Quarterly ResultMay 13, 2026, 06:21 AM
Zenas BioPharma Raises $419M, Obexelimab BLA on Track; Q1 Net Loss $81M
AI Summary
Zenas BioPharma reported a Q1 2026 net loss of $81.0 million, an increase from $33.6 million in Q1 2025, primarily due to increased R&D and G&A expenses. The company significantly strengthened its balance sheet by raising $419.0 million in gross proceeds year-to-date through public offerings and a debt facility, extending its cash runway into Q2 2029. Key pipeline advancements include obexelimab marketing applications for IgG4-RD on track for FDA submission this quarter and EMA in H2 2026, and enrollment completion for the Phase 2 SunStone SLE trial with topline results expected in Q4 2026. Additionally, the first subject was dosed in the Phase 1 trial for ZB021, and Director Tomas Kiselak resigned from the Board.
Key Highlights
- Raised $419.0M in gross proceeds year-to-date from public offerings and a debt facility.
- Extended cash, cash equivalents, and investments runway into Q2 2029, totaling $718.5M as of March 31, 2026.
- Q1 2026 net loss was $81.0M, compared to $33.6M in Q1 2025.
- Q1 2026 R&D expenses increased by $25.5M to $60.4M, up from $34.9M in Q1 2025.
- Obexelimab BLA for IgG4-RD on track for FDA submission this quarter and EMA in H2 2026.
- Obexelimab Phase 2 SunStone SLE trial enrollment complete; topline results expected in Q4 2026.
- First subject dosed in Phase 1 trial of ZB021; initial clinical data expected by year-end.
- Director Tomas Kiselak resigned from the Board of Directors at the Annual Meeting.