Quarterly ResultMay 13, 2026, 06:42 AM
Zenas BioPharma Q1 Net Loss $(81.0)M; Raises $433.5M in Financing
AI Summary
Zenas BioPharma reported a net loss of $(80.99) million for the first quarter of 2026, a significant increase from $(33.57) million in the same period last year, with no revenue generated. Despite the increased losses and R&D expenses, the company substantially strengthened its liquidity position by raising $433.48 million through a senior secured term loan, convertible senior notes, and equity offerings. This financing is expected to fund operations and capital expenditures for at least the next twelve months.
Key Highlights
- Net loss for Q1 2026 was $(80.99) million, compared to $(33.57) million in Q1 2025.
- Net loss per share was $(1.46) for Q1 2026, compared to $(0.80) for Q1 2025.
- Total revenue for Q1 2026 was $0, down from $10.0 million in Q1 2025.
- Research and development expenses increased to $60.44 million in Q1 2026 from $34.92 million in Q1 2025.
- General and administrative expenses rose to $16.91 million in Q1 2026 from $12.42 million in Q1 2025.
- Net cash provided by financing activities was $433.48 million in Q1 2026, up from $0.10 million in Q1 2025.
- Cash and cash equivalents increased to $500.22 million as of March 31, 2026, from $110.64 million at December 31, 2025.
- Company secured a senior secured term loan of up to $250.0 million, with $75.0 million funded in Q1 2026.
Price Impact
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