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WALTHAM, Mass. - Zenas BioPharma, Inc. (NASDAQ:ZBIO), a clinical-stage biotech company with a market capitalization of $1.01 billion, announced Monday that its experimental drug obexelimab met the primary endpoint in a Phase 2 trial for relapsing multiple sclerosis, demonstrating a 95% relative reduction in new brain lesions compared to placebo. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 5.23, though it remains pre-revenue stage.
The MoonStone trial, which evaluated 116 patients with relapsing MS, showed that those receiving obexelimab had significantly fewer new gadolinium-enhancing T1 lesions over weeks 8 and 12 compared to those on placebo. The difference was highly statistically significant (p=0.0009), according to the company’s press release.
Patients treated with obexelimab showed an adjusted mean of 0.01 new lesions per scan compared to 0.23 for those on placebo. The drug also significantly reduced the number of new and enlarging T2 weighted hyperintense lesions, which represent chronic disease burden.
"Near-complete suppression of new GdE T1 hyperintense lesions, which are markers of active inflammation, was observed with obexelimab by 8 weeks of treatment and was sustained through week 12," said Lisa von Moltke, Chief Medical Officer of Zenas. The positive trial results have contributed to the company’s strong market performance, with InvestingPro data showing a remarkable 139% price return over the past six months. Subscribers can access 8 additional key financial insights about ZBIO on the platform.
The safety profile was consistent with previous trials, with most adverse events being mild injection site reactions, along with some cases of infections and hypersensitivity.
Obexelimab is a bifunctional monoclonal antibody designed to bind to both CD19 and FcγRIIb, inhibiting B cell activity without depleting these cells. The drug is administered via subcutaneous injection.
Zenas expects to report 24-week data from the MoonStone trial in the first quarter of 2026. The company is also conducting trials of obexelimab in IgG4-Related Disease and Systemic Lupus Erythematosus, with results expected around year-end 2025 and mid-2026, respectively.
Multiple sclerosis is a chronic autoimmune disorder affecting approximately 2.9 million people worldwide, with relapsing MS being the most common form of the disease. With the company’s next earnings report due on November 11, 2025, and analysts maintaining a bullish consensus rating of 1.29, investors can track ZBIO’s progress using InvestingPro’s comprehensive financial metrics and real-time updates.
In other recent news, Zenas BioPharma has entered into a significant licensing agreement with InnoCare Pharma, securing global rights to develop and commercialize orelabrutinib, a BTK inhibitor in Phase 3 development for multiple sclerosis. This agreement, valued at over $2 billion, includes upfront and milestone payments of up to $100 million in cash, along with the issuance of up to 7 million shares of Zenas common stock. The deal also expands Zenas’s pipeline with additional autoimmune product candidates, such as a novel oral IL-17AA/AF inhibitor and an oral brain-penetrant TYK2 inhibitor. H.C. Wainwright has maintained its Buy rating on Zenas Biopharma, emphasizing the company’s pipeline expansion.
Meanwhile, Zeta Network Group announced a strategic partnership with SOLV Foundation to enhance its Bitcoin financial initiatives. This partnership will utilize SOLV’s platform, which boasts $2.5 billion in total value locked, to optimize the efficiency of Zeta’s Bitcoin holdings. The arrangement includes depositing Zeta’s Bitcoin assets on SOLV’s platform under a regulated third-party custodian, aiming for transparency and institutional-grade auditability.
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