Financial Statements — KZR
Balance Sheet
(in millions USD)| Metric | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 66.23 | 38.94 | 34.37 | 37.00 | 34.86 | 28.28 | 33.03 | 26.50 | 28.11 | 36.13 | 64.45 | 105.39 | 38.91 | 57.09 | 26.38 | 22.91 |
| Short-term Investments | -- | 51.28 | 66.48 | 77.36 | 113.53 | 135.91 | 146.77 | 191.71 | 208.48 | 221.54 | 225.93 | 201.45 | 203.70 | 63.67 | 102.59 | 119.40 |
| Accounts Receivable | -- | -- | -- | -- | -- | -- | -- | 7.00 | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 67.56 | 94.50 | 104.70 | 120.32 | 156.38 | 167.62 | 185.61 | 230.52 | 243.50 | 265.23 | 298.93 | 311.33 | 246.00 | 124.75 | 133.35 | 145.68 |
| Property, Plant & Equipment | 0.00 | 2.17 | 2.41 | 2.65 | 3.15 | 3.39 | 3.65 | 4.40 | 4.67 | 4.66 | 3.37 | 3.52 | 3.04 | 2.98 | 3.02 | 3.20 |
| Total Non-current Assets* | 0.44 | 3.23 | 4.42 | 4.94 | 7.71 | 12.30 | 13.52 | 18.81 | 19.88 | 18.95 | 5.84 | 6.17 | 5.87 | 6.14 | 6.33 | 6.66 |
| Total Assets | 68.00 | 97.73 | 109.12 | 125.26 | 164.09 | 179.92 | 199.13 | 249.33 | 263.38 | 284.18 | 304.77 | 317.50 | 251.87 | 130.89 | 139.67 | 152.34 |
| Accounts Payable | 0.27 | 0.91 | 1.16 | 1.97 | 3.46 | 2.26 | 5.06 | 3.12 | 2.49 | 4.14 | 2.27 | 1.92 | 1.36 | 1.54 | 1.63 | 3.58 |
| Short-term Debt | -- | 5.28 | 5.29 | 5.22 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 2.76 | 13.38 | 14.37 | 16.96 | 20.43 | 17.50 | 16.16 | 16.67 | 13.74 | 13.64 | 9.60 | 7.85 | 6.98 | 7.87 | 5.94 | 7.56 |
| Long-term Debt | -- | 1.37 | 2.63 | 3.87 | 10.26 | 10.20 | 10.13 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | -- | -- | -- |
| Total Non-current Liabilities* | 0.00 | 1.37 | 2.97 | 5.23 | 9.61 | 11.74 | 13.85 | 16.66 | 17.36 | 18.05 | 11.99 | 12.29 | 12.57 | 3.54 | 3.84 | 4.14 |
| Total Liabilities | 2.76 | 14.75 | 17.34 | 22.19 | 30.04 | 29.24 | 30.01 | 33.33 | 31.10 | 31.69 | 21.58 | 20.14 | 19.55 | 11.41 | 9.79 | 11.70 |
| Retained Earnings | (496.29) | (475.99) | (464.76) | (451.05) | (414.28) | (393.97) | (372.42) | (318.50) | (295.40) | (271.09) | (230.71) | (212.86) | (196.68) | (166.44) | (151.98) | (139.02) |
| Total Stockholder Equity | 65.24 | 82.98 | 91.79 | 103.07 | 134.05 | 150.69 | 169.12 | 215.99 | 232.28 | 252.49 | 283.19 | 297.36 | 232.32 | 119.48 | 129.89 | 140.64 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | -- | -- | -- | -- | -- | 0.00 | 0.00 | -- | -- | 0.00 | 7.00 | -- | -- | 0.00 | 0.00 | -- | -- | -- | -- | -- |
| Research & Development | 1.55 | 5.08 | 6.91 | 9.58 | 12.18 | 16.03 | 16.24 | 16.30 | 17.17 | 22.64 | 23.74 | 21.00 | 18.32 | 14.86 | 13.86 | 11.35 | 10.94 | 9.78 | 10.53 | 9.34 |
