Core Viewpoint - A securities class action lawsuit has been filed against Zenas BioPharma, alleging that the company made false and misleading statements regarding its financial stability during its IPO [1][2]. Group 1: Lawsuit Details - The lawsuit is on behalf of all individuals or entities that purchased Zenas BioPharma securities during the IPO on or around September 13, 2024 [1]. - The complaint claims that the Registration Statement contained misleading information about the company's ability to fund its operations [2]. Group 2: Financial Misrepresentation - It is alleged that Zenas BioPharma overstated the duration it could fund its operations using existing cash and expected IPO proceeds [2]. - The company's quarterly report filed on November 12, 2024, indicated it could fund operations for only twelve months, contrary to the twenty-four months stated in the Registration Statement [3]. Group 3: Impact on Share Price - Following the disclosure of omitted material facts, Zenas BioPharma's share price has significantly declined, closing at $8.72 on April 15, 2025, which is 48.7% below the IPO price [3].
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Zenas BioPharma, Inc. (ZBIO)