Zenas BioPharma, Inc.

Case Overview
39 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 06/16/2025 |
Status: | Status: Investigating |
Company Name: | Company Name: Zenas BioPharma, Inc. |
Court: | Court: District of Massachusetts |
Case Number: | Case Number: 1:25cv10988 |
Class Period: | Class Period: 09/10/2024 - 04/16/2025 |
Ticker: | Ticker: ZBIO |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Zenas BioPharma, Inc. (“Zenas” or the “Company”) (NASDAQ:ZBIO) securities during the period from September 10, 2024, through April 16, 2025 (“the Class Period”). Investors have until June 16, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On or about August 22, 2024, Zenas BioPharma filed with the SEC a Registration Statement on Form S-1, which in combination with a subsequent amendment on Form S-1/A, and which was declared effective by the SEC on September 12, 2024, would be used for the IPO.
On September 13, 2024, Zenas BioPharma filed with the SEC its final prospectus for the IPO on Form 424B4 (the “Prospectus”), which forms part of the Registration Statement. In the IPO, Zenas BioPharma sold 13,235,294 shares at $17.00 per share. Under applicable SEC rules and regulations, the Registration Statement was required to disclose known trends, events or uncertainties that were having, and were reasonably likely to have, an impact on the Company’s continuing operations. The Prospectus stated the following: Based upon our current operating plan, we believe that the expected net proceeds from this offering, together without existing cash, will be sufficient to fund our operating expenses and capital expenditure requirements for at least the next 24 months.
On November 12, 2024, shortly after the IPO, the Company filed with the SEC its quarterly report on Form 10-Q for the period ended September 30, 2024 (the “3Q24 Report”). In pertinent part, the 3Q24 Report stated that the Company could fund its operations for the following twelve months, not twenty-four, as it had stated in the Registration Statement.
Since the IPO, and as a result of the disclosure of material adverse facts omitted from Zenas BioPharma’s Registration Statement, Zenas BioPharma’s share price has fallen substantially below its IPO price.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that Zenas BioPharma materially overstated the amount of time it would be able to fund its operations using existing cash and expected net proceeds from the IPO.
On or about August 22, 2024, Zenas BioPharma filed with the SEC a Registration Statement on Form S-1, which in combination with a subsequent amendment on Form S-1/A, and which was declared effective by the SEC on September 12, 2024, would be used for the IPO.
On September 13, 2024, Zenas BioPharma filed with the SEC its final prospectus for the IPO on Form 424B4 (the “Prospectus”), which forms part of the Registration Statement. In the IPO, Zenas BioPharma sold 13,235,294 shares at $17.00 per share. Under applicable SEC rules and regulations, the Registration Statement was required to disclose known trends, events or uncertainties that were having, and were reasonably likely to have, an impact on the Company’s continuing operations. The Prospectus stated the following: Based upon our current operating plan, we believe that the expected net proceeds from this offering, together without existing cash, will be sufficient to fund our operating expenses and capital expenditure requirements for at least the next 24 months.
On November 12, 2024, shortly after the IPO, the Company filed with the SEC its quarterly report on Form 10-Q for the period ended September 30, 2024 (the “3Q24 Report”). In pertinent part, the 3Q24 Report stated that the Company could fund its operations for the following twelve months, not twenty-four, as it had stated in the Registration Statement.
Since the IPO, and as a result of the disclosure of material adverse facts omitted from Zenas BioPharma’s Registration Statement, Zenas BioPharma’s share price has fallen substantially below its IPO price.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that Zenas BioPharma materially overstated the amount of time it would be able to fund its operations using existing cash and expected net proceeds from the IPO.