Short answer
Zenas BioPharma, Inc. (ZBIO) filed its Q1 2026 10-Q quarterly report on May 13, 2026 for the quarter ended Mar 31, 2026.
Q1 2026 key financials · XBRL
- Net income
- −$81M
- −141.2% YoY
- EPS (diluted)
- −$1.46
- −82.5% YoY
Source: XBRL data from the Zenas BioPharma, Inc. (ZBIO) Q1 2026 10-Q on SEC EDGAR. USD.
Zenas BioPharma, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue: no product sales; collaboration and license-fee revenue only, with no quarterly revenue amount or YoY comparison disclosed
- Net loss $81.0M vs $33.6M YoY; profitability margin percentages not disclosed
- Lead program: obexelimab IgG4-RD trial, 56% flare-risk reduction vs placebo, hazard ratio 0.44
- Cash, equivalents and investments $718.5M at March 31, 2026; ATM proceeds $71.5M during quarter
- Outlook: cash runway projected into 2029; IgG4-RD BLA planned for second quarter 2026
Risk Factors
- New tariff exposure triggered by April 2026 U.S. tariffs on patented pharmaceutical products
- China supply-chain dependence through sole obexelimab CMO WuXi Biologics
- Debt-service risk from Loan Agreement maturing in 2031 and Convertible Notes
- Convertible Note conversions may require significant cash, impairing liquidity
- Cross-border trade restrictions could increase material and manufacturing costs
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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