A STAT+ report described how Kezar Life Sciences closed its doors after an FDA meeting on trial design was canceled months after the company had reached an agreement—leaving no clear path forward. The company’s shutdown followed investor withdrawal and ultimately an auction of lab equipment, with the drug later expected to move to Aurinia Pharmaceuticals. Separately, Hims & Hers disclosed a social engineering incident impacting a third-party customer service platform. The company said unauthorized access was limited to customer service software, with no access to electronic medical records or communications with healthcare providers. The paired stories underline how operational, regulatory, and third-party risk can affect biotech and digital health companies differently—but with direct consequences for patients, trial continuity, and data governance.