Kezar Life Sciences Inc KZR:NASDAQ

Last Price$10.13NASDAQ Closing Price as of 4:00PM ET 8/19/22

Today's Change+0.18(1.81%)
Bid (Size)$10.11 (49)
Ask (Size)$10.60 (2)
Day Low / High$9.79 - 10.15
Volume459.5 K

Sector Update: Health Care Stocks Decline Tuesday but Largely Outperform Most Other Sectors

4:00PM ET 6/28/2022 MT Newswires
Health care stocks still were mostly lower this afternoon, with the NYSE Health Care Index and the SPDR Health Care Select Sector ETF (XLV) both falling 1.6%.

The Nasdaq Biotechnology index also was sinking 2.0%, trimming a portion of its earlier slide.

In company news, Sutro Biopharma (STRO) climbed more than 20% after saying it would collaborate with Japanese drug maker Astellas Pharma on immunostimulatory antibody-drug conjugates for cancers that currently have no effective therapy. Under terms of the new partnership, Sutro will receive a $90 million upfront payment and is eligible to receive up to $422.5 million in milestone payments as the conjugates reach selected regulatory and commercial milestones.

Kezar Life Sciences (KZR) soared nearly 44% after late Monday reporting positive topline results from phase II testing of its zetomipzomib drug candidate, with six of 17 patients with active lupus nephritis achieving a complete renal response and the other 11 patients showing at least a 50% reduction in the protein-to-creatinine ratio in their urine after six months.

Roivant Sciences (ROIV) firmed 0.4% Tuesday after the UK-based drug maker announced the launch of Priovant, a new biopharmaceuticals company formed with 25% partner Pfizer (PFE) to develop new therapies for autoimmune diseases. Roivant also reported a Q4 net loss of $0.39 per share, more than halving its $0.80 per share loss during the year-ago period but missing the Capital IQ consensus expecting a $0.30 per share loss.

Evofem Biosciences (EVFM) was hanging on for a 0.5% gain, shedding most of a more than 40% gain that followed the company announcing an agreement with one of the largest pharmacy benefit managers in the US ensuring most women covered by the plan can fill their Phexxi prescriptions for pregnancy prevention without restrictions such as prior authorization or step therapy.