Kezar Life Sciences (KZR) Stock Price: Lots of optimism surrounds lupus trial results
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UPGRADE- Kezar Life Sciences reported successful trial for lupus drug.
- KZR stock has spiked more than 90% on Tuesday to trade as high as $11.02.
- KZR share price has found support around $10.14, up 75%.
Kezar Life Sciences (KZR) announced a breakthrough late Monday that today concerning a drug to treat lupus nephritis. Results from the second phase clinical trial evaluating zetomipzomib showed "positive, topline results." Shares of the biotech stock opened up 90% higher at $11.02 but then dropped down nearer $10, still up 75% in the first hour.
Also read: Amazon Stock Deep Dive: AMZN price target at $106 with near-term risks offset by long-term growth
"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. Zetomipzomib appears to be immunomodulatory, well-tolerated and steroid-sparing – all important attributes for patients with autoimmune disease who are often young and active," said Noreen R. Henig, M.D., Kezar’s Chief Medical Officer. "Based on the strength of these results, we plan to continue developing zetomipzomib for patients with lupus nephritis, as well as evaluate development opportunities for systemic lupus erythematosus."
The two major achievements pointed to in the study were:
- "11 of 17 patients (64.7%) achieved an overall renal response of 50% or greater reduction in urine protein to creatinine ratio (UPCR) at 6 months"
- "6 of 17 patients (35.2%) achieved a complete renal response, including a UPCR of 0.5 or less at 6 months"
This is quite impressive since the drug had few significant side effects. Lupus affects about 1.5 million people in the US and about 5 million globally, according to the Lupus Foundation of America. About 90% of cases are found in women. When Lupus attacks the kidneys, it is called lupus nephritis.
Kezar Life Sciences stock forecast
Right away the chart tells us KZR stock is in an uptrend. The 9-day moving average has advanced above the 21-day and not just because of Tuesday's massive spike. It seems that a slow, drawn out uptrend began with the range low on June 13. The Moving Average Convergence Divergence (MACD) has been trending in the right direction with the MACD line leading the signal line.
KZR share price now needs to close the gap created on May 4. To do so, it needs to crawl up to $11.65, the low from May 2. Watch how KZR trends and where it finds a base of support on Tuesday and Wednesday. it may take a week before another rally is sustained. Support is at $6.
KZR 1-day chart
Like this article? Help us with some feedback by answering this survey:
- Kezar Life Sciences reported successful trial for lupus drug.
- KZR stock has spiked more than 90% on Tuesday to trade as high as $11.02.
- KZR share price has found support around $10.14, up 75%.
Kezar Life Sciences (KZR) announced a breakthrough late Monday that today concerning a drug to treat lupus nephritis. Results from the second phase clinical trial evaluating zetomipzomib showed "positive, topline results." Shares of the biotech stock opened up 90% higher at $11.02 but then dropped down nearer $10, still up 75% in the first hour.
Also read: Amazon Stock Deep Dive: AMZN price target at $106 with near-term risks offset by long-term growth
"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. Zetomipzomib appears to be immunomodulatory, well-tolerated and steroid-sparing – all important attributes for patients with autoimmune disease who are often young and active," said Noreen R. Henig, M.D., Kezar’s Chief Medical Officer. "Based on the strength of these results, we plan to continue developing zetomipzomib for patients with lupus nephritis, as well as evaluate development opportunities for systemic lupus erythematosus."
The two major achievements pointed to in the study were:
- "11 of 17 patients (64.7%) achieved an overall renal response of 50% or greater reduction in urine protein to creatinine ratio (UPCR) at 6 months"
- "6 of 17 patients (35.2%) achieved a complete renal response, including a UPCR of 0.5 or less at 6 months"
This is quite impressive since the drug had few significant side effects. Lupus affects about 1.5 million people in the US and about 5 million globally, according to the Lupus Foundation of America. About 90% of cases are found in women. When Lupus attacks the kidneys, it is called lupus nephritis.
Kezar Life Sciences stock forecast
Right away the chart tells us KZR stock is in an uptrend. The 9-day moving average has advanced above the 21-day and not just because of Tuesday's massive spike. It seems that a slow, drawn out uptrend began with the range low on June 13. The Moving Average Convergence Divergence (MACD) has been trending in the right direction with the MACD line leading the signal line.
KZR share price now needs to close the gap created on May 4. To do so, it needs to crawl up to $11.65, the low from May 2. Watch how KZR trends and where it finds a base of support on Tuesday and Wednesday. it may take a week before another rally is sustained. Support is at $6.
KZR 1-day chart
Like this article? Help us with some feedback by answering this survey:
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