{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-109737","form_type":"8-K","ticker":"ZBIO","cik":"0001953926","company_name":"Zenas BioPharma, Inc.","filed_at":"2025-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.140312+00:00","generated_at":"2026-05-16T21:43:32.511724+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Zenas BioPharma Q3 net loss $51.5M; obexelimab Phase 3 data expected year-end 2025","bullets":["Net loss $51.5M (Q3 2025) vs $38.6M (Q3 2024); R&D $34.4M, G&A $13.2M.","Cash $301.6M at Sep 30; +$120M Oct private placement; runway into Q4 2026.","Obexelimab Phase 3 INDIGO topline data in IgG4-RD expected year-end 2025.","Phase 2 MoonStone RMS: 95% reduction in GdE lesions (p=0.0009); 24-week data Q1 2026.","Licensed orelabrutinib & two candidates from InnoCare; $300M Royalty Pharma deal ($75M upfront)."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-109737","json":"https://secwatch.observer/filing/0001104659-25-109737.json","markdown":"https://secwatch.observer/filing/0001104659-25-109737.md","text":"https://secwatch.observer/filing/0001104659-25-109737.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1953926/000110465925109737/0001104659-25-109737-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1953926/000110465925109737/tm2530850d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T21:43:32.511724+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}