Zenas BioPharma, Inc. (ZBIO)
Zenas BioPharma, Inc. functions as a clinical-stage biopharmaceutical firm, concentrating on the creation and market introduction of innovative, immunology-based treatments. The company's primary investigational therapy is obexelimab, a distinctive bifunctional monoclonal antibody intended to address multiple diseases such as immunoglobulin G4-related disease, multiple sclerosis, systemic lupus erythematosus, and warm autoimmune hemolytic anemia. Its developmental portfolio also features ZB002, an anti-TNFa monoclonal antibody; ZB004, a cytotoxic T-lymphocyte-associated antigen 4-immunoglobulin fusion; ZB001, an anti-insulin-like growth factor-1 receptor monoclonal antibody; and ZB005, an anti-active complement component 1s monoclonal antibody. Established in 2019, the entity was formerly recognized as Zenas BioPharma (Cayman) Limited before adopting its current name, Zenas BioPharma, Inc., in August 2023. Its headquarters are located in Waltham, Massachusetts.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Zenas BioPharma, Inc.
NASDAQ:ZBIOHealthcare · Biotechnology
-1.29%$28.39
AH$28.39+0.00%vs close
Mkt Cap$1.85B
Float31.16M
O/S65.18M
Vol
$ Vol
RVOL
Inst Own93.7%
SI40.2%
Earnings
Dilution
Financials Summary
Revenue$10M
Net Income-$377.74M
Total Assets$383.64M
Free Cash Flow-$172.35M
Debt & Equity
Debt 25%
Equity 75%
Total Debt$79.96M
Total Equity$242.14M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:2Reverse splitMay 24, 20182 shares → 1
Balance Sheet Details
Assets$383.64M
Liabilities$141.5M
Accounts Receivable$0
Accounts Payable$7.11M
Inventory$0
PP&E (Net)$1.39M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Revenue | $10M | $5M | $50M | $0 |
| YoY Growth | 100.0% | -90.0% | - | - |
| Cost of Revenue | $0 | $139.14M | $0 | $61.69M |
| Gross Profit | $10M | -$134.14M | $50M | -$61.69M |
| Gross Margin | 100.0% | -2682.8% | 100.0% | - |
| Research and Development | $168.06M | $139.14M | $60.03M | $62.69M |
| Selling, General, and Administrative | $53.32M | $29.75M | $17.11M | $13.51M |
| Other | $0 | -$139.14M | $10M | -$61.69M |
| Total Operating Expenses | $221.38M | $29.75M | $87.15M | $14.51M |
| Operating Income (EBIT) | -$211.38M | -$163.89M | -$37.15M | -$76.2M |
| Operating Margin | -2113.8% | -3277.8% | -74.3% | - |
| Interest Expense | $7.33M | $0 | $0 | $0 |
| Interest Income | $12.15M | $0 | $0 | $0 |
| Other Income (Expense) | -$166.43M | $7.33M | $324K | -$43.08M |
| Income Before Tax (EBT) | -$377.82M | -$156.56M | -$36.82M | -$119.28M |
| Income Tax Expense | -$79K | $429K | $301K | $0 |
| Net Income | -$377.74M | -$156.99M | -$37.12M | -$119.28M |
| Net Income Margin | -3777.4% | -3139.8% | -74.2% | - |
| Supplementary Data | ||||
| EPS | -8.44 | -3.76 | -0.97 | -3.11 |
| Diluted EPS | -8.44 | -3.76 | -0.97 | -3.11 |
| Weighted Average OS | 44.73M | 41.79M | 38.32M | 38.32M |
| EBITDA | -$370.43M | -$156.42M | -$27.03M | -$75.12M |
| EBITDA Margin | -3704.3% | -3128.4% | -54.1% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalents | $110.64M | $319.74M | $56.86M | $67.21M |
| Short-Term Investments | $232.55M | $31.02M | $0 | $0 |
| Cash and Short-Term Investments | $343.19M | $350.77M | $56.86M | $67.21M |
| Accounts Receivable | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 |
| Other Current Assets | $7.98M | $5.16M | $2.95M | $1.24M |
| Total Current Assets | $351.17M | $355.92M | $59.8M | $68.44M |
| Long-Term Assets | ||||
| Property, Plant & Equipment Net | $1.39M | $1.19M | $1.01M | $1.8M |
