Highest-materiality recent filing
Zenas BioPharma Q1 net loss $81M; obexelimab BLA on track
Net loss $81.0M in Q1 2026 vs $33.6M in Q1 2025; R&D expenses rose to $60.4M.
Zenas BioPharma raises ~$287M via convertible notes and equity to fund pipeline and launch
Closed $200M aggregate principal of 2.50% Convertible Senior Notes due 2032; net proceeds ~$193.7M.
Zenas BioPharma Q4/FY2025 net loss $377.7M; obexelimab BLA filing on track Q2 2026
FY2025 net loss of $377.7M vs $157.0M in FY2024; Q4 net loss $240.4M.
Zenas BioPharma adopts amended Short-Term Incentive Plan for annual cash bonuses
Plan effective Jan 1, 2026; provides discretionary annual cash bonuses based on company and individual performance.
Zenas BioPharma reports positive Phase 3 INDIGO trial of obexelimab in IgG4-RD; plans BLA in Q2 2026
Obexelimab met primary endpoint: 56% reduction in IgG4-RD flare risk vs placebo (HR 0.443, p=0.0005).
Zenas BioPharma adopts 2026 Inducement Plan for up to 1M shares for new hires
Plan reserves 1,000,000 shares of common stock for equity awards to new employees as hiring inducements.
Zenas BioPharma Q3 net loss $51.5M; obexelimab Phase 3 data expected year-end 2025
Net loss $51.5M (Q3 2025) vs $38.6M (Q3 2024); R&D $34.4M, G&A $13.2M.
Obexelimab showed 95% relative reduction in new GdE T1 lesions vs placebo (p=0.0009) at weeks 8 and 12.
Zenas licenses three autoimmune candidates from InnoCare; raises $120M in PIPE
License grants Zenas rights to orelabrutinib (BTK inhibitor) for MS globally and non-oncology indications outside Greater China & SE Asia.
Zenas BioPharma secures up to $300M from Royalty Pharma for obexelimab royalty
Royalty Pharma pays $75M upfront; additional $75M upon INDIGO trial success, $75M on FDA approval for IgG4-RD, $75M on FDA approval for SLE.
Zenas BioPharma Q2 net loss $52.2M; cash $274.9M; obexelimab trials on track
Net loss of $52.2M for Q2 2025, compared to $38.0M in Q2 2024.
Zenas BioPharma holds 2025 annual meeting; director Ting Xiao not re-elected, board reduced to 8
Leon O. Moulder, Jr. and Hongbo Lu, Ph.D. elected as Class I directors for three-year terms.
Zenas BioPharma updates pipeline timelines; obexelimab Phase 3 IgG4-RD data due year-end 2025
Phase 3 INDIGO trial (IgG4-RD) topline results expected year-end 2025; over 190 patients enrolled.
Zenas BioPharma Q1 net loss $33.6M; cash $314.2M; pipeline milestones set
Cash and investments $314.2M as of March 31, 2025; runway expected into Q4 2026.
Zenas BioPharma reports preliminary $350M cash; key obexelimab trial readouts in 2025
Preliminary unaudited cash, equivalents, and short-term investments ~$350M as of Dec 31, 2024; expected to fund ops into Q4 2026.
Zenas provides obexelimab trial updates: Ph3 INDIGO topline end-2025, Ph2 data 2025-2026
Phase 3 INDIGO trial in IgG4-RD fully enrolled (over 190 patients); topline results expected year-end 2025.
Zenas Q3 2024: Net loss $38.6M; raised $258.7M IPO; obexelimab INDIGO topline by end 2025
Completed IPO raising $258.7M gross proceeds; cash $386.8M to fund into Q4 2026.
Zenas BioPharma completes IPO; adopts restated charter and amended bylaws
Authorized 175M shares of common stock and 25M shares of undesignated preferred stock.
Tomas Kiselak did not stand for re-election at the expiration of his term ending at the Annual Meeting, and, accordingly, as of the conclusion of the Annual Meeting Mr. Kiselak’s term ended with his resignation from the Board of Directors of the Company, and the size of the Board of Directors was reduced by one.
Ting (Tim) Xiao did not stand for re-election at the expiration of his term ending at the Annual Meeting, and, accordingly, as of the conclusion of the Annual Meeting Mr. Xiao’s term ended with his resignation from the Board of Directors of the Company
Max materiality 0.90 · Median 0.70 · Most common event other_material