Core Viewpoint - Zenas BioPharma, Inc. is facing a class action lawsuit due to allegations of misleading information in its IPO registration statement, particularly regarding the funding timeline for its operations [1][3][4]. Company Overview - Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing and commercializing immunology-based therapies [2]. IPO Details - The company conducted its IPO on September 13, 2024, selling over 13 million shares at a price of $17.00 per share [2]. Allegations of Misleading Information - The class action lawsuit claims that the IPO's offering documents were materially false and misleading, specifically overstating the duration Zenas BioPharma could fund its operations with existing cash and expected net proceeds from the IPO [3]. - It was later revealed that Zenas BioPharma could only fund its operations for 12 months instead of the 24 months previously stated in the IPO registration statement [4]. Stock Performance - As of April 15, 2025, Zenas BioPharma's stock closed at $8.72, which is 48.7% lower than the IPO price [4]. Legal Process - Investors who purchased Zenas BioPharma securities can seek appointment as lead plaintiff in the class action lawsuit, which allows them to represent the interests of all class members [5]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6].
ZBIO INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Zenas BioPharma, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit