NASDAQ Biotech Executives Engage in Multi-Million Dollar Stock Buyback

Nasdaq-listed biopharma Zenas BioPharma, Inc. (NASDAQ: ZBIO) insiders Patricia L. Allen and Hongbo Lu each purchased additional common shares in open-market transactions between February 11 and 13. Allen, who previously held no shares, acquired approximately 20,000 shares—worth several hundred thousand dollars, or several hundred million Korean won. Lu, through a NEXTBio-affiliated investment fund, increased her indirect holding by about 26,000 shares, valued at roughly $580,000 (approximately KRW 760 million).

On January 5, the company announced positive top-line results from its Phase 3 INDIGO registrational trial of obexelimab in IgG4-related disease, meeting the trial’s primary endpoint. Meanwhile, on February 12, U.S. law firm Pomerantz disclosed it has opened an investigation into potential securities law violations by Zenas BioPharma and certain executives in connection with investor losses and the possibility of a class-action lawsuit.

Zenas BioPharma is a U.S.-based, clinical-stage biopharmaceutical company developing pipeline candidates that target autoimmune and inflammatory disorders. Its lead asset, obexelimab, is a dual-function monoclonal antibody designed to modulate immune cell activity without depletion by simultaneously engaging the B-cell antigen CD19 and the inhibitory FcγRIIb receptor. Obexelimab is currently in clinical trials for IgG4-related disease and relapsing multiple sclerosis.