Zenas BioPharma reports preliminary $350M cash; key obexelimab trial readouts in 2025

Zenas BioPharma, Inc.

Preliminary unaudited cash, equivalents, and short-term investments ~$350M as of Dec 31, 2024; expected to fund ops into Q4 2026.
Phase 3 INDIGO trial (IgG4-RD) enrollment complete; topline results expected year-end 2025.
Phase 2 MoonStone (RMS) 12-week primary endpoint results expected Q3 2025; Phase 2 SunStone (SLE) enrollment to finish in 2025.
Out-licensed thyroid eye disease programs (ZB001) to Zai Lab for Greater China; received upfront fee plus milestones and royalties.
Raised ~$458.7M in aggregate gross proceeds from Series C and IPO to fund obexelimab development.

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