboration and license agreement with Everest Medicines.



Research and development (R&D) expenses for the fourth quarter of 2024 decreased by $6.6 million to $16.0 million, compared to $22.6 million in the fourth quarter of 2023. Full year R&D expenses decreased by $20.0 million to $65.7 million in 2024, compared to $85.7 million in 2023. This decrease was primarily due to the Company’s strategic restructuring in October 2023 to prioritize its clinical-stage programs, reducing personnel-related costs and spending in its early-stage research activities, and a $5.0 million milestone payment made in 2023 under Kezar’s exclusive license agreement with Onyx Therapeutics. The decrease was partially offset by the increased clinical trial costs related to the PALIZADE and PORTOLA trials.
General and administrative (G&A) expenses for the fourth quarter of 2024 decreased by $0.3 million to $5.5 million compared to $5.8 million in the fourth quarter of 2023. Full year G&A expenses decreased by $3.1 million to $23.4 million in 2024, compared to $26.5 million in 2023. The decrease was primarily due to a decrease in legal and professional service expenses and non-cash stock-based compensation.
Restructuring and impairment charges decreased by $4.7 million to $1.5 million in 2024, compared to $6.2 million in 2023. The decrease was primarily related to one-time severance-related costs made in 2023 and higher impairment costs recognized in 2023 than 2024 on the right-of-use asset for the vacated floor in the leased office facility and certain equipment no longer utilized.
Net loss for the fourth quarter of 2024 was $20.2 million, or $2.77 per basic and diluted common share, compared to a net loss of $32.3 million, or $4.44 per basic and diluted common share, for the fourth quarter of 2023. Net loss for 2024 was $83.7 million, or $11.49 per basic and diluted common share, compared to a net loss of $101.9 million, or $14.04 per basic and diluted common share in 2023. The weighted-average shares used to compute net loss per basic and diluted common share have been retroactively adjusted to reflect the one-for-ten reverse stock split completed on October 29, 2024.
Total shares of common stock outstanding was 7.3 million shares as of December 31, 2024, after taking into effect the one-for-ten reverse stock split completed on October 29, 2024.
Conference Call and Webcast
Kezar Life Sciences will host a webcast and conference call today, March 25, 2025, at 8:00 a.m. ET to discuss topline results from the PORTOLA Phase 2a clinical trial. To access the live audio webcast with slides and dial-in information as needed, please register here: https://kezar-life-sciences-portola-phase-2a-topline-results.open-exchange.net/
A live webcast of the event can also be found on the Kezar website at https://ir.kezarlifesciences.com/news-events/events-presentations. A replay of the event will be available for 90 days following the presentation.
About Zetomipzomib
Zetomipzomib is a novel, first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases. Preclinical research demonstrates that selective immunoproteasome inhibition results in a broad anti-inflammatory response in animal models of several autoimmune diseases, while avoiding immunosuppression. Data generated from completed clinical trials provide evidence that zetomipzomib exhibits a favorable safety and tolerability profile for development in severe, chronic autoimmune diseases.



About Autoimmune Hepatitis
Autoimmune hepatitis (AIH) is a rare chronic disease in which the immune system attacks the liver and causes inflammation and tissue damage, severely impacting patients’ physical health and quality of life. Lifelong maintenance therapy is required to avoid relapse and burdensome adverse effects. If left untreated, AIH can lead to cirrhosis, liver failure and hepatocellular carcinoma. In the United States, AIH affects approximately 100,000 individuals, with incidence rates increasing. The cause of this condition remains unclear, with females affected four times as often as males. Currently, standard of care treatment for AIH is chronic, immunosuppressive treatment with corticosteroids that frequently cause life-altering side effects, including diabetes, osteoporotic fractures and cataracts. There is a significant need for treatment regimens that reduce or remove the need for chronic immunosuppression from use of corticosteroids.
About Kezar Life Sciences
Kezar Life Sciences is a clinical-stage biopharmaceutical company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases. Zetomipzomib, a selective immunoproteasome inhibitor, is currently being evaluated in a Phase 2a clinical trial for autoimmune hepatitis. This product candidate also has the potential to address multiple chronic immune-mediated diseases. For more information, visit www.kezarlifesciences.com, and follow us on LinkedIn, Facebook, Twitter and Instagram.
Cautionary Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “can,” “should,” “expect,” “believe,” “potential,” “anticipate” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Kezar’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Kezar’s clinical development programs, future results or performance to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the design, initiation, progress, timing, scope and results of ongoing and potential future clinical trials, preliminary nature of topline data from our clinical trials, the likelihood that data will support future development and therapeutic potential, the association of data with treatment outcomes, expectations regarding the removal of the partial clinical hold in the PORTOLA trial and the initiation of a registrational trial of zetomipzomib in AIH, and the likelihood of obtaining regulatory approval of zetomipzomib. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during clinical studies, difficulties enrolling and conducting our clinical trials, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Kezar’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as required by law, Kezar assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.



