Zenas Biopharma reported that obexelimab reduced the cumulative number of new gadolinium‑enhancing brain lesions by about 95% over 12 weeks in a Phase 2 trial in relapsing multiple sclerosis. The MoonStone study met its primary endpoint at Weeks 8 and 12 with statistically significant suppression of MRI lesion activity. Zenas described near‑complete lesion suppression by Week 8 that was sustained to Week 12, and said the safety profile was consistent with prior data, noting infections and hypersensitivity events. The result supports obexelimab’s development as a subcutaneous, self‑administered B‑cell‑targeting option across autoimmune indications. The market response was immediate: the company’s shares rose and prior royalty financing arrangements drew renewed investor attention. Zenas plans to report 24‑week data and expects additional readouts from related autoimmune studies in the coming quarters.