Kezar gains on Aurinia buyout deal

Shares of biotech firm Kezar Life Sciences KZR.O rise 16.94% to $7.25

Aurinia Pharmaceuticals AUPH.O says it will buy KZR for $6.955 in cash per share and a contingent value right

Based on Reuters' calculations, the cash part of the deal is valued at about $51 million

The contingent value right could give KZR shareholders extra payments later, depending on the progress or sale of Kezar's lead drug, zetomipzomib, as well as certain other assets

AUPH says zetomipzomib is being developed for autoimmune hepatitis, lupus nephritis and systemic lupus erythematosus

Says deal is expected to close in Q2 2026

KZR shares fell more than 6% in 2025