Welcome to our dedicated page for Zenas BioPharma SEC filings (Ticker: ZBIO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Zenas BioPharma, Inc. (Nasdaq: ZBIO) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Zenas is a clinical-stage global biopharmaceutical company focused on therapies for autoimmune diseases, and its filings document key aspects of its business, including stock exchange listing details, financing arrangements, licensing agreements and clinical development updates.
Recent Form 8-K filings describe material events such as the revenue participation and funding agreement with Royalty Pharma related to obexelimab, under which Royalty Pharma will provide up to $300 million in consideration in exchange for specified royalty and revenue participation rights. Other 8-Ks detail the license agreement with InnoCare Pharma granting Zenas exclusive rights to develop, manufacture and commercialize orelabrutinib in the multiple sclerosis field globally and non-oncology indications outside certain territories, as well as rights to ZB021 and ZB022. Additional current reports cover private placement financings, adoption of the 2026 Inducement Plan for equity awards, and press releases furnishing quarterly financial results.
Through this page, users can review how Zenas reports its status as an emerging growth company, its listing of common stock on The Nasdaq Global Select Market under the symbol ZBIO, and the terms of material definitive agreements that shape its capital structure and pipeline strategy. Filings linked here include exhibits such as inducement equity plans, option and restricted stock unit agreements, subscription and registration rights agreements, and revenue participation contracts, which provide further detail on governance and compensation frameworks.
Stock Titan enhances these documents with AI-powered summaries that explain the significance of each filing in clear language. As new 8-Ks, 10-Qs, 10-Ks and other forms become available on EDGAR, they are incorporated so investors can quickly see how developments in obexelimab, orelabrutinib, ZB021 and ZB022, as well as financing and licensing transactions, are reflected in Zenas BioPharma’s official regulatory record.
Zenas BioPharma, Inc. will hold its 2026 Annual Meeting of Stockholders as a virtual-only event on May 11, 2026 at 8:00 a.m. Eastern Time. Stockholders of record as of March 12, 2026, when 57,371,044 common shares were outstanding, may participate and vote.
Two Class II directors, James Boylan and Patrick Enright, are nominated to serve until the 2029 annual meeting, while existing Class II director Tomas Kiselak will not stand for re‑election and the board will shrink by one seat. Stockholders are also asked to ratify Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2026. The proxy describes board structure, committee responsibilities, director compensation and 2024–2025 pay for key executives, including CEO Leon O. Moulder Jr., President and COO Joseph L. Farmer, and Head of R&D and CMO Lisa von Moltke, M.D.
Zenas BioPharma, Inc. will hold its 2026 Annual Meeting of Stockholders as a virtual-only event on May 11, 2026 at 8:00 a.m. Eastern Time. Stockholders of record as of March 12, 2026, when 57,371,044 common shares were outstanding, may participate and vote.
Two Class II directors, James Boylan and Patrick Enright, are nominated to serve until the 2029 annual meeting, while existing Class II director Tomas Kiselak will not stand for re‑election and the board will shrink by one seat. Stockholders are also asked to ratify Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2026. The proxy describes board structure, committee responsibilities, director compensation and 2024–2025 pay for key executives, including CEO Leon O. Moulder Jr., President and COO Joseph L. Farmer, and Head of R&D and CMO Lisa von Moltke, M.D.
Zenas BioPharma presents a detailed 10-K describing its immunology-focused pipeline, led by obexelimab and orelabrutinib. Obexelimab, a bifunctional anti-CD19/FcγRIIb antibody, showed a 56% reduction in IgG4-related disease flare risk versus placebo in the Phase 3 INDIGO trial and is moving toward BLA and MAA submissions in 2026.
