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Investing.com - H.C. Wainwright has reiterated a Buy rating and $30.00 price target on Zenas Biopharma (NASDAQ:ZBIO), currently trading at $25.90, following the company’s license agreement with InnoCare Pharma (SSE:688428). The stock has shown remarkable momentum, surging over 245% in the past six months. According to InvestingPro data, analyst targets range from $24 to $45, with a strong buy consensus.
The license agreement expands Zenas’s pipeline beyond Obexelimab, adding Orelabrutinib, an oral, CNS-penetrant BTK inhibitor currently in Phase 3 development for primary progressive multiple sclerosis (PPMS). Near-term Phase 3 initiation is expected for secondary progressive multiple sclerosis (SPMS).
H.C. Wainwright views the agreement as a strategic complement to Zenas’s ongoing Phase 2 MoonStone trial in relapsing multiple sclerosis (RMS), which has topline results expected in early fourth quarter 2025.
The agreement also includes two preclinical assets: ZB021, an oral IL-17AA/AF inhibitor, and ZB022, an oral brain-penetrant TYK2 inhibitor. Both are expected to have IND filings and Phase 1 initiations in 2026.
Zenas has also announced a $120 million private placement financing, which H.C. Wainwright believes positions the company well ahead of anticipated near-term topline results for Obexelimab in both IgG4-RD and RMS programs. InvestingPro analysis shows the company maintains a healthy current ratio of 5.23, with liquid assets well exceeding short-term obligations. Discover 12 additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
In other recent news, Zenas BioPharma has entered into a significant licensing agreement with InnoCare Pharma, securing global rights to develop and commercialize three autoimmune product candidates, including orelabrutinib, a BTK inhibitor currently in Phase 3 development for multiple sclerosis. The deal’s total potential value exceeds $2 billion, with Zenas agreeing to pay up to $100 million in cash for upfront and near-term milestone payments, along with up to 7 million shares of Zenas common stock. Citi has reiterated its Buy rating on Zenas Biopharma , maintaining a $27.00 price target, following discussions with the company’s Chairman and CEO about their lead drug candidate obexelimab.
Meanwhile, Zeta Network Group announced a strategic partnership with SOLV Foundation to enhance its Bitcoin-centric financial initiatives. This collaboration will leverage SOLV’s platform, which holds $2.5 billion in total value locked, to optimize the efficiency of Zeta’s Bitcoin holdings. The agreement also includes depositing ZNB’s Bitcoin assets on SOLV’s platform under a regulated third-party custodian to ensure transparency and institutional-grade auditability. These developments highlight the ongoing strategic moves by Zenas BioPharma and Zeta Network Group to expand their operations and product offerings.
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