# The FDA cancelled one meeting. A $50 million company died. The drug still worked.

- slug: the-fda-cancelled-one-meeting-a-50-million-company-died-the-drug-still-worked
- date: 2026-04-06
- category: Biotech & Life Sciences

Kezar Life Sciences had a drug that worked in autoimmune hepatitis. The FDA agreed to accelerate it. The company still closed. Here is what that sequence of events reveals about regulatory risk in small biotech.

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