INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Zenas BioPharma, Inc. (NASDAQ: ZBIO); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel

/EIN News/ -- SAN DIEGO, April 24, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of persons who purchased or otherwise acquired Zenas BioPharma, Inc. (NASDAQ: ZBIO) (“Zenas” or the “Company”) securities pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Zenas’ initial public offering held on September 13, 2024 (the “IPO”), charging the Company, certain senior executives and directors, and the underwriters of the IPO with violations of the federal securities laws (collectively, “Defendants”).

Zenas investors have until June 16, 2025 to seek appointment as lead plaintiff of the Zenas class action lawsuit.

If you purchased or acquired Zenas securities pursuant and/or traceable to the Registration Statement in connection with the IPO, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/zenas-biopharma/.

You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.

Case Allegations

Zenas is a clinical stage global pharmaceutical company that develops and commercializes immune-based therapies for patients with autoimmune diseases.

The Zenas lawsuit alleges that the Registration Statement in connection with the IPO contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading. Specifically, the Registration Statement contained false and/or misleading statements and/or failed to disclose that: (1) Zenas materially overstated the amount of time that it would be able to fund its operations using existing cash and expected net proceeds from the IPO; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times and negligently prepared. For example, the Registration Statement stated that “[b]ased upon our current operating plan, we believe that the expected net proceeds from this offering, together with our existing cash, will be sufficient to fund our operating expenses and capital expenditure requirements for at least the next 24 months.”

The truth emerged on November 12, 2024, when Zenas filed with the U.S. Securities and Exchange Commission its quarterly report on Form 10-Q for its third quarter of fiscal year 2024. In relevant part, Zenas’ quarterly report stated that “[t]he Company expects that its existing cash, cash equivalents and investments of $386.8 million as of September 30, 2024 will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months . . . The Company will need additional financing to support its continuing operations and to pursue its growth strategy.”

As a result of these disclosures, the price of Zenas’ common stock has significantly declined from its IPO price of $17.00 per share.

On the date the Zenas lawsuit was filed, Zenas stock closed at $8.33, representing a 49% decline from the IPO price.

About DiCello Levitt

At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.

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Media Contact

Amy Coker
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San Diego, CA 92121
619-963-2426
investors@dicellolevitt.com