KEZAR LIFE SCIENCES, INC.
Selected Balance Sheets Data
(In thousands)
December 31, 2024December 31, 2023
Cash, cash equivalents and marketable securities$132,245$201,372
Total assets144,682221,235
Total current liabilities20,32917,744
Total noncurrent liabilities7,43715,921
Total stockholders' equity116,916187,570

Summary of Operations Data
(In thousands except share and per share data)

Three Months EndedYear Ended
December 31December 31
2024202320242023
Collaboration revenue$$$$7,000
Operating expenses:
Research and development16,03022,64365,74285,697
General and administrative5,5455,75923,39326,540
Impairment charge(12)6,1871,4706,187
Total operating expenses21,56334,58990,605118,424
Loss from operations(21,563)(34,589)(90,605)(111,424)
Interest income1,7342,7288,46211,104
Interest expense(389)(399)(1,593)(1,550)
Net loss$(20,218)$(32,260)$(83,736)$(101,870)
Net loss per common share, basic and diluted$(3)$(4)$(11)$(14)
Weighted-average shares used to compute net loss per common share, basic and diluted (1)
7,300,0077,273,6967,290,2457,255,365

(1)Shares outstanding have been retroactively adjusted to reflect the one-for-ten reverse stock split completed on October 29, 2024.

Investor and Media Contact:
Gitanjali Jain
Senior Vice President, Investor Relations and External Affairs
Kezar Life Sciences, Inc.
[email protected]

Topline Results from the PORTOLA Phase 2a Trial in Autoimmune Hepatitis (AIH) Exhibit 99.2


 
Forward-Looking Statements and Topline Data Disclaimer The material in this presentation (this “Presentation”) regarding Kezar Life Sciences, Inc. (“Kezar”) is for informational purposes only. This Presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expect,” “believe”, “plan” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Kezar’s expectations and assumptions as of the date of this Presentation. Each of these forward-looking statements involves risks and uncertainties that could cause Kezar’s clinical development programs, future results or performance to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this Presentation include, but are not limited to, statements about the design, progress, timing, scope and results of current and future clinical trials of zetomipzomib, the preliminary nature of topline data, anticipated regulatory submissions, safety findings relating to the clinical hold on zetomipzomib, the likelihood that data will support future development and therapeutic potential of zetomipzomib, the association of data with treatment outcomes, and the likelihood of initiating a registrational trial of zetomipzomib in autoimmune hepatitis or obtaining regulatory approval of zetomipzomib. Many factors may cause differences between current expectations and actual results, including the performance of audit and verification procedures on topline data, safety or efficacy data observed during clinical studies, changes in expected or existing competition, uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this Presentation are discussed in Kezar’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” contained therein. Except as required by law, Kezar assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.​ Certain information contained in this Presentation related to or is based on studies, publications, surveys and other data obtained from third-party sources and Kezar’s own internal estimates and research. While Kezar believes these third-party sources to be reliable as of the date of this Presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of any information obtained from third-party sources. In addition, all of the market data included in this Presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while Kezar believes its own internal research is reliable, such research has not been verified by any independent source. 2


 
Christopher J. Kirk, PhD Chief Executive Officer, Co-founder Craig Lammert, MD Associate Professor of Medicine Indiana University School of Medicine Director, Autoimmune Hepatitis Association Agenda 8:00 AM – 8:05 AM ET Opening Remarks Christopher J. Kirk, PhD 8:05 AM – 8:20 AM ET PORTOLA Clinical Trial Christopher J. Kirk, PhD 8:20 AM – 8:30 AM ET PORTOLA Experience Craig Lammert, MD 8:30 AM – 8:35 AM ET Unmet Need in AIH and Zetomipzomib Gideon Hirschfield, FRCP, PhD 8:35 AM – 8:40 AM ET Next Steps and Closing Remarks Christopher J. Kirk, PhD 8:40 AM – 8:50 AM ET Question & Answer Session SPEAKERS Gideon Hirschfield, FRCP, PhD Lily and Terry Horner Chair in Autoimmune Liver Disease Research, Professor University of Toronto 3


 
Successful Outcome in PORTOLA Study 4 Ph 2 Trial of zetomipzomib vs. placebo in AIH patients with relapsed disease or inadequate response to prior therapy • Intent to Treat Population (ITT; n=24) • Pre-specified subgroup of patients entering study on steroid-based therapy (likely registrational population; n=21) Efficacy: • 36% of zetomipzomib-treated patients (5/14) that were on steroid-based therapy at the time of screening achieved a steroid-sparing complete biochemical remission (CR) by Week 24 vs. 0% of patients in placebo arm (0/7) • In the ITT population, 31.3% of zetomipzomib-treated patients (5/16) achieved a steroid-sparing CR by Week 24 vs. 12.5% of patients in placebo arm (1/8) • Zetomipzomib responses were durable with no disease flares in CR patients on study • Histologic improvements (including remissions) seen after 6 months of therapy Safety: • Most common treatment emergent adverse events (TEAEs) were injection site reactions (ISRs) and systemic injection reactions (SIRs), all of which were Grade 1 or Grade 2 • All serious adverse events (SAEs) (all Grade 3) were considered unrelated (2 patients in zetomipzomib arm, 1 patient in placebo arm) Zetomipzomib Demonstrates Rapid Disease Modifying Activity in a Difficult-to-Treat Population of Patients with Autoimmune Hepatitis (AIH) PORTOLA results support registrational program in AIH, a disease affecting ~100,000 patients in the US


