Zenas BioPharma, Inc.

Zenas BioPharma, Inc.

ZBIO
Zenas BioPharma, Inc.US flagNASDAQ Global Select
26.71
USD
+1.87
- -
1.74BMarket Cap
Zenas BioPharma, Inc.
ZBIO
(NASDAQ Global Select)

Recent

price

26.71

P/E

ratio

- -

div

yld

- -

ROIC.AI

2022
2023
2024
2025
TTM
FRC
- -
2.87
0.38
0.22
0.02
Revenue per Share
-9.26
-2.13
-11.89
-8.44
-9.06
Basic EPS, GAAP
-5.27
-1.75
-9.08
-4.64
-4.88
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
Dividend per Share
-4.83
-5.67
7.48
4.44
3.9
Book Value per Share
-4.83
-5.67
7.48
4.44
3.9
Tangible Book Value per Share
13
17
13
45
53
Basic Weighted Avg Shares
- -
50
5
10
1
Sales/Revenue/Turnover
- -
-54.29
-3,277.76
-2,113.85
-27,390.1
Operating Margin (%)
- -
- -
- -
- -
- -
Depreciation Expense
-119
-37
-157
-378
-484
Net Income, GAAP
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
-74.25
-3,139.76
-3,777.37
-48,438.4
Profit Margin (%)
42
37
299
289
588
Working Capital
1
21
- -
- -
297
LT Debt
-192
-226
312
242
247
Total Equity
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
-136.22
-199.04
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1
1
1
LT Borrowings
- -
266
297
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
54
62
63
Market Capitalization
1,978
1,220
1,607

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
351
730
654
Cash, Cash Equivalents & STI
343
717
643
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
63
61
66
Payables & Accruals
48
55
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
- -
1
- -
- -
- -

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
-8.44
2026
-1.46
-1.77
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

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

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

  • Zenas BioPharma Announces Upcoming Presentations of Orelabrutinib Data in Relapsing Remitting Multiple Sclerosis, Clinical Trial Designs in Progressive Multiple Sclerosis and Other Multiple Sclerosis Portfolio Data at MSToronto2026

  • Zenas BioPharma to Host Virtual R&D Event

  • Zenas BioPharma: Obexelimab Is Being Graded On The Wrong Curve

  • Zenas BioPharma, Inc. (ZBIO) Discusses Obexelimab Prelaunch Strategy and Commercial Opportunity in IgG4-Related Disease Transcript

  • Zenas BioPharma Announces Upcoming Presentations of Obexelimab Data in IgG4-Related Disease at the IgG4ward! 6th International Symposium on IgG4-Related Disease and ACR Convergence 2026

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

  • Zenas BioPharma, Inc. (ZBIO) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

  • Analyzing United Therapeutics (NASDAQ:UTHR) and Zenas BioPharma (NASDAQ:ZBIO)

  • Zenas BioPharma, Inc. (ZBIO) Presents at Citigroup's Biopharma Back to School Summit 2026 Transcript

  • Zenas BioPharma to Host Obexelimab IgG4-RD Investor Event

  • Zenas BioPharma to Present at Upcoming Healthcare Investor Conferences

  • Bank of America Corp DE Purchases 341,187 Shares of Zenas BioPharma, Inc. $ZBIO

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

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

  • Financial Review: Arcturus Therapeutics (NASDAQ:ARCT) vs. Zenas BioPharma (NASDAQ:ZBIO)

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

  • Zenas BioPharma: Obexelimab Could Build An Autoimmune Franchise

  • Zenas BioPharma's CEO Purchased 60,000 Company Shares. Here's a Deeper Look at the Transaction.

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