Company Overview
Zenas BioPharma, Inc., a clinical-stage biopharma company, engages in the development and commercialization of transformative immunology-based therapies. Its lead product candidate is obexelimab, a bifunctional monoclonal antibody designed to bind CD19 and Fc?RIIb for the treatment of various I&I diseases and various indications, including immunoglobulin G4-related disease, multiple sclerosis, and systemic lupus erythematosus. The company develops ZB002, an anti-TNFa monoclonal antibody; ZB004, a CTLA-4-Ig fusion protein designed to have an extended half-life versus; and ZB001, an anti-IGF-1R monoclonal antibody. The company was formerly known as Zenas BioPharma (Cayman) Limited and changed its name to Zenas BioPharma, Inc. in August 2023. The company was incorporated in 2019 and is headquartered in Waltham, Massachusetts.
Recent Developments
- Dec 2025 Revenue of $10.00M (+100.0% YoY); net profit $-377.74M.
- Trailing 12 Months Year-on-year growth — revenue +100.0%.
- 5-Year Trend Long-term compounding — profit CAGR -72.2%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | - |
| 1 Year: | 100.00% |
Compounded Profit Growth
| 5 Years: | -72.23% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +124.49% |
| 6 Months: | +78.98% |
| 3 Months: | +36.79% |
| 1 Month: | +62.05% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMAAbove
- Price vs 200-DMAAbove
- RSI (14)67.88 · Neutral
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
No notable strengths flagged.
CONS
- Earnings shrank at -72.2% CAGR over 5 years.
- Trading 33.3% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | ZBIO Zenas BioPharma, Inc. R2K | 28.78 | -3.16 | $1.82B | 0.00% | -115.42% | -137.11% | - | -72.23% |
| 2 | LLY Eli Lilly and Company SPX | 1,152.54 | 41.02 | $1.03T | 0.61% | - | 107.46% | 7.20% | 11.41% |
| 3 | JNJ Johnson & Johnson SPX | 253.85 | 29.45 | $611.07B | 2.23% | 14.88% | 26.42% | 2.43% | 4.76% |
| 4 | ABBV AbbVie Inc. SPX | 244.78 | 119.40 | $432.48B | 3.04% | 10.47% | -129.24% | 1.75% | -29.06% |
| 5 | UNH UnitedHealth Group Incorporated SPX | 425.19 | 32.02 | $386.13B | 2.27% | 9.74% | 12.18% | 10.40% | 5.43% |
| 6 | MRK Merck & Co., Inc. SPX | 120.78 | 34.02 | $298.31B | 2.86% | - | 18.94% | 5.64% | 10.01% |
| 7 | AZN AstraZeneca PLC NDX | 164.50 | 24.81 | $255.12B | 1.77% | 15.97% | 23.48% | 9.82% | 45.96% |
| 8 | TMO Thermo Fisher Scientific Inc. SPX | 534.07 | 29.33 | $198.47B | 0.40% | 8.14% | 13.52% | 8.81% | 12.95% |
| 9 | AMGN Amgen Inc. NDXSPX | 355.25 | 24.69 | $191.73B | 2.84% | 18.02% | 101.32% | 11.77% | 5.58% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | 50.00M | - | - | - | - | 10.00M | 0 | 0 | 0 | 0 |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Expenses | - | - | - | - | - | - | - | 47.33M | 55.16M | 47.58M | 71.31M | 77.35M |
| Operating Income | - | - | 35.62M | -27.58M | -39.70M | -40.98M | - | -37.33M | -55.16M | -47.58M | -71.31M | -77.35M |
| EBITDA | - | - | - | - | - | - | - | -33.76M | -55.15M | -47.57M | -230.41M | -74.35M |
| Interest Expense | - | - | - | - | - | - | - | 0 | - | - | - | 6.63M |
| Pretax Income | - | - | - | - | - | - | - | -33.78M | -52.20M | -51.50M | -240.34M | -80.99M |
| Tax Provision | - | - | - | - | - | - | - | -205.00K | 20.00K | 0 | 106.00K | 0 |
| Net Income | -19.10M | -29.05M | 35.61M | -27.80M | -37.98M | -38.61M | - | -33.57M | -52.22M | -51.50M | -240.44M | -80.99M |
| Diluted EPS | - | - | 1.96 | -17.89 | -24.23 | -5.02 | - | -0.80 | -1.25 | -1.22 | -4.54 | -1.46 |
| R&D Expense | - | - | 9.35M | 22.64M | 33.81M | 33.53M | - | 34.91M | 43.03M | 34.40M | - | 60.44M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 0 | 50.00M | 5.00M | 10.00M |
