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Kezar Life Sciences sets IPO share count, price range

Kezar Life Sciences Inc. is looking to sell 4,666,667 common shares at a price of between $14 and $16 per share in its IPO.

The company granted underwriters an option to buy up to an additional 700,000 common shares in the offering.

Kezar has applied to list its shares on the Nasdaq Global Market under the KZR symbol.

The South San Francisco, Calif.-based company will use the net proceeds to further develop its lead product candidate KZR-616 to treat lupus and lupus nephritis, as well as idiopathic inflammatory myopathies and up to three additional autoimmune indications.

A portion of the proceeds is also allocated for the discovery and preclinical development of Kezar's protein secretion program and other research and development activities, working capital and general corporate purposes.

Jefferies LLC, Cowen and Co. LLC, Wells Fargo Securities LLC, and William Blair & Co LLC are acting as underwriters in the IPO.

Kezar Life Sciences is a clinical-stage biotechnology company that develops small molecule therapeutics for treating autoimmunity and cancer.