 
Autoimmune Hepatitis (AIH) is a Complex Disease with Poor Treatment Options ~100,000 cases in US (similar prevalence in EU) 4:1 female to male • Diagnosis involves presence of elevated liver enzymes (ALT/AST) and immunoglobulin G (IgG), inflammatory cell infiltration in the liver, elevated autoantibodies (ANA, SMA) • Current standard of care involves long term use of corticosteroids and immunosuppressants • 30 – 50% of patients fail to achieve an adequate response (complete biochemical remission) to therapy and/or are intolerant to standard of care • Poor treatment outcomes result in progression to cirrhosis, liver failure, and hepatocellular carcinoma 5


 
Treatment Goals in Newly Diagnosed AIH are Focused on Biochemical Normalization and Low Daily Steroid Dose Abbreviations: AASLD, American Association for the Study of Liver Diseases; ALT, alanine aminotransferase; AST, aspartate aminotransferase; EASL, European Association for the Study of the Liver; IgG, Immunoglobulin G. References: 1. Mack CL et al. Diagnosis and Management of Autoimmune Hepatitis in Adults and Children: 2019 Practice Guidance from the American Association for the Study of Liver Diseases (AASLD). Hepatology. 2020;72(2):671-722. doi: 10.1002/hep.3106. 2. European Association for the Study of the Liver. EASL Clinical Practice Guidelines: Autoimmune Hepatitis. J Hepatol. 2015;63(4):971-1004. doi: 10.1016/j.jhep.2015.06.030. Biochemical Remission Criteria ALT, AST, & IgG normalization ALT, AST, & IgG normalization Steroid Dose Prednisone 20-40 mg/d with taper to ≤5-10 mg/d 0.5-1 mg/kg/d prednis(ol)one with taper to ≤5 mg/d Immunosuppressant Therapy Azathioprine 50-150 mg/d Azathioprine 1-2 mg/kg/d AASLD1 EASL2 6


 
Broad Therapeutic Potential • Rapid onset of activity • Minimal risk for immunosuppression • Steroid sparing agent • No lab monitoring required • Active in patients with severe and treatment refractory disease Broad Immunomodulatory Activity • Reduction of multiple inflammatory cytokines from APC • Reduced inflammatory T-cell activity (Th1 and Th17) • Increased Treg function • Decreased plasma cell activity and autoantibody production Selective Inhibition of the Immunoproteasome Impacts Multiple Drivers of AIH Zetomipzomib Targets Multiple Immune Effector Cells Involved in Autoimmunity Cellular Dysfunction Observed in AIH Treg Autoreactive CD4 cellAPC Immune mediators Autoantibodies TNF, IL-12 Cell damage Autoimmune response Treg Autoreactive CD4 cellAPC B cell Zetomipzomib 7


 
Evaluating the Safety and Efficacy of Zetomipzomib in Relapsed or Insufficient Responding Autoimmune Hepatitis PORTOLA: Phase 2a Placebo-Controlled Trial Adult patients with AIH (N=24) Optional Open-Label Extension Treatment Period Randomization 2:1 Up to 24 weeks of treatment Zetomipzomib 60 mg once weekly + Prednisone Double-Blind Treatment Period 1st dose 30 mg Zetomipzomib 60 mg once weekly + Prednisone 20-40 mg/day with protocol suggested taper to 5 mg/day by Week 14 Prednisone taper to 5 mg/d W14Baseline (W0) W24 24 weeks of treatment Endpoint Assessments (descriptive statistics) Prednisone ≤5 mg/d https://clinicaltrials.gov/ct2/show/NCT05569759 1.Ishak K et al. J Hepatol. 1995 June;22(6):696-9. Abbreviations: AIH, autoimmune hepatitis; ALT, alanine aminotransferase. Clinical diagnosis of AIH and signs of active disease despite standard-of-care therapy for ≥3 months or disease flare after experiencing complete response induced by standard-of-care treatment, including: Key Inclusion Criteria Placebo once weekly + Prednisone 20-40 mg/day with protocol suggested taper to 5 mg/day by Week 14 Screening ALT values that are 1.25 to 10 times ULN Liver biopsy results with Ishak score1 (modified HAI) ≥5 (18 max) indicating active AIH, from a biopsy performed at screening or within 6 months prior to screening Mild or no hepatic impairment (Child-Pugh category A) 8