| Goodwill | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 |
| Long-Term Investments | $17.27M | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $13.81M | $12.86M | $7.36M | $4.33M |
| Total Long-Term Assets | $32.47M | $14.04M | $8.38M | $6.13M |
| Other Assets | $0 | $0 | $0 | $0 |
| Total Assets | $383.64M | $369.97M | $68.18M | $74.58M |
| Liabilities | ||||
| Current Liabilities | ||||
| Accounts Payable | $7.11M | $17.14M | $5.4M | $5.82M |
| Short-Term Debt | $1.11M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $211K | $301K | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $41.23M | $8.31M | $5.12M | $4.33M |
| Total Current Liabilities | $62.65M | $57.29M | $23.26M | $25.97M |
| Long-Term Liabilities | ||||
| Long-Term Debt | $78.64M | $0 | $20.3M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $250.09M | $240.09M |
| Total Long-Term Liabilities | $78.85M | $218K | $270.64M | $240.9M |
| Other Liabilities | $0 | $0 | $0 | $0 |
| Total Liabilities | $141.5M | $57.51M | $293.9M | $266.87M |
| Stockholders' Equity | ||||
| Preferred Stock | $0 | $0 | $0 | $0 |
| Common Stock | $5K | $4K | $0 | $0 |
| Retained Earnings | -$765.13M | -$387.39M | -$230.4M | -$193.28M |
| Comprehensive Income & Other | -$64K | $194K | $37K | -$41K |
| Other Stockholders' Equity | $1.01B | $699.85M | $4.68M | $993K |
| Total Equity | $242.14M | $312.46M | -$225.72M | -$192.29M |
| Minority Interest | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $383.64M | $369.97M | $68.18M | $74.58M |
| Supplementary Data | ||||
| Total Debt | $79.96M | $1M | $21.11M | $1.53M |
| Net Debt | -$30.68M | -$318.74M | -$35.74M | -$65.68M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Operating Activities | ||||
| Net Income | -$377.74M | -$156.99M | -$37.12M | -$119.28M |
| Depreciation & Amortization | $56K | $137K | $113K | $78K |
| Deferred Income Tax | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $26.35M | $10.82M | $3.5M | $737K |
| Changes in Working Capital: | ||||
| Accounts Receivable | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 |
| Accounts Payable | -$10.04M | $11.74M | -$418K | $1.09M |
| Other Working Capital | $10.99M | $13.69M | -$7.62M | $6.88M |
| Total Working Capital Change | $951K | $25.43M | -$8.04M | $7.97M |
| Other Non-Cash Items | $178.05M | $925K | $11.03M | $44.85M |
| Net Cash from Operating | -$172.33M | -$119.67M | -$30.53M | -$65.65M |
| Investing Activities | ||||
| Capital Expenditures | -$18K | -$131K | -$17K | -$198K |
| Acquisitions | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$417.75M | -$36.42M | $0 | $0 |
| Sales of Investments | $200.89M | $6M | $0 | $0 |
| Other Investing Activities | -$35M | $0 | $0 | -$2M |
| Net Cash from Investing | -$251.89M | -$30.55M | -$17K | -$2.2M |
| Financing Activities | ||||
| Debt Repaid | - | - | -$20M | - |
| Common Stock Issuance | $152.94M | $240.64M | $116K | $59.39M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 |
| Other Financing Activities | $62.34M | -$6.06M | $0 | $0 |
| Net Cash from Financing | $215.28M | $412.96M | $20.12M | $59.39M |
| Forex Effect | -$252K | $157K | $78K | -$41K |
| Net Change in Cash | -$209.19M | $262.89M | -$10.35M | -$8.5M |
| Supplementary Data | ||||
| Operating Cash Flow | -$172.33M | -$119.67M | -$30.53M | -$65.65M |
| Capital Expenditure | -$18K | -$131K | -$17K | -$2.2M |
| Free Cash Flow | -$172.35M | -$119.81M | -$30.55M | -$67.85M |
| Cash at Beginning | $319.83M | $56.94M | $67.3M | $75.8M |
| Cash at End | $110.64M | $319.83M | $56.94M | $67.3M |