Wedbush bullish on Zenas BioPharma, initiates with an Outperform

As previously reported, Wedbush initiated coverage of Zenas BioPharma (ZBIO) with an Outperform rating and $35 price target The firm notes its lead candidate obexelimab is a CD19 mAb that suppresses B cells, rather than eliminating them, to maintain immune protection against infections. Wedbush believes this differentiating safety feature will be especially valuable in target indications of IgG4 related disease, multiple sclerosis, and systemic lupus erythematosus, where long-term safety and immune protection will play a consideration in treatment choice. Proof-of-concept efficacy in IgG4-RD and SLE de-risks current programs, and further expansion opportunities, adds the firm.