 
9 PORTOLA Efficacy Endpoints Primary Efficacy Endpoint • Proportion of patients who achieve a complete biochemical response (CR) by Week 24 • CR defined as normalization of ALT, AST and IgG levels (if IgG levels were elevated at Baseline) with steroid dose not higher than Baseline dose Key Secondary Efficacy Endpoints (Target of Treatment Guidelines) • Proportion of patients who achieve a CR and a successful glucocorticoid taper by Week 24 Prespecified Subgroup Analysis • Proportion of patients entering study (screening) on daily steroid use who achieve CR � steroid taper by Week 24 Exploratory Efficacy Endpoints • Change from baseline in liver histopathology at Week 24, based on Ishak score (modified Histological Activity Index [HAI]) • Change from baseline in liver stiffness at Week 24, assessed by vibration-controlled transient elastography (VCTE) utilizing Fibroscan®


 
Completed OLE N=3 OLE Ongoing* N=1 Entered OLE N=9 Completed DBTP N=13 Zetomipzomib QW N=16 Discontinued Treatment† N=3 †Reasons for discontinuation: AIH flare (treatment failure per protocol), fatigue, hives, PORTOLA Patient Disposition *As of 01-March 2025. Abbreviations: DBTP, double-blind treatment period; OLE, open-label extension; QW, weekly; UTI: Urinary Tract Infection. ^Developed UTI post randomization requiring antibiotic treatment (not dosed) Randomized N=24 Screened N=55 Completed OLE N=2 OLE Ongoing* N=1 Entered OLE N=5 Completed DBTP N=7 Placebo QW N=8 Not Treated^ N=1 10


 
PORTOLA Demographics and Baseline Characteristics (ITT Population) Placebo N=8 Zetomipzomib N=16 Total N=24 Age, median (min, max), years 54.0 (26, 72) 59.0 (25, 75) 57.5 (25, 75) Female, n (%) 6 (75.0) 8 (50.0) 14 (58.3) Race, n (%) White 7 (87.5) 13 (81.3) 20 (83.3) Ethnicity, n (%) Hispanic or Latino 1 (12.5) 2 (12.5) 3 (12.5) AIH duration, median (min, max), years 6.7 (0.4, 21.3) 3.4 (0.2, 19.7) 5.0 (0.2, 21.3) Time from biopsy to baseline, median (min, max), weeks 2.9 (26.6, 2.0) 8.4 (34.0, 0.9) 3.7 (34.0, 0.9) Ishak score, median (min, max) 8.0(5, 13) 7.0 (5, 12) 7.0 (5, 13) Liver stiffness, median (min, max), kPa 9 (4.7, 48.6) 11 (2.8, 74.7) 10 (2.8, 74.7) Laboratory values, median (min, max) ALT (U/L) 115.3 (46.5, 258.5) 106.3 (38, 220) 108.5 (38.0, 258.5) AST (U/L) 95.0 (59.5, 187.0) 63.5 (30.5, 225.0) 76.3 (30.5, 225.0) IgG (mg/dL) in those with elevated IgG at baseline (n=5) 2015 (1765, 2960) (n=9) 2185 (1620, 3880) (n=14) 2100 (1620, 3880) ALP (U/L) 84 (27, 143) 108 (74, 202) 95 (27, 202) Bilirubin, total (umol/L) 9 (4.6, 27.9) 9 (2.6, 21.9) 9 (2.6, 27.9) Bilirubin, direct (umol/L) 3 (3.4, 7.9) 3 (3.4, 9.7) 3 (3.4, 9.7) Albumin (g/L) 41 (0.04, 49) 42 (36, 48) 42 (0.04, 49) PT/INR ratio 1 (0.9, 1.2) 1 (0.9, 1.3) 1 (0.9, 1.3) Placebo N=8 Zetomipzomib N=16 Total N=24 Antibodies ANA positive, n (%) 6 (75.0) 14 (87.5) 20 (83.3) SMA positive, n (%) 4 (50.0) 8 (50.0) 12 (50.0) LKM-1 positive, n (%) 0 (0) 0 (0) 0 (0) LC-1 positive, n (%) 1 (12.5) 0 (0) 1 (4.2) SLA, median (min, max) 2 (1, 116.1) 3 (1.4, 118.9) 3 (1, 118.9) Concomitant medications at baseline Prednisone (or equivalent), n (%) 7 (87.5) 16 (100) 23 (95.8) Prednisone (or equivalent)* dose in mg/day, median (min, max) 20 (20, 20) 20 (20, 30) 20 (20, 30) Azathioprine, n (%) 3 (37.5) 4 (25.0) 7 (29.2) Azathioprine dose in mg/d, median (min, max) 50 (50, 50) 75 (50, 150) 50 (50, 150) Mycophenolate mofetil or mycophenolic acid, n (%) 1 (12.5) 8 (50.0) 9 (37.5) Tacrolimus, n (%) 1 (12.5) 3 (18.8) 4 (16.7) Cyclosporine, n (%) 1 (12.5) 0 (0) 1 (4.2) # of patients receiving >1 immunosuppressant, n (%) 1 (12.5) 2 (12.5) 3 (12.5) # of patients without any immunosuppressant, n (%) 3 (37.5) 3 (18.8) 6 (25.0) Abbreviations: AIH, autoimmune hepatitis; ALP, alkaline phosphatase; ANA, antinuclear antibody; ALT, alanine aminotransferase; AST, aspartate aminotransferase; IgG, immunoglobulin G; LC-1, liver cytosol type 1 antibody; LKM-1, liver kidney microsomal antibodies; PT/INR, prothrombin time/international normalized ratio; SMA, smooth muscle antibody; SLA, soluble liver antigen. ALP normal range female= 30-115 U/L; ALP normal range male= 43-115 U/L; ALT normal range female= 10-33 U/L; ALT normal range male= 10-40 U/L; AST normal range female= 10–36 U/L; AST normal range male= 10-43 U/L; Bilirubin normal range= up to 18.8 umol/L; Direct Bilirubin normal range= 0-6.8 umol/L; IgG normal range= 767 – 1590 mg/dL; PT/INR ration normal range= 0.9-1.1. ITT Population (N=24) includes all randomized patients. 11


