Quarterly ResultAug 13, 2026, 07:18 AM
Zenas BioPharma Q2 Net Loss Widens to $111.5M; Raises $298M Debt
AI Summary
Zenas BioPharma reported a net loss of $111.5 million for Q2 2026, significantly wider than the $52.2 million loss in Q2 2025. For the first six months of 2026, the net loss was $192.4 million, with revenue at $1.0 million, a decrease from $10.0 million in the prior year. The company secured new financing, including a $75.0 million senior secured term loan and $223.1 million from convertible senior notes, bolstering its cash, cash equivalents, and investments to $673.9 million as of June 30, 2026, providing at least 12 months of liquidity.
Key Highlights
- Q2 2026 net loss was $111.5 million, compared to $52.2 million in Q2 2025.
- H1 2026 net loss was $192.4 million, compared to $85.8 million in H1 2025.
- H1 2026 total revenue was $1.0 million, down from $10.0 million in H1 2025.
- Research and development expenses rose to $123.4 million for H1 2026.
- Acquired in-process R&D was $30.0 million for H1 2026.
- Cash, cash equivalents, and investments totaled $673.9 million as of June 30, 2026.
- Secured $75.0 million senior secured term loan in March 2026.
- Issued $223.1 million in convertible senior notes.
- Liquidity sufficient for at least 12 months from June 30, 2026.
Price Impact
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