Zenas Biopharma reported that obexelimab produced a 95% reduction in new gadolinium‑enhancing MRI lesions at Weeks 8–12 in its midstage MoonStone relapsing multiple sclerosis study. The bifunctional monoclonal antibody met its primary endpoint and delivered near‑complete lesion suppression in the treated cohort. Zenas said the safety profile was consistent with prior studies and highlighted the drug’s subcutaneous dosing and tolerability. The readout follows a royalty‑backed financing from Royalty Pharma and has boosted market enthusiasm for the asset. Company leadership signaled plans to report 24‑week data and to advance obexelimab into broader development across autoimmune indications if subsequent analyses confirm durable benefit.