 
Prior to Screening, Historic ALT Levels and Daily Steroid Use Were Higher in Patients Assigned to Zetomipzomib Arm †Mean Historical ALT ≤3 months prior to Screening. | *Two patients in the placebo arm did not have available prescreening values. ^Placebo patient randomized but not dosed, and did not have available prescreening values. | ALT ULN: 33 (F), 40 (M) U/L.. Abbreviations: ALT, alanine aminotransferase. Placebo* (n=8) Zetomipzomib (n=16) 0 200 400 600 Historical ALT Values† AL T (U /L ) 70.0 133.5 Placebo^ (n=8) Zetomipzomib (n=16) 0 10 20 30 40 50 Corticosteroid Use at Screening Pr ed ni so ne (o r e qu iv .) do se m g/ d Starting Dose Range ULN Complete Biochemical Remission • All patients entering screening at <20 mg/d were escalated by Day 1 to 20 – 40 mg/d • Patients assigned to zetomipzomib arm may have represented a more refractory patient population vs. placebo • Predefined subset analysis of patients entering study on daily steroid dose (21 of 24 total patients) 12


 
AASLD and EASL Guidelines Target Treatment Goals Placebo (3/8) Zetomipzomib (8/16) 0 20 40 60 Complete Response (CR) Pr op or tio n of P at ie nt s (% ) 37.5% 50% Placebo (1/8) Zetomipzomib (5/16) 0 10 20 30 40 50 CR with Steroid Taper to ≤5 mg/d Pr op or tio n of P at ie nt s (% ) 31.3% 12.5% Placebo (0/8) Zetomipzomib (3/16) 0 10 20 30 40 50 CR with Steroid Taper to 0 mg/d Pr op or tio n of P at ie nt s (% ) 37.5% 18.8% 0% 13 Zetomipzomib Treatment Results in Higher Rates of Complete Biochemical Remission with Steroid Taper vs. Placebo ITT Population (N=24) includes all randomized patients. Complete Response: Normal ALT, AST, and IgG values (if IgG level is elevated at Baseline) with glucocorticoid dose not higher than Baseline dose. ALT normal range female= 10-33 U/L; ALT normal range male= 10-40 U/L; AST normal range female= 10–36 U/L; AST normal range male= 10-43 U/L; IgG normal range= 767 – 1590 mg/dL. *Subject subsequently had steroid raised back to 5 mg/d per FDA requirement • Median duration of response of 8 zetomipzomib-treated patients achieving CR is 27.6 weeks (OLE ongoing) • 1 Placebo patient achieved a CR with steroid to 5 mg/d upon enrolling to OLE • 2 Placebo patients entering the OLE in CR achieved a 50% reduction in daily steroid dose* • No disease flares in any patient achieving CR on zetomipzomib during study, including OLE Primary and Secondary Efficacy Endpoints in ITT Population


 
• 21 of 24 patients entered screening on daily steroid therapy • Median steroid dose was 10 mg in the placebo arm vs. 20 mg in the zetomipzomib arm at screening Zetomipzomib Treatment Results in Steroid Sparing Biochemical Remissions in Patients Entering PORTOLA on Daily Steroid Dose ITT Population (N=24) includes all randomized patients. Complete Response: Normal ALT, AST, and IgG values (if IgG level is elevated at Baseline) with glucocorticoid dose not higher than starting dose (at Baseline). ALT normal range female= 10-33 U/L; ALT normal range male= 10-40 U/L; AST normal range female= 10–36 U/L; AST normal range male= 10-43 U/L; IgG normal range= 767 – 1590 mg/dL. Abbreviations: CR, complete response. Placebo (2/7) Zetomipzomib (8/14) 0 20 40 60 Complete Response (CR) Pr op or tio n of P at ie nt s (% ) 28.6% 57.1% Placebo (0/7) Zetomipzomib (5/14) 0 10 20 30 40 50 CR with Steroid Taper to ≤5 mg/d Pr op or tio n of P at ie nt s (% ) 35.7% 0% Placebo (0/7) Zetomipzomib (3/14) 0 10 20 30 40 50 CR with Steroid Taper to 0 mg/d Pr op or tio n of P at ie nt s (% ) 37.5% 14.3% 21.4% 0% 14 AASLD and EASL Guidelines Target Treatment Goals Primary and Secondary Efficacy Endpoints in ITT Population, Prespecified Subset Analysis (N=21)


