ZBIO Stock Forecast & Price Target

Zenas BioPharma Inc. is positioned favorably within a significant $3 billion market opportunity in IgG4-related disease, bolstered by the differentiation of its product candidate obexelimab, which offers a novel dual engagement mechanism targeting CD19 and FcyRIIb. The company is well-capitalized with approximately $350 million on its balance sheet, enabling it to sustain operations and invest in ongoing clinical development efforts, including anticipated Phase II results in systemic lupus erythematosus by the first half of 2026. With multiple potential catalyst events expected over the next 18 months, Zenas BioPharma stands to attract heightened investor interest, particularly as obexelimab could demonstrate superior efficacy metrics compared to existing competitors, suggesting a promising growth trajectory.

Zenas BioPharma Inc. reported a substantial net loss of $52.6 million for the fourth quarter of 2024 and a total loss of $157 million for the year, highlighting ongoing financial challenges. The company's heavily negative cash flow combined with the risks associated with the developmental candidate obexelimab—including potential failure in clinical studies and the need for additional financing—places significant pressure on its long-term viability. Furthermore, the company's valuation remains concerning as it is trading below its cash reserves, reflecting investor skepticism regarding the fundamental progress and future potential of its product pipeline.