Zenas BioPharma, Inc. (ZBIO) Form 8-K — Aug 13, 2026
Zenas BioPharma reported a Q2 2026 net loss of $111.5 million, more than double the $52.2 million loss a year earlier, driven by $62.9 million of R&D spend, $15.7 million of G&A, and $30.0 million of acquired in-process R&D milestones. Revenue was $1.0 million, tied to a development milestone from Tenacia Biotechnology on ZB005. Cash, cash equivalents and investments stood at $673.9 million as of June 30, 2026, and the company expects this — plus $48.7 million of recent ATM proceeds and, contingent on FDA approval, a $75 million Royalty Pharma milestone and $75 million Pharmakon draw — to fund operations at least through Q2 2029.
Key figures
- Revenue
- 1000000
- Guidance
- Cash, cash equivalents and investments of $673.9M as of June 30, 2026, together with $48.7M received to date in Q3 2026 from ATM sales and assuming a $75M Royalty Pharma milestone and $75M Pharmakon debt draw contingent on FDA approval of obexelimab, are expected to fund operations at least through Q2 2029.
- Total Assets
- 701690000
- Cash Position
- 673889000
- Cash runway
- at least through Q2 2029
- Revenue q2 2025
- 0
- Working capital
- 587976000
- Cash dec 31 2025
- 360464000
- Net loss q2 2025
- 52223000
- Flare free week52
- 73.2% obexelimab vs 45.4% placebo
- Total liabilities
- 454593000
- Ga expense q2 2025
- 12136000
- Ga expense q2 2026
- 15746000
- Rd expense q2 2025
- 43027000
- Rd expense q2 2026
- 62913000
- Royalty obligation
- 91737000
- Stockholders equity
- 247097000
- Aiprd expense q2 2026
- 30000000
- Pdufa target action date
- May 27, 2027
- Potential pharmakon draw
- 75000000
- Indigo flare risk reduction
- 56% (HR 0.44; 95% CI 0.277-0.711; p=0.0005)
- Convertible senior notes net
- 222956000
- Director option grant shares
- 37000
- Senior secured term loan net
- 74060000
- Atm net proceeds q3 2026 to date
- 48700000
- Weighted avg shares basic diluted
- 63112314
- Potential royalty pharma milestone
- 75000000
- April 2026 overallotment net proceeds
- 43200000
Price after filing
Close on the filing date to close N calendar days later (from $32.44). Historical, not a forecast.
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