In relapsing multiple sclerosis, the Phase 2 MoonStone study showed a 95% relative reduction in new gadolinium-enhancing T1 lesions at weeks 8–12 versus placebo, with effects maintained through week 24 and a 40% drop in serum NfL. Zenas also highlights a broad early-stage I&I portfolio (including orelabrutinib, ZB021, ZB022, ZB002 and ZB004) plus regional programs and licensing deals with Xencor, InnoCare, Viridian, Zai Lab and Tenacia. The company has no approved products and no product sales to date.
Zenas BioPharma presents a detailed 10-K describing its immunology-focused pipeline, led by obexelimab and orelabrutinib. Obexelimab, a bifunctional anti-CD19/FcγRIIb antibody, showed a 56% reduction in IgG4-related disease flare risk versus placebo in the Phase 3 INDIGO trial and is moving toward BLA and MAA submissions in 2026.
In relapsing multiple sclerosis, the Phase 2 MoonStone study showed a 95% relative reduction in new gadolinium-enhancing T1 lesions at weeks 8–12 versus placebo, with effects maintained through week 24 and a 40% drop in serum NfL. Zenas also highlights a broad early-stage I&I portfolio (including orelabrutinib, ZB021, ZB022, ZB002 and ZB004) plus regional programs and licensing deals with Xencor, InnoCare, Viridian, Zai Lab and Tenacia. The company has no approved products and no product sales to date.
Zenas BioPharma reported wider losses for the fourth quarter and full year 2025 while advancing its autoimmune pipeline and securing new financing. For Q4 2025, total revenue was $0 compared with $5,000 (thousand) a year earlier, as prior license and collaboration revenue did not recur. Q4 total operating expenses rose to $237,984 (thousand), driven by $166,672 (thousand) of acquired in-process R&D, leading to a Q4 net loss of $240,442 (thousand) versus $52,604 (thousand) in Q4 2024.
For full year 2025, total revenue was $10,000 (thousand) versus $5,000 (thousand) in 2024, while total operating expenses more than doubled to $393,057 (thousand), including $171,672 (thousand) of acquired in-process R&D. Net loss for 2025 increased to $377,737 (thousand) from $156,988 (thousand) in 2024, with basic and diluted net loss per share of $8.44. Cash, cash equivalents and investments were $360,464 (thousand) as of December 31, 2025, and the company noted an accumulated deficit of $765,128 (thousand).
Operationally, Zenas highlighted positive Phase 3 INDIGO results for obexelimab in IgG4-related disease and plans to submit marketing applications to the FDA in Q2 2026 and the EMA in the second half of 2026. It expects topline data from the global Phase 2 SunStone trial of obexelimab in systemic lupus erythematosus in Q4 2026 and continues Phase 3 development of orelabrutinib in progressive multiple sclerosis, with a non-active secondary progressive MS trial expected to start in Q1 2026. The company is also progressing earlier-stage programs ZB021, ZB022 and ZB014 and has secured up to $250 million in non-dilutive, multi-tranche debt financing from Pharmakon to support commercialization and pipeline investment.
Zenas BioPharma reported wider losses for the fourth quarter and full year 2025 while advancing its autoimmune pipeline and securing new financing. For Q4 2025, total revenue was $0 compared with $5,000 (thousand) a year earlier, as prior license and collaboration revenue did not recur. Q4 total operating expenses rose to $237,984 (thousand), driven by $166,672 (thousand) of acquired in-process R&D, leading to a Q4 net loss of $240,442 (thousand) versus $52,604 (thousand) in Q4 2024.
For full year 2025, total revenue was $10,000 (thousand) versus $5,000 (thousand) in 2024, while total operating expenses more than doubled to $393,057 (thousand), including $171,672 (thousand) of acquired in-process R&D. Net loss for 2025 increased to $377,737 (thousand) from $156,988 (thousand) in 2024, with basic and diluted net loss per share of $8.44. Cash, cash equivalents and investments were $360,464 (thousand) as of December 31, 2025, and the company noted an accumulated deficit of $765,128 (thousand).
