---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-009368"
form_type: "8-K"
ticker: "ZBIO"
cik: "0001953926"
company_name: "Zenas BioPharma, Inc."
filed_at: "2025-02-05T23:59:59+00:00"
generated_at: "2026-05-27T02:55:15.829004+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-009368
- form_type: 8-K
- ticker: ZBIO
- cik: 0001953926
- company_name: Zenas BioPharma, Inc.
- filed_at: 2025-02-05T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1953926/000110465925009368/0001104659-25-009368-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1953926/000110465925009368/tm255498d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-009368
- JSON: https://secwatch.observer/filing/0001104659-25-009368.json
- Plain text: https://secwatch.observer/filing/0001104659-25-009368.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.