Kezar Life Sciences shares surge 17.66% intraday after signing a definitive merger agreement with Aurinia Pharmaceuticals on March 30, 2026, offering $6.955 cash per share plus a non-transferable CVR.

Kezar Life Sciences surged 17.66% intraday, following the announcement of a definitive merger agreement with Aurinia Pharmaceuticals on March 30, 2026. The deal values Kezar at $6.955 per share in cash plus a non-transferable but valuable CVR, which entitles shareholders to potential payments tied to zetomipzomib clinical development, Everest collaboration, Enodia transaction, and Kezar's net cash exceeding $50 million.