Zura Bio announces Q3 2026 results

Item 2.02. Results of Operations and Financial Condition.

On October 27, 2026, Zura Bio Limited (the "Company") issued a press release announcing its third quarter 2026 financial results.¹ A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.²

The information furnished under this Item 2.02 (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934³, as amended (the "Exchange Act"), or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"). The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission (the "SEC") made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 7.01. Regulation FD Disclosure.

On October 27, 2026, the Company provided an updated corporate presentation that may be used in connection with upcoming presentations at conferences and investor meetings.⁴ The full text of the Company's corporate presentation is filed as Exhibit 99.2 hereto⁵, and incorporated herein by reference, and may also be accessed through the "News & Events" section of the Company's website at investors.zurabio.com.

The information furnished under this Item 7.01 (including Exhibit 99.2) shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act. The information in this Item 7.01 (including Exhibit 99.2) shall not be deemed incorporated by reference into any other filing with the SEC made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1⁶

Press Release dated October 27 , 2026⁶

99.2⁶

Corporate Presentation, dated October 27 , 2026⁶

104 Cover Page Interactive Data File⁶ (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ZURA BIO LIMITED

Date: October 27, 2026 By: /s/ Kim Davis

Kim Davis

Chief Operating Officer, Chief Legal Officer and Corporate Secretary

Zura Bio Reports Third Quarter 2026 Financial Results and Recent Corporate Updates

• NEXUS-PMR, a Phase 2 study evaluating tibulizumab in polymyalgia rheumatica (PMR), remains on track to initiate by year-end 2026¹³

• Cash and cash equivalents of $187.7 million as of September 30, 2026, which is expected to fund planned operations through at least the end of 2028

HENDERSON, Nev.--(BUSINESS WIRE)--October 27, 2026-- Zura Bio Limited (Nasdaq: ZURA) ("Zura"), a clinical‑stage biotechnology company developing novel and differentiated medicines to meaningfully improve the lives of patients with serious and debilitating autoimmune and inflammatory diseases, today announced financial results for the third quarter ended September 30, 2026, and provided recent corporate updates.

"Our team continues to execute efficiently on our development plan for tibulizumab, and we are excited as we enter this data-rich period for the company. We are on track to report topline results from our TibuSHIELD study in HS later this quarter, followed by topline results from our TibuSURE study in SSc in the first half of 2027," said Sandeep Kulkarni, M.D., co-founder and Chief Executive Officer of Zura. "We continue to believe deeply in tibulizumab's potential to address complex immune biology and unmet needs across indications, including in PMR, where we will be starting the NEXUS-PMR study by end of year. With cash runway sufficient to deliver results from all three studies, Zura is in a great position to deliver on tibulizumab's unique potential."

PROGRAM UPDATES

Tibulizumab (ZB‑106)

Both ongoing Phase 2 studies of tibulizumab, a bispecific antibody designed to neutralize interleukin-17 (IL-17) and B-cell activating factor (BAFF), are fully enrolled and progressing toward topline data, and Zura also remains on track to initiate a Phase 2 study in PMR, the third indication for tibulizumab, by year-end 2026.

• TibuSHIELD (HS): The Phase 2 clinical study evaluating tibulizumab in adults with hidradenitis suppurativa completed enrollment in June 2026 with 247 participants, exceeding its target. Topline data remains on track for the fourth quarter of 2026¹¹ and will include the primary endpoint, percent change from baseline in total abscess and inflammatory nodule count at Week 16, as well as the proportion of participants achieving HiSCR50 or HiSCR75.

• TibuSURE (SSc): The Phase 2 clinical study evaluating tibulizumab in adults with early diffuse cutaneous systemic sclerosis completed enrollment in July 2026 with 91 participants, exceeding its target. Topline data remains on track for the first half of 2027¹² and will include the primary endpoint, change from baseline in modified Rodnan Skin Score (mRSS) at Week 24, as well as measures of lung involvement.

• NEXUS-PMR (PMR): The Phase 2 clinical study evaluating tibulizumab in adults with polymyalgia rheumatica, an inflammatory disease in which most patients remain dependent on long-term glucocorticoids, has been cleared by the U.S. Food and Drug Administration (FDA) to proceed under an Investigational New Drug application and remains on track to initiate by year-end 2026.

Tibulizumab is an investigational compound and has not been approved for marketing by the FDA or any other regulatory authority.

Additional Clinical-Stage Product Candidates

In addition to tibulizumab, Zura is continuing its evaluation of potential development approaches for torudokimab (ZB‑880) and crebankitug (ZB‑168), informed by current clinical and translational evidence and ongoing assessment of the evolving competitive landscape.

THIRD QUARTER 2026 FINANCIAL RESULTS

Cash Position

As of September 30, 2026, Zura had cash and cash equivalents of $187.7 million.⁷ Zura expects that its existing cash and cash equivalents are sufficient to support planned operations through at least the end of 2028.⁸

Research and Development (R&D) Expenses

R&D expenses were $19.5 million for the third quarter of 2026, compared to $11.9 million for the same period in 2025.⁹ The increase was primarily driven by t h e continued execution of Zura's Phase 2 tibulizumab clinical programs as well as start-up activities for NEXUS-PMR.

General and Administrative (G&A) Expenses

G&A expenses were $9.3 million for the third quarter of 2026, compared to $7.6 million for the same period in 2025.⁹ The increase was primarily due to higher professional fees.

Net loss for the third quarter of 2026 was $25.8 million, or $0.20 per share, compared to $18.0 million, or $0.21 per share, for the same period in 2025.¹⁰

ABOUT ZURA

Zura is a clinical-stage, multi-asset immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases with unmet need. Zura's pipeline includes product candidates designed to target key mechanisms of immune system imbalance, with the goal of improving efficacy, safety, and dosing convenience for patients.

Zura's lead product candidate, tibulizumab (ZB-106), is being evaluated in two Phase 2 clinical studies in adults: TibuSHIELD, a study in hidra