 
Exploratory Endpoints *3 patients shown (2 patients had identical pre- and post-treatment mHAI scores) Biochemical Remission Correlates with Histologic Improvements 0 24 0 5 10 15 Complete Response (CR) Week Is ha k Sc or e 2 pts overlap 0 24 0 5 10 15 Treatment Failure/ No Response (NR) Week Is ha k Sc or e 2 pts overlap Ze to m ip zo m ib 0 24 0 5 10 15 Complete Response* (CR) Week Is ha k Sc or e 2 pts overlap 0 24 0 5 10 15 Treatment Failure/ No Response (NR) Week Is ha k Sc or e Pl ac eb o Histology (mHAI) 0 24 0 10 20 30 Complete Response (CR) Week LS M S co re ( kP A) 0 24 0 10 20 30 40 60 80 Treatment Failure/ No Response (NR) Week LS M S co re (k PA ) 0 24 0 5 10 15 20 25 Complete Response (CR) Week LS M S co re (k PA ) 0 24 0 10 20 30 Treatment Failure/ No Response (NR) Week LS M S co re (k PA ) Elastography (Fibroscan) Minimum score for study entry = 5 | Remission score = 3 15


 
PORTOLA Safety: Favorable Safety and Tolerability Profile with Zetomipzomib Treatment (Safety Population) Adverse Events in Double Blind Treatment Period Placebo N=7 n (%) Zetomipzomib N=16 n (%) Participants with at least 1 Treatment Emergent Adverse Event (TEAE) 7 (100.0) 16 (100.0) Most common TEAE: Injection Site Reaction (ISR) Systemic Injection Reaction (SIR) 4 (57.1) 1 (14.3) 15 (93.8) 12 (75.0) TEAE leading to study drug discontinuation 0 (0) 3* (18.8) Grade 3 TEAE (no Grade 4 or 5 TEAEs reported) 1 (14.3) 3 (18.8) Serious TEAE 1† (14.3) 2‡ (12.5) Infectious TEAE 6 (85.7) 9 (56.3) Grade ≥3 Infectious TEAE 0 (0) 1 (6.3) Opportunistic Infections¶ 0 (0) 0 (0) Death 0 (0) 0 (0) Safety Population (N=23) includes all patients who received ≥1 dose of study treatment. *Grade 2 unrelated AIH flare (treatment failure per protocol), Grade 2 related hives, and Grade 1 related fatigue. †Grade 3 unrelated variceal bleeding x2, with hematemesis and atrial fibrillation. ‡Grade 3 unrelated fever (post-liver biopsy) and unrelated Grade 3 Influenza B infection. ¶Opportunistic infections were evaluated by sponsor through clinical assessment of reported infections. Specific AEs occurring within 8 to 24 hours post-dose, usually resolving within 48 hours post-dose, and consist of ≥1 of the following signs/symptoms: hypotension, tachycardia, nausea, vomiting, dizziness, headache, pyrexia, rigors, and/or chills 16  100% of SIR-related AEs were Grade 1 or Grade 2 100% of ISR-related AEs were Grade 1 or Grade 2


