Earnings ·
Zenas BioPharma reports Q3 net loss of $108.9M on $10M revenue and $647.1M cash
ZBIOZenas BioPharma, Inc.
Zenas BioPharma reported a net loss of $108.9 million, or $1.65 per share, for the quarter ended September 30, 2026, compared to a net loss of $51.5 million in the prior-year period. Revenue was $10.0 million, derived from a Bristol-Myers Squibb development milestone, while R&D and G&A expenses rose significantly due to clinical trial costs and pre-commercialization headcount increases. The company ended the quarter with $647.1 million in cash, cash equivalents, and investments, which management projects will fund operations through at least Q2 2029 assuming receipt of a potential $75 million milestone from Royalty Pharma and a $75 million draw on its Pharmakon debt facility tied to FDA approval of obexelimab for IgG4-RD. Zenas is a clinical-stage global biopharmaceutical company focused on developing therapies for autoimmune and inflammatory diseases.