Zenas Prepares For INDIGO Phase 3 Readout - Reinstating Buy Rating

2025-12-15 04:18:58 ET

Thesis

Zenas BioPharma ( ZBIO ) stock has seen a lot of positive momentum over the past year. Year to date, the stock is up 395% and has heavily outperformed the S&P. Now, the company obviously has two late-stage assets in obexelimab and orelabrutinib. I am covering Zenas again at this stage, as we are expecting a readout of the INDIGO Phase 3 trial sometime before the end of the year. I'm expecting this to be the next major catalyst for the stock, and I'm reinstating my buy rating before then. I last covered the stock in mid-October. Back then, I felt that obexelimab and orelabrutinib should continue to serve as major catalysts and build momentum into 2026. Since then, shares are about 54 and have shown quite positive momentum all throughout the month and now find themselves trading in the $45 range....

Read the full article on Seeking Alpha

For further details see: