{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-027961","form_type":"8-K","ticker":"ZBIO","cik":"0001953926","company_name":"Zenas BioPharma, Inc.","filed_at":"2026-03-16T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.867672+00:00","generated_at":"2026-05-15T11:58:10.189427+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Zenas BioPharma Q4/FY2025 net loss $377.7M; obexelimab BLA filing on track Q2 2026","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-027961","json":"https://secwatch.observer/filing/0001104659-26-027961.json","markdown":"https://secwatch.observer/filing/0001104659-26-027961.md","text":"https://secwatch.observer/filing/0001104659-26-027961.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1953926/000110465926027961/0001104659-26-027961-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1953926/000110465926027961/tm268878d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T11:58:10.189427+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":[{"claim_id":"77269738d6ce7fe93523827bd1be38945ea502a4","claim":"Zenas BioPharma, Inc. reported financial results for the quarter and year ended December 31, 2025.","evidence_excerpt":"Zenas BioPharma, Inc. issued a press release announcing its financial results for the quarter and year ended December 31, 2025.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1953926/000110465926027961/0001104659-26-027961-index.htm","confidence":0.92,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter and year ended December 31, 2025"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}