 
Trial/Treatment arm/ Dose (N) MISSION Ph 2 Zeto 60 mg N=21 PALIZADE Placebo N=28 PALIZADE Zeto 60 mg N=29 Indication Lupus Nephritis Treatment Period (Weeks) 24 52† At least one TEAE, n (%) 21 (100.0) 17 (60.7) 25 (86.2) Serious TEAEs, n (%) 2 (9.5) 3 (10.7) 8 (27.6) Grade 3 or 4 TEAEs, n (%) 6 (28.6) 3 (10.7) 8^ (27.6) TEAEs leading to study drug discontinuation, n (%) 4 (19.0) 1 (3.6) 4 (13.8) Infectious TEAEs, n (%) 9 (42.9) 13 (46.4) 11 (37.9) Grade ≥3 infectious TEAEs, n (%) 0 (0) 0 (0) 3 (10.3) Opportunistic infections, n (%) 0 (0) 0 (0) 0 (0) Death, n (%) 0 (0) 1 (3.6) 1 (3.4)¶ PRESIDIO Placebo N=22 PRESIDIO Zeto 45 mg N=25 Polymyositis & Dermatomyositis 16 16 (72.7) 22 (88.0) 1 (4.5) 2 (8.0) 2 (9.1) 2 (8.0) 0 (0) 1 (4.0) 6 (27.3) 7 (28.0) 1 (4.5) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Safety of Zetomipzomib is Consistent Across Multiple Clinical Trials in Autoimmunity *One patient in the placebo arm was not dosed and is not included in these data. †No participants completed 52 weeks. ^Four participants with serious TEAE were randomized to zetomipzomib 60 mg arm but received zetomipzomib 30 mg before SAE (2 were on the first dose). ¶Patient was randomized to the zetomipzomib 60 mg but only received an initial dose of zetomipzomib 30 mg. PORTOLA Placebo N=7* PORTOLA Zeto 60 mg N=16 Autoimmune Hepatitis 24 7 (100.0) 16 (100.0) 1 (14.3) 2 (12.5) 1 (14.3) 3 (18.8) 0 (0) 3 (18.8) 6 (85.7) 9 (56.3) 0 (0) 1 (6.3) 0 0 0 (0) 0 (0) 17


 
Zetomipzomib is a potentially transformative steroid-sparing agent for patients struggling with AIH • 36% of zetomipzomib-treated patients (5/14) that were on steroid-based therapy at the time of screening achieved steroid-sparing biochemical remission by Week 24 vs. 0% of patients in placebo arm (0/7) • No disease flares in zetomipzomib-treated patients achieving CR across main study and OLE • Majority of TEAEs were Grades 1 and 2 and no increased risk for infection or signs of DILI with zetomipzomib treatment • Biochemical remission correlated with histologic improvement at 6 months Data generated across AIH and lupus nephritis (LN) programs strongly suggest that zetomipzomib is a novel and potentially effective therapy for AIH and other complex autoimmune disorders • High rates of steroid-sparing and steroid-free biochemical remissions in tough to treat AIH patients • High complete renal response rates (CRR) in 2 LN studies across 100+ patients with rapid time to onset and improvements in non-renal SLE manifestations • Minimal risk of immunosuppression and most related AEs are Grades 1 and 2 and are transient and self- limiting AIH is a serious medical condition affecting ~100,000 people in the US alone with limited treatment options and few novel agents in development Summary of Zetomipzomib Program in AIH 18


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE PORTOLA Experience Craig S. Lammert, MD Assistant Professor of Medicine, Indiana University School of Medicine Executive Director of the Autoimmune Hepatitis Association Principal Investigator of the PORTOLA Clinical Trial


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE Investigator Perspective: PORTOLA Experience • Autoimmune Hepatitis: Immunologic chess • Why PORTOLA matters: Limited novel therapeutic options for relapsed/refractory AIH patients and are often steroid-dependent; no new advances beyond steroids and immunosuppressants; few agents in development; • PORTOLA experience: Indiana University enrolled 4 patients in PORTOLA − 2 patients completed double blind treatment period (DBTP) and open-label extension (OLE) − 1 patient (AIH Type 2 randomized) completed DBTP and entered OLE but discontinued due to related Grade 1 adverse event (AE) of shortness of breath (patient had history of asthma since 2022) − 1 patient discontinued in DBTP due to related Grade 2 AE of hives at W13


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE PORTOLA Case: Patient with Complete Response (Zetomipzomib) Medical History and Baseline Characteristics • 66 y/o white male, AIH since 2022 (7.7 months), ANA+ • Mean ALT, IgG prior to screen: 242 U/L, 978 mg/dL • Prior meds: MMF (1500 mg PO BID) + Prednisone: multiple dose changes with steroid dose at 20 mg/d before PORTOLA • Prior AIH history: Patient had not achieved complete response (CR) with steroid taper despite escalation of SOC and moderate dose corticosteroids • Baseline concomitant medications: MMF + Prednisone • Baseline Ishak score: 5 • Baseline Liver Stiffness score: 24.7


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE Patient Case: Patient with CR (Zetomipzomib) Patient Achieved CR with Steroid Taper to 0 mg/d and Maintained 0 mg/d During OLE -4 0 4 8 12 16 20 24 0 50 100 150 200 250 0 10 20 30 500 1000 1500 2000 28 32 36 40 44 48 52 56 60 Week A ST /A LT ( U /L ) G C D os e (m gs ) Complete Response with Steroid Taper to 0 mg/d Baseline ALT IgGAST GC Dose (mg) Ig G m g/ dL Steroid 0 mg/d (W24) Normal ALT OLE OLE dose Steroid 5 mg/d (W16) 0 24 0 5 10 15 mHAI Score Week Is ha k Sc or e Dotted lines are upper limit of normal (ULN): ALT ULN=40 U/L; AST ULN=43 U/L; IgG ULN=1590 mg/dL. • Tapered off steroid during the main study and achieved CR with steroid taper • Ishak score, change from baseline: 1 (20%); Liver Stiffness score, change from baseline: -11.1 (-45%) • Entered OLE 3 weeks after completing DBTP; experienced transient fluctuation in the ALT and AST for one week and returned and maintained within normal range while steroid dose remained at 0 mg/d


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE Patient Achieved CR with Steroid Taper to 0 mg/d and Maintained 0 mg/d During OLE • Achieved a CR during DBTP and was able to taper steroids to 0 mg/d at W24 • Maintained CR with no flares and remained off steroid throughout OLE treatment period • Experienced Grade 1 related ISRs and SIRs • Post-PORTOLA: Patient did not experience a rebound in ALT values following end of study – 6 months follow up.


