Zenas BioPharma Q4/FY2025 net loss $377.7M; obexelimab BLA filing on track Q2 2026

Zenas BioPharma, Inc.

FY2025 net loss of $377.7M vs $157.0M in FY2024; Q4 net loss $240.4M.
Cash and investments $360.5M at Dec 31, 2025; expects funding into Q2 2027.
Up to $250M debt facility from Pharmakon; $75M drawn at closing.
Obexelimab BLA for IgG4-RD to FDA in Q2 2026; EMA MAA in H2 2026.
Topline Phase 2 SunStone (SLE) results expected Q4 2026; orelabrutinib Phase 3 PPMS trial initiated.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

Zenas BioPharma, Inc. reported financial results for the quarter and year ended December 31, 2025.

Period: the quarter and year ended December 31, 2025
Result: reported results

Exact text from the filing

Zenas BioPharma, Inc. issued a press release announcing its financial results for the quarter and year ended December 31, 2025.

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Zenas BioPharma, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-027961

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