Zenas Q2 net loss $111.5M; FDA accepts obexelimab BLA, PDUFA May 27, 2027

Zenas BioPharma, Inc.

Q2 2026 net loss $111.5M vs $52.2M; revenue $1.0M from Tenacia milestone; R&D $62.9M, G&A $15.7M, AIPR&D $30.0M.
Cash $673.9M at June 30; runway through Q2 2029 assuming $75M Royalty Pharma milestone and $75M Pharmakon draw.
FDA accepted obexelimab BLA for IgG4-RD; PDUFA May 27, 2027; MAA to EMA expected H2 2026.
Phase 3 INDIGO: 56% flare risk reduction (HR 0.44, p=0.0005); 73.2% flare-free vs 45.4% placebo.
CFO Jennifer Fox to become Strategic Advisor to Board Chair Sept 30; Joe Farmer named Principal Financial Officer.

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