| Cost of Revenue | - | - | - | - |
| Gross Profit | - | - | - | - |
| Operating Expenses | 75.20M | 77.15M | 168.89M | 221.38M |
| Operating Income | -75.20M | -27.15M | -163.89M | -211.38M |
| EBITDA | -75.12M | -27.03M | -156.42M | -370.43M |
| Interest Expense | - | - | 0 | 7.33M |
| Pretax Income | -119.28M | -36.82M | -156.56M | -377.82M |
| Tax Provision | 0 | 301.00K | 429.00K | -79.00K |
| Net Income | -119.28M | -37.12M | -156.99M | -377.74M |
| Diluted EPS | -9.26 | -2.13 | -11.89 | -8.44 |
| R&D Expense | - | 60.03M | 139.14M | 168.06M |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Total Assets | 74.58M | 68.18M | 369.97M | 383.64M |
| Current Assets | 68.44M | 59.80M | 355.92M | 351.17M |
| Cash & Equivalents | 67.21M | 56.86M | 319.74M | 110.64M |
| Inventory | - | - | - | - |
| Receivables | - | - | - | - |
| Total Liabilities | 266.87M | 293.90M | 57.51M | 141.50M |
| Current Liabilities | 25.97M | 23.26M | 57.29M | 62.65M |
| Long Term Debt | - | 20.30M | - | - |
| Total Debt | 1.53M | 21.11M | 1.00M | 1.33M |
| Total Equity | -192.29M | -225.72M | 312.46M | 242.14M |
| Shares Outstanding | 39.79M | 39.79M | 41.79M | 54.49M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Operating Cash Flow | -65.65M | -30.53M | -119.67M | -172.33M |
| Investing Cash Flow | -2.20M | -17.00K | -30.55M | -251.89M |
| Financing Cash Flow | 59.39M | 20.12M | 412.96M | 215.28M |
| Capital Expenditure | -2.20M | -17.00K | -131.00K | -35.02M |
| Free Cash Flow | -67.85M | -30.55M | -119.81M | -207.35M |
| Net Change in Cash | -8.46M | -10.43M | 262.73M | -208.94M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Gross Margin % | - | - | - | - |
| Operating Margin % | - | -54.3% | -3,277.8% | -2,113.8% |
| Net Margin % | - | -74.2% | -3,139.8% | -3,777.4% |
| ROE % | 62.0% | 16.4% | -50.2% | -156.0% |
| ROCE % | -154.7% | -60.4% | -52.4% | -65.9% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | FMR, LLC | 14.39% | 9.08M | $245.12M |
| 2 | SR One Capital Management, LP | 7.98% | 5.04M | $135.97M |
| 3 | NEA Management Company, LLC | 6.37% | 4.02M | $108.59M |
| 4 | Enavate Sciences Gp, LLC | 6.21% | 3.92M | $105.78M |
| 5 | Federated Hermes, Inc. | 4.95% | 3.13M | $84.40M |
| 6 | Polar Capital Holdings PLC | 4.04% | 2.55M | $68.78M |
| 7 | Capital International Investors | 3.86% | 2.43M | $65.69M |
| 8 | Fairmount Funds Management LLC | 3.74% | 2.36M | $63.67M |
| 9 | Blackrock Inc. | 3.23% | 2.04M | $54.99M |
| 10 | NVP Associates, LLC | 2.91% | 1.84M | $49.62M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for ZBIO
Zenas BioPharma: Obexelimab Could Build An Autoimmune Franchise (NASDAQ:ZBIO) - Seeking Alpha
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ZBIO — Frequently Asked Questions
What is the current share price of Zenas BioPharma, Inc. (ZBIO)?
As of 2026-07-14 21:23 PDT, Zenas BioPharma, Inc. (ZBIO) trades at $28.78 on NasdaqGS. Its 52-week range is $12.35 to $43.17.
What is the market capitalisation of ZBIO?
Zenas BioPharma, Inc. (ZBIO) has a market capitalisation of $1.82B on NasdaqGS.
What is the P/E ratio of ZBIO?
ZBIO trades at a trailing price-to-earnings (P/E) ratio of -3.16. The industry average P/E is 25.41. Its price-to-book (P/B) ratio is 6.07.
What is the return on equity (ROE) of ZBIO?
ZBIO has a return on equity (ROE) of -137.11%. Its return on capital employed (ROCE) is -115.42%.
Is ZBIO a good stock to buy?
This page provides a data-driven analysis of Zenas BioPharma, Inc. (ZBIO), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.