ZBIO
Zenas BioPharma, Inc.36.89
+4.30+13.2%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.98BP/E (TTM)
2.70Basic EPS (TTM)
13.67Dividend Yield
0%Recent Filings
8-K
Obexelimab hits Phase 3 endpoints
Zenas BioPharma announced positive Phase 3 INDIGO trial results for obexelimab in IgG4-RD on January 5, 2026. Obexelimab slashed flare risk by 56% (HR 0.443, p=0.0005) versus placebo in 194 patients over 52 weeks, hitting all key secondary endpoints with lower serious adverse events. Cash stood at $360.5M as of December 31, 2025, funding operations through 2026. BLA filing targets Q2 2026.
8-K
Approves 1M-share inducement plan
Zenas BioPharma's board approved the 2026 Inducement Plan on December 10, 2025, authorizing 1,000,000 common shares for non-statutory stock options, RSUs, and other awards. Aimed at new hires or rehires after employment gaps, it sidesteps shareholder approval under Nasdaq Rule 5635(c)(4). Bolsters talent acquisition. No grants disclosed yet.
8-K
Q3 loss widens; pipeline grows
Zenas BioPharma reported Q3 2025 net loss of $51.5M, up from $38.6M last year, with cash at $301.6M funding operations into Q4 2026. Pipeline expanded via InnoCare license for orelabrutinib in MS—Phase 3 PPMS launched, SPMS next—and Royalty Pharma deal for up to $300M obexelimab funding, $75M upfront. Obexelimab's MoonStone trial hit 95% lesion reduction. INDIGO Phase 3 data due year-end.
10-Q
Q3 FY2025 results
Zenas BioPharma posted Q3 operating loss of $52.6M, up 28% y/y from $41.0M (derived), driven by $5.0M acquired IPR&D and ramped G&A, while R&D edged up 3% to $34.4M on personnel costs despite obexelimab efficiencies. YTD net loss widened to $137.3M from $104.4M, with $10.0M license revenue offsetting $112.3M R&D (up 25% y/y, derived). Cash burned $120M operationally YTD, offset by $75M Royalty Pharma funding; quarter-end liquidity stood at $301.6M (cash/investments), funding into Q4 2026. Royalty obligation of $73.0M emerged from obexelimab revenue share deal. Clinical-stage biotech cash runway shortens.
8-K
Obexelimab hits 95% lesion reduction
Zenas BioPharma announced positive Phase 2 MoonStone trial results for obexelimab in relapsing multiple sclerosis on October 27, 2025. Obexelimab crushed the primary endpoint, slashing new GdE T1 lesions by 95% versus placebo (0.01 vs 0.23 per scan, p=0.0009), while curbing T2 lesions too. Safety matched prior trials. Lesions nearly vanished.
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