Kezar Life Sciences Inc (NASDAQ: KZR) shares are surging Tuesday after the company announced topline results from the MISSION Phase 2 clinical trial evaluating zetomipzomib.
Zetomipzomib is a novel, first-in-class, selective immunoproteasome inhibitor with broad therapeutic potential across multiple autoimmune diseases.
"The MISSION Phase 2 topline results show a clinically meaningful overall renal response to zetomipzomib after 6 months, without high-dose induction therapy. Patients in the trial also experienced reductions in extra-renal manifestations of lupus," said Noreen Henig, chief medical officer of Kezar.
Following the announcement, Wells Fargo (NYSE:WFC) analyst Derek Archila maintained Kezar with an Overweight rating and raised the price target from $13 to $17.
Kezar is a clinical-stage biopharmaceutical company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders.
KZR Price Action: Kezar has traded between $18.55 and $4.30 over a 52-week period.
The stock was up 84.8% at $10.67 at press time, according to data from Benzinga Pro.
Photo: PublicDomainPictures from Pixabay.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga