Zenas BioPharma, Inc.

Zenas BioPharma, Inc.

ZBIO
Zenas BioPharma, Inc.US flagNASDAQ Global Select
17.40
USD
+0.27
- -
776.79MMarket Cap
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
- -
2.87
0.38
- -
- -
Basic EPS, GAAP
-9.26
-2.13
-11.89
- -
-8.83
Free Cash Flow per Basic Share
-5.27
-1.75
-9.08
- -
-4.99
Dividend per Share
- -
- -
- -
- -
- -
Book Value per Share
-15.01
-13.23
-29.35
- -
-17.57
Tangible Book Value per Share
-14.93
-12.96
23.67
- -
6.97
Basic Weighted Avg Shares
13
17
13
- -
48
Sales/Revenue/Turnover
- -
50
5
10
- -
Operating Margin (%)
- -
-54.29
-3,277.76
-2,113.85
- -
Depreciation Expense
- -
- -
- -
- -
- -
Net Income, GAAP
-119
-37
-157
-378
-425
Effective Tax Rate (%)
- -
- -
- -
- -
- -
Profit Margin (%)
- -
-74.25
-3,139.76
-3,777.37
- -
Working Capital
42
37
299
289
669
LT Debt
1
21
- -
- -
266
Total Equity
-192
-226
312
242
336
Return on Invested Capital (%)
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1
1
1
LT Borrowings
- -
- -
266
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
42
54
62
Market Capitalization
931
1,623
942

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
297
351
730
Cash, Cash Equivalents & STI
291
343
717
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
52
63
61
Payables & Accruals
43
48
55
ST Debt
1
1
1
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
-22.5%
Free Cash Flow
- -
- -
73.07%
Net Income, GAAP
- -
- -
140.62%
Sales/Revenue/Turnover
- -
- -
100%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
5
5
2025
10
- -
- -
- -
10
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.7
-0.95
-5.02
- -
-11.89
2025
-0.8
-1.25
-1.22
-4.54
- -
2026
-1.46
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Leon Oliver Moulder Jr.
Full Time Employees
130
Sector
Healthcare
Industry
Biotechnology
Address
North Building Waltham MA United States of America 02451
IPO Date
Sep 13, 2024
Business
Zenas BioPharma, Inc. (Nasdaq: ZBIO) is a clinical-stage global biopharmaceutical company focused on the development and commercialization of immunology-based therapies for patients with autoimmune diseases. The company advances a pipeline featuring its lead candidate obexelimab, a bifunctional monoclonal antibody that binds CD19 and FcγRIIb to suppress B cell activity without depletion in indications including immunoglobulin G4-related disease (IgG4-RD) in the ongoing Phase 3 INDIGO trial, relapsing multiple sclerosis (RMS) with Phase 2 MoonStone data expected in Q1 2026, and systemic lupus erythematosus (SLE) in the Phase 2 SunStone trial; orelabrutinib, a CNS-penetrant oral BTK inhibitor licensed globally ex-oncology from InnoCare Pharma in October 2025 for primary progressive multiple sclerosis (PPMS) in a Phase 3 trial and secondary progressive MS (SPMS) with initiation planned for Q1 2026; and earlier programs such as ZB002 (anti-TNFα monoclonal antibody), ZB004 (CTLA-4-Ig fusion protein), ZB001 (anti-IGF-1R monoclonal antibody, licensed to Zai Lab in Greater China), ZB021, and ZB022. Founded in 2020 and headquartered in Waltham, Massachusetts, Zenas BioPharma conducts global clinical trials across approximately 20 countries and targets unmet needs in immune-mediated inflammatory diseases for patients worldwide. Recent developments include a transformative October 2025 license agreement with InnoCare Pharma granting global rights to orelabrutinib backed by a $120 million private placement funding operations into Q4 2026, a September 2025 funding deal with Royalty Pharma for up to $300 million in obexelimab royalties to support late-stage development and commercialization, completion of enrollment in the IgG4-RD Phase 3 trial with topline data anticipated by year-end 2025, and an expanded Series C financing of $458 million in 2024 to fuel growth.

Company News

APIChat
  • Zenas BioPharma Announces Data from the Registrational Phase 3 INDIGO Trial of Obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD), Simultaneously Presented at the EULAR 2026 Congress and Published in the New England Journal of Medicine

  • Zenas BioPharma Announces Data from the Registrational Phase 3 INDIGO Trial of Obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD), Simultaneously Presented at the EULAR 2026 Congress and Published in the New England Journal of Medicine

  • Zenas BioPharma Announces Submission of Biologics License Application (BLA) to U.S. FDA for Obexelimab in IgG4-RD

  • Zenas BioPharma Announces Submission of Biologics License Application (BLA) to U.S. FDA for Obexelimab in IgG4-RD

  • Zenas BioPharma Announces Upcoming Presentation of Results from Phase 3 INDIGO Registrational Trial of Obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD) at EULAR 2026 Congress

  • Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

  • Zenas BioPharma Announces First Subject Dosed in Phase 1 Clinical Trial of ZB021, a Novel, Potentially Best-in-Class Oral IL-17AA/AF Inhibitor

  • Zenas BioPharma Reports First Quarter 2026 Financial Results and Provides Corporate Update

  • Zenas: 'Strong Buy' On Obexelimab Enhancement And Expected SLE Data Q4 2026

  • Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

  • Zenas BioPharma (NASDAQ:ZBIO) Shares Up 7.6% on Insider Buying Activity

  • Zenas BioPharma (NASDAQ:ZBIO) versus Twist Bioscience (NASDAQ:TWST) Critical Analysis

  • Zenas BioPharma Announces Pricing of Concurrent Public Offerings of 2.50% Convertible Senior Notes Due 2032 and Common Stock with Aggregate Gross Proceeds of $300.0 Million

  • Zenas BioPharma Announces Proposed Concurrent Public Offerings of Convertible Senior Notes Due 2032 and Common Stock

  • Zenas BioPharma, Inc. (NASDAQ:ZBIO) Receives Average Recommendation of “Hold” from Analysts

  • ENAVATE's Zenas Bio Pharma add Is a Footnote — The Obexelimab Pipeline Is What to Watch

  • Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

  • Zenas BioPharma Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Corporate Update

  • Zenas BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

  • SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Zenas BioPharma, Inc. (NASDAQ: ZBIO)