Operationally, Zenas highlighted positive Phase 3 INDIGO results for obexelimab in IgG4-related disease and plans to submit marketing applications to the FDA in Q2 2026 and the EMA in the second half of 2026. It expects topline data from the global Phase 2 SunStone trial of obexelimab in systemic lupus erythematosus in Q4 2026 and continues Phase 3 development of orelabrutinib in progressive multiple sclerosis, with a non-active secondary progressive MS trial expected to start in Q1 2026. The company is also progressing earlier-stage programs ZB021, ZB022 and ZB014 and has secured up to $250 million in non-dilutive, multi-tranche debt financing from Pharmakon to support commercialization and pipeline investment.
Entities associated with Zenas BioPharma director Hongbo Lu reported an open-market purchase of company stock. On February 11, 2026, NEXTBio Master Fund LP or NEXTBio Evergreen LLC bought 25,985 shares of Zenas BioPharma, Inc. common stock at $22.50 per share, in a transaction reported as an indirect holding for Lu.
Following this trade, the filing shows 347,968 shares of Zenas BioPharma common stock beneficially owned indirectly. The footnotes state the shares are held by NEXTBio investment entities and that Lu and related management entities may be deemed indirect beneficial owners, with beneficial ownership disclaimed except for any pecuniary interest.
Zenas BioPharma, Inc. director Patricia L. Allen reported a series of open‑market purchases of the company’s common stock. On February 12, 2026, she bought 5,000 shares at a weighted average price of $23.77, 5,700 shares at $24.34, and 5,000 shares at $26.50.
On February 13, 2026, she purchased an additional 4,160 shares at $26.36. Following these transactions, she directly owns 19,860 shares of Zenas BioPharma common stock. Some reported prices are weighted averages for multiple trades within ranges from $23.38 up to $24.70 per share.
Zenas BioPharma, Inc. has amended and restated its Short-Term Incentive Plan, an annual discretionary cash bonus program effective January 1, 2026. The plan allows eligible full- and part-time employees to earn bonuses based on company performance and individual achievement of agreed goals.
The Board of Directors or its committee administers the plan for executives, while the Chief Executive Officer and executive leadership team oversee it for other employees. Awards are subject to Board or administrator approval, must be paid no later than March 15 following each calendar year, require employment through the payment date, and are subject to the company’s incentive compensation recoupment policies.
FMR LLC filed an amended Schedule 13G reporting a large ownership stake in Zenas Biopharma Inc.7,652,255 shares, representing 14.3% of the outstanding common stock. FMR reports sole voting power over 7,651,279 shares and sole dispositive power over 7,652,255 shares, while Abigail P. Johnson is reported with sole dispositive power over the same 7,652,255 shares. The filing states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Zenas. It also notes that one or more other persons have rights to receive dividends or sale proceeds, but no such person holds more than five percent of the class.
Zenas BioPharma, Inc.’s chief executive officer and chairman, Leon O. Moulder, Jr., purchased 57,000 shares of common stock on February 2, 2026 at a weighted average price of $17.96 per share, in multiple trades between $17.69 and $18.14.
Following this transaction, he directly holds 423,155 common shares. A revocable trust associated with him holds 36,928 shares, and Tellus BioVentures LLC holds 1,672,039 shares; he may be deemed to have voting and dispositive power over these but disclaims beneficial ownership except for his pecuniary interest.
The company is permitting resale of up to 8,533 shares of its Common Stock held by Crown Helix Strategies Ltd. under this prospectus supplement. These shares were transferred to Crown Helix Strategies Ltd. in December 2025 as part of an internal reorganization involving Crown/Long Short 41 Segregated Portfolio.
The supplement removes Crown/Long Short 41 Segregated Portfolio as a selling stockholder and adds Crown Helix Strategies Ltd. instead, without changing any other selling stockholders. Shares of Common Stock outstanding were 53,679,166 as of October 31, 2025; this is a baseline figure, not the amount being offered.