Zenas BioPharma Seen Attractive Ahead of IgG4-RD Phase 3 Update, Wedbush Says

MT Newswires Live2025-12-23

Zenas BioPharma (ZBIO) shares are seen as attractive ahead of the Phase 3 topline results for obexelimab, expected in the week of Jan. 5 for the treatment of IgG4-RD autoimmune disease, Wedbush said Monday in a report.

The early January timing is most likely, offering clarity after the holiday period and ahead of the JP Morgan Healthcare Conference on Jan. 12-15, Wedbush said.

Zenas shares rose 8.3% in recent Monday trading. Wedbush reiterated its outperform rating on the stock with a $45 price target.

Obexelimab, if approved, is expected to reach about 35% market share as a second entrant in IgG4-related disease, the report said.

IgG4-RD is a chronic autoimmune condition that can cause inflammation and organ damage across multiple systems. Obexelimab "has a less harsh mechanism of action," and "key differentiators include safety, convenience, and ability to pause treatment," Wedbush said.

Wedbush projects a US launch in mid-2027 and a European launch in early 2028, with estimated global sales of $8.5 million in 2027, $100 million in 2028, $270 million in 2029, and $515 million in 2030.

Price: 39.14, Change: +2.99, Percent Change: +8.26

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