Short answer
Zenas BioPharma, Inc. (ZBIO) filed its Q2 2026 10-Q quarterly report on Aug 13, 2026 for the quarter ended Jun 30, 2026.
Q2 2026 key financials · XBRL
- Net income
- −$111M
- −113.4% YoY · −37.6% QoQ
- EPS (diluted)
- −$1.78
- −42.4% YoY · −21.9% QoQ
Source: XBRL data from the Zenas BioPharma, Inc. (ZBIO) Q2 2026 10-Q on SEC EDGAR. USD.
Zenas BioPharma, Inc. Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- No product revenue; collaboration and license revenue included a $1.0M Tenacia milestone in June 2026
- Net loss $111.5M vs $52.2M YoY for the quarter
- Cash, equivalents and investments $673.9M at June 30, 2026
- ATM proceeds $71.5M; $96.8M remaining availability
- Outlook: funding expected into 2029, subject to potential $75M milestones and $75M Pharmakon borrowing
Risk Factors
- Newly added tariff risk triggered by April 2026 U.S. tariffs on patented pharmaceutical products
- China supply-chain exposure, including sole obexelimab CMO WuXi Biologics and orelabrutinib partner InnoCare
- Debt-servicing shortfall risk, with no foreseeable operating cash flow sufficient for indebtedness and capital expenditures
- Convertible Notes liquidity risk, requiring cash settlement upon certain conversions, maturity, or fundamental changes
- CFO transition risk, with Jennifer Fox departing September 30, 2026 and interim finance duties assigned to COO Joseph Farmer
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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