Zenas Biopharma | 8-K: FY2025 Q2 EPS: USD -1.25

EPS: As of FY2025 Q2, the actual value is USD -1.25.

Cash and Investments

• As of June 30, 2025, Zenas BioPharma, Inc. had cash, cash equivalents, and investments totaling $274.9 million. The company expects these funds to cover operating expenses and capital expenditure requirements into the fourth quarter of 2026.

Research and Development Expenses

• R&D expenses for the quarter ended June 30, 2025, were $43.0 million, an increase from $33.8 million for the same period in 2024. This $9.2 million increase was primarily due to higher costs related to the clinical development of obexelimab and increased personnel costs, partially offset by decreased costs in partnered programs.

General and Administrative Expenses

• G&A expenses were $12.1 million for the quarter ended June 30, 2025, compared to $5.9 million for the quarter ended June 30, 2024. The $6.2 million increase was attributed to higher personnel costs, including stock-based compensation, and expenses related to pre-commercialization activities and operating as a public company.

Net Loss

• The net loss for the quarter ended June 30, 2025, was $52.2 million, compared to a net loss of $38.0 million for the same period in 2024.

Outlook / Guidance

• Zenas BioPharma expects to report topline results from the Phase 3 INDIGO trial in Immunoglobulin G4-Related Disease around year-end 2025. The company also anticipates results from the Phase 2 MoonStone trial in Relapsing Multiple Sclerosis early in the fourth quarter of 2025, and expects to complete enrollment for the Phase 2 SunStone trial in Systemic Lupus Erythematosus by year-end 2025, with topline results expected mid-2026.