03:47 PM EDT, 08/22/2024 (MT Newswires) -- Zenas BioPharma (ZBIO) said Thursday that it launched an initial public offering of its common stock.

The company applied to list its shares on the Nasdaq Global Market under the symbol "ZBIO."

Zenas said it plans to use the net proceeds from the IPO to advance the clinical development of obexelimab and the remainder for working capital and other general corporate purposes.

The company did not disclose the pricing range for the IPO or the size of the offering.