Kezar Life Sciences Receives $1.10/Share Proposal from Concentra Biosciences, Shares Up 4.7%

Oct 10, 2024, 12:34 PM

Kezar Life Sciences (KZR) has received an unsolicited, non-binding acquisition proposal from Concentra Biosciences. The offer includes a cash payment of $1.10 per share and a contingent value right (CVR). This proposal follows Tang Capital Management's disclosure of a 9.9% stake in Kezar as of October 1, 2024, indicating strong investment confidence in the company’s pipeline of therapies for immune-mediated and oncologic disorders. Tang Capital is the controlling stockholder of Concentra Biosciences. Kezar's shares have risen by 4.7% in premarket trading following the news.