| Selling, General & Admin | 5.21 | 3.25 | 4.80 | 5.02 | 5.45 | 5.55 | 5.71 | 5.60 | 6.54 | 5.76 | 8.79 | 5.79 | 6.21 | 5.18 | 5.07 | 4.98 | 4.93 | 4.32 | 3.97 | 3.67 |
| Total Operating Expenses | 7.37 | 15.16 | 11.72 | 14.60 | 17.63 | 21.56 | 21.95 | 23.38 | 23.71 | 34.59 | 32.53 | 26.78 | 24.52 | 20.03 | 18.93 | 16.32 | 15.88 | 14.10 | 14.50 | 13.01 |
| Operating Income | (7.36) | (15.16) | (11.71) | (14.60) | (17.63) | (21.56) | (21.95) | (23.38) | (23.71) | (34.59) | (25.53) | (26.78) | (24.52) | (20.03) | (18.93) | (16.32) | (15.88) | (14.10) | (14.50) | (13.01) |
| Interest Expense | -- | -- | -- | -- | -- | -- | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.39 | 0.37 | 0.35 | 0.31 | 0.27 | 0.25 | -- | -- | -- |
| Pretax Income* | (5.76) | (14.55) | (11.23) | (13.70) | (16.56) | (20.22) | (20.31) | (21.55) | (21.66) | (32.26) | (23.10) | (24.31) | (22.20) | (18.18) | (17.85) | (16.19) | (16.02) | (14.21) | (14.46) | (12.96) |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (5.76) | (14.55) | (11.23) | (13.70) | (16.56) | (20.22) | (20.31) | (21.55) | (21.66) | (32.26) | (23.10) | (24.31) | (22.20) | (18.18) | (17.85) | (16.19) | (16.02) | (14.21) | (14.46) | (12.96) |
| Basic EPS | (0.78) | (1.99) | (1.53) | (1.87) | (2.27) | (8.11) | (2.78) | (0.30) | (0.30) | (0.43) | (0.32) | (0.34) | (0.31) | (0.25) | (0.25) | (0.25) | -- | -- | -- | -- |
| Diluted EPS | (0.78) | (1.99) | (1.53) | (1.87) | (2.27) | (8.11) | (2.78) | (0.30) | (0.30) | (0.43) | (0.32) | (0.34) | (0.31) | (0.25) | (0.25) | (0.25) | -- | -- | -- | -- |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (7.44) | (11.96) | (9.83) | (12.79) | (17.19) | (16.82) | (17.49) | (17.03) | (22.86) | (18.98) | (20.20) | (21.60) | (20.86) | (15.88) | (16.36) | (13.29) | (13.31) | (11.08) | (9.95) | (13.04) |
| Capital Expenditures | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 | 0.14 | 1.38 | 0.30 | 0.34 | 0.60 | 0.18 | 0.45 | 0.27 | 0.03 | 0.02 |
| Free Cash Flow* | (7.44) | (11.96) | (9.83) | (12.79) | (17.20) | (16.84) | (17.51) | (17.03) | (22.86) | (18.98) | (20.34) | (22.98) | (21.16) | (16.23) | (16.96) | (13.47) | (13.76) | (11.35) | (9.98) | (13.07) |
| Investing Cash Flow | 1.53 | 51.61 | 15.71 | 11.40 | 13.74 | 23.74 | 24.06 | 12.22 | 20.41 | 27.88 | 18.57 | 13.20 | 16.39 | (8.66) | (24.71) | 1.51 | (59.53) | (82.49) | 38.48 | 16.25 |
| Financing Cash Flow | 0.27 | (6.71) | (1.30) | (1.27) | (1.30) | 0.05 | 0.00 | 0.06 | 0.00 | 0.06 | 0.04 | 0.38 | 0.15 | 0.51 | 0.19 | 78.32 | 48.85 | 99.36 | 2.21 | 0.28 |
* Derived from reported values