12 Best IPO Stocks with Huge Upside Potential

7. Zenas BioPharma Inc. (NASDAQ:ZBIO)

Average Upside Potential: 68.24%

Zenas BioPharma Inc. (NASDAQ:ZBIO) is one of the best IPO stocks with huge upside potential. On June 2, Zenas announced positive results from the Phase 3 INDIGO trial of obexelimab for Immunoglobulin G4-Related Disease. The study met its primary and all key secondary endpoints, demonstrating a 56% reduction in flare risk compared to placebo and a significant decrease in glucocorticoid use and related toxicities.

The findings, presented at the EULAR 2026 Congress and published in the New England Journal of Medicine, highlight the drug’s potential as a first-line therapy. The trial, the largest ever conducted for this disease, showed that over 73% of treated patients remained flare-free through 52 weeks with a safety profile comparable to the placebo.

Following these successful results, Zenas BioPharma Inc. (NASDAQ:ZBIO) submitted a Biologics License Application to the FDA in May. The company continues to advance its clinical pipeline, with additional data expected later this year from its Phase 2 trial for systemic lupus erythematosus.

Zenas BioPharma Inc. (NASDAQ:ZBIO) is a clinical-stage company focused on developing transformative therapies for autoimmune diseases. Their pipeline features late-stage candidates like obexelimab and orelabrutinib, alongside several earlier-stage programs targeting chronic inflammatory conditions.