Zenas BioPharma, Inc. ZBIO
We are a clinical stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative immunology-based therapies for patients in need. With the evolving understanding
of the pathogenesis of autoimmune diseases, along with the expansion of promising immunology-based pharmacologic targets, we are building an I&I focused biopharmaceutical company. Our core business strategy combines disciplined product candidate acquisition with strategic deployment of internal expertise and effective use of external resources. We leverage our experienced executive management team and our established networks throughout the biopharmaceutical industry to identify, acquire and develop product candidates that we believe can provide superior clinical benefits to patients living with autoimmune diseases.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $10.0M | $5.0M | $50.0M | — |
| R&D | $168.1M | $139.1M | $60.0M | — |
| SG&A | $53.3M | $29.7M | $17.1M | — |
| Total operating expenses | $393.1M | $168.9M | $87.1M | — |
| Operating income | -$383.1M | -$163.9M | -$37.1M | — |
| Interest expense | $7.3M | — | — | — |
| Pre-tax income | -$377.8M | -$156.6M | -$36.8M | — |
| Income tax | $79.0K | $429.0K | $301.0K | — |
| Net income | -$377.7M | -$157.0M | -$37.1M | — |
| EPS, basic | -8.44 | -11.89 | -24.25 | — |
| EPS, diluted | -8.44 | -11.89 | -24.25 | — |
| Shares, diluted (wtd. avg.) | 44.7M | 13.2M | 1.5M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $110.6M | $319.7M | $56.9M | $67.3M |
| Short-term investments | $232.6M | $31.0M | — | — |
| Total current assets | $351.2M | $355.9M | $59.8M | — |
| Property, plant and equipment | $34.0K | $185.0K | $193.0K | — |
| Total assets | $383.6M | $370.0M | $68.2M | — |
| Accounts payable | $7.1M | $17.1M | $5.4M | — |
| Total current liabilities | $62.6M | $57.3M | $23.3M | — |
| Long-term debt | $78.6M | — | — | — |
| Total liabilities | $141.5M | $57.5M | $43.8M | — |
| Retained earnings | -$765.1M | -$387.4M | -$230.4M | — |
| Total equity | $242.1M | $312.5M | -$225.7M | -$192.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$172.3M | -$119.7M | -$30.5M | — |
| Depreciation and amortisation | $56.0K | $137.0K | $113.0K | — |
| Stock-based compensation | $26.3M | $10.8M | $3.5M | — |
| Capital expenditure | $18.0K | $131.0K | $17.0K | — |
| Investing cash flow | -$251.9M | -$30.6M | -$17.0K | — |
| Financing cash flow | $215.3M | $413.0M | $20.1M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-027964.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $50.0M | $5.0M | $10.0M |
| Gross profit | — | — | — | — |
| Net income | — | -$37.1M | -$157.0M | -$377.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2834
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LLY | ELI LILLY & Co | $1.20T | 55.5x | 44.7% |
| JNJ | JOHNSON & JOHNSON | $635.76B | 23.9x | 6.0% |
| ABBV | AbbVie Inc. | $504.76B | 121.0x | 8.6% |
| MRK | Merck & Co., Inc. | $358.41B | 20.0x | 1.3% |
| ABT | ABBOTT LABORATORIES | $180.63B | 27.9x | 5.7% |
| PFE | PFIZER INC | $171.16B | 22.1x | -1.6% |
| VRTX | VERTEX PHARMACEUTICALS INC / MA | $132.80B | 34.2x | 8.9% |
| BMY | BRISTOL MYERS SQUIBB CO | $125.59B | 17.8x | -0.2% |