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Zenas BioPharma (ZBIO) completed its IPO, raising $258.7 million in gross proceeds, and reported Q3 2024 financial results. The company completed targeted enrollment for its Phase 3 INDIGO trial of obexelimab for IgG4-RD treatment, with topline results expected by end of 2025. R&D expenses increased to $33.5 million from $9.4 million year-over-year, while G&A expenses rose to $7.5 million from $5.0 million. The company reported a net loss of $38.6 million. Cash balance stands at $386.8 million, expected to fund operations into Q4 2026.
Zenas BioPharma (NASDAQ: ZBIO) has completed targeted enrollment for its Phase 3 INDIGO trial of obexelimab, a treatment for IgG4-Related Disease (IgG4-RD). The INDIGO trial represents the largest clinical trial ever conducted for IgG4-RD patients. The company expects to report topline results by the end of 2025. This milestone demonstrates Zenas's ability to execute its clinical development plans as it works toward becoming a leader in immunology-based therapies.
Zenas BioPharma (Nasdaq: ZBIO), a clinical-stage biopharmaceutical company, has announced its participation in four major healthcare investor conferences in November and December 2024. The company will present at the Guggenheim's Inaugural Healthcare Innovation Conference in Boston, Jefferies London Healthcare Conference, Citi's Global Healthcare Conference in Miami, and Evercore ISI HealthCONx Conference in Coral Gables. Live webcasts and archived replays of presentations at Jefferies, Citi, and Evercore conferences will be available on the company's website under the Investors and Media section.
Zenas BioPharma (Nasdaq: ZBIO), a clinical-stage biopharmaceutical company, announced the closing of the underwriters' full exercise of their option to purchase an additional 1,985,294 shares at $17.00 per share in its upsized initial public offering (IPO). This follows the initial offering of 13,235,294 shares, which closed on September 16, 2024. The total offering now amounts to 15,220,588 shares, generating gross proceeds of approximately $258.7 million. The shares began trading on the Nasdaq Global Select Market on September 13, 2024. Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities served as joint book-running managers. Registration statements for the shares were filed with the U.S. Securities and Exchange Commission and became effective on September 12, 2024.
Zenas BioPharma (Nasdaq: ZBIO) has announced the pricing of its upsized initial public offering (IPO) of 13,235,294 shares at $17.00 per share. The company expects to raise approximately $225.0 million in gross proceeds. Trading on the Nasdaq Global Select Market is set to begin on September 13, 2024, with the offering closing on September 16, 2024. Zenas has granted underwriters a 30-day option to purchase up to an additional 1,985,294 shares at the IPO price. Morgan Stanley, Jefferies, Citigroup, and Guggenheim Securities are acting as joint book-running managers for the offering.
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