IPO alert for Zenas BioPharma backed by Bristol-Myers Squibb, aiming to raise funds for drug trials.

From Nasdaq: 2024-09-10 11:40:00

Zenas BioPharma to list shares on NASDAQ under ticker ZBIO, aiming to raise $181-209 million through IPO for drug trials and potential launch. Obexelimab, backed by Bristol-Myers Squibb, targets autoimmune diseases; currently in Phase 2 trials for wAIHA, MS, SLE, & IgG4-RD. Treatment mechanism differentiates from Amgen’s, showing efficacy in Phase 2 study. Market projected to reach $5.3 billion by 2023. Cash position analysis post-IPO indicates 8-year runway for Zenas. Treatment differentiation allows faster B-cell return, reducing infection risk. Competition from other treatments remains a potential challenge in capturing market value.



Read more at Nasdaq: IPO Alert: Bristol-Myers-Backed Pharma Stock Could Gain Traction