 
INDIANA UNIVERSITY SCHOOL OF MEDICINE Investigator Perspective: Zetomipzomib Has Potential to Transform AIH Landscape Clinical observations: • Quick, durable response with no flares on PORTOLA with ability to taper off steroid completely with zetomipzomib treatment highlights the potential for zetomipzomib as a steroid sparing treatment in AIH • Patient did not experience a rebound in their transaminases following end of PORTOLA with 6 months of follow up, suggesting that extended treatment with zetomipzomib could have disease modifying impact in AIH • Lack of change in mHAI Ishak score could be obscured by possible variability in biopsy • Following liver enzyme values are a priority for management of AIH as CR is associated with better long-term survival and outcomes: Clinically meaningful response to patients and hepatologists • Zetomipzomib appears to be tolerable with no major safety signals observed in PORTOLA Impact of topline data: • Aligned with patient interests seeking an intermittent dosing, non oral, steroid sparing AIH medication


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme AUTOIMMUNE HEPATITIS: WE CAN AND SHOULD DO BETTER Gideon Hirschfield, PhD, MB BChir, FRCP Lily and Terry Horner Chair in Autoimmune Liver Disease Research Director, Francis Family Liver Clinic, Toronto General Hospital


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme 26 Our Expertise and Experience Rare but not infrequent Middle age/Female predominant/Lifelong High burden of cirrhosis High burden of corticosteroid use Low use of ‘advanced’ therapies Au to im m un e He pa tit is Take homes:


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme Autoimmune Hepatitis (AIH): A Significant Unmet Need • AIH is a chronic autoimmune disease with unresolving inflammation of the liver of unknown cause • Complex interplay of genetic predisposition and environmental triggers is believed to initiate autoimmune cascade • Dysregulation of T cell function (Treg cells) play crucial role in pathogenesis of AIH with cytokines/chemokines contributing to inflammatory process and liver damage • Plasma cells are a frequent and relatively specific feature of AIH, and develop from activated B cells with help from CD4+ T cells • Significant morbidity and mortality associated with disease progression and complications • Current SOC (corticosteroids and immunosuppressants) are associated with significant side effects 27


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme Fig. 2 Trivedi P et al. 2019 28


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme AIH: Real World Challenges • Limited options with standard of care - lack of choice • Adverse effects of corticosteroids and immunosuppressant individually and together • Tolerability • Weight, diabetes, osteoporosis, cosmetic, symptoms • Malignancy • Relapse rates upon treatment withdrawal • Risk of disease progression: • Cirrhosis, liver failure, portal hypertension, and increased risk of HCC 29


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme AIH: Current Unmet Needs • Inadequate therapy choices • Bad disease, ineffective drug, or intolerable treatment • Need for therapies that reliably induce durable remission with safety and tolerability that are on-label • Lack of corticosteroid-sparing agents • Lack of agents that have disease modifying potential • Stark contrast to IBD, RA, SLE in terms of therapy choices • Limited agents in development 30


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme Need for Novel Targeted Therapies: Zetomipzomib Has Opportunity to Add Value • Broad immunomodulatory activity targeting AIH pathophysiology – relevant niche/alignment of opportunities to enter AIH • B-cells/T-cells • Lack of non-specific immunosuppression • Corticosteroid-sparing potential • Disease modifying potential • First proof-of-concept study in AIH demonstrates clear efficacy signals in the hard-to-treat refractory/relapsed patient population • Translation of corticosteroid-sparing and durable response in refractory population to potential first-line therapy? 31


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme Thank you Gideon Hirschfield


 
Presented by Gideon Hirschfield, Autoimmune and Rare Liver Disease Programme NEXT STEPS & CLOSING REMARKS Christopher J, Kirk, PhD Chief Executive Officer, Co-Founder


 
Next Steps for Zetomipzomib Program in AIH Pending removal of partial clinical hold, Kezar looks forward to aligning with the FDA and EMA on a potential registrational study in AIH Kezar will respond to all FDA Division of Hepatology partial clinical hold comments as quickly as possible Biochemical remission with steroid taper and histologic improvement are likely to be key components of a pivotal study in this disease 34 Presentation of PORTOLA results at a major medical conference is planned for second half 2025 Results from PORTOLA study strongly support registrational development plan for zetomipzomib in AIH patients


 
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