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Zenas BioPharma(NASDAQ) ZBIO

Market Cap$2.05BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2024)+79%
5 YearN/A
1 Year+119%
1 Month+13%
$32.00
-1.33%
-0.43Today
After hours$31.97-$0.03 (-0.10%)
Zenas BioPharma last closing stock price
MetricPriceDate
Last closeUSD 32.432026-08-07
Zenas BioPharma stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week+3.15%USD 31.442026-07-31
1 month+12.74%USD 28.772026-07-08
3 month+65.12%USD 19.642026-05-08
Year to date-10.69%USD 36.312025-12-31
1 year+119.12%USD 14.802025-08-07
Since inception+78.68%USD 18.152024-09-13

Zenas BioPharma Financials at a Glance

Market Cap

$2.05BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$0.00

Net Income (TTM)

-$425.15M

EPS (TTM)

-$9.10

P/E Ratio

-3.57

Dividend

$0.00

Beta (Volatility)

1.37 (Average)

Price

$32.00

Volume

409,915

Open

$32.24

Previous Close

$31.99

Daily Range

$31.61 - $32.70

52-Week Range

$13.50 - $44.60

Estimated Earnings Date

Aug 11, 2026

ZBIO News

BuyAlert-Blue.png

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

Robert IzquierdoJun 21, 2026
BuyAlert-Blue.png

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

Seena HassounaMar 21, 2026
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Chairman and CEO of Zenas BioPharma (ZBIO) Buys 36,928 Shares for $769,948

Cory RenauerOct 16, 2025

ZBIO: Motley Fool Moneyball Superscore

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About Zenas BioPharma

Zenas develops medicine for people with immune system diseases. These treatments aim to stop symptoms without destroying healthy cells. The company focuses on making daily life easier for patients.

Modern Medicines for Immune Diseases

  • Obexelimab: Lead antibody therapy designed to block harmful immune cell activity without killing the cells; currently in late-stage testing for inflammatory diseases.
  • Orelabrutinib: Oral drug that crosses the blood-brain barrier to treat multiple sclerosis, a disease that damages the nerves.
  • Early-Stage Pipeline: Targeted medicines for inflammation and immune disorders currently undergoing initial safety and dosage testing in humans.

Strategic Deals and Global Partners

  • Licensed rights to orelabrutinib and two early-stage candidates from InnoCare in October 2025.
  • Partnered with Bristol Myers Squibb to develop and sell obexelimab in specific Asian and Australian markets.
  • Granted an exclusive sublicense for the ZB001 program to Zai Lab in January 2025.
  • Transferred development rights for the ZB005 medicine program to Tenacia in October 2024.

How These Treatments Work

Zenas acquires promising drug candidates and uses internal expertise to move them through clinical trials. Its lead products use unique methods to stop immune attacks without the severe side effects of traditional cell-killing therapies.

Key Financial Facts

  • Revenue fell to $0 in Q4 2025, down 100% from $5 million in Q4 2024.
  • Net losses reached $240.4 million in Q4 2025, worsening by 357.1% from the previous year.
  • Operating cash flow was negative $52.4 million in Q4 2025, worsening by 35.9% compared to Q4 2024.
  • Market capitalization grew to $1.7 billion in Q4 2025, up 393.3% from $342.3 million in Q4 2024.

Bottom Line

Zenas has evolved into a late-stage clinical company by aggressively licensing new drug candidates and forming global partnerships. Its future growth depends on successfully moving these experimental treatments through the final stages of regulatory approval.

AI Generated • May 1, 2026

Industry

Biotechnology

Sector

Health Care

Employees

167

CEO

Lonnie Moulder, Jr., MBA

Website

www.zenasbio.com

Headquarters

Waltham, MA 02451, US

ZBIO Financials

Key Financial Metrics (TTM)

Gross Margin

0.00%

Operating Margin

0.00%

Net Income Margin

0.00%

Return on Equity

-167.71%

Return on Capital

-65.63%

Return on Assets

-56.86%

Earnings Yield

-28.01%

Dividend Yield

0.00%

Payout Ratio

0.00%

Stock Overview

Market Cap

$2.05BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

63.13M

Volume

409.92K

Avg. Volume

782.82K

Financials (TTM)

Gross Profit

-$103.75M

Operating Income

-$423.08M

EBITDA

-$408.44M

Operating Cash Flow

-$210.48M

Capital Expenditure

-$2.00K

Free Cash Flow

-$210.48M

Cash & ST Invst.

$717.21M

Total Debt

$351.73M

Zenas BioPharma Performance Analysis

Zenas BioPharma annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 0N/A
20232023-12-31USD 50,000,000N/A
20242024-12-31USD 5,000,000-90.0%
20252025-12-31USD 10,000,000100.0%
Zenas BioPharma sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-30-100.0%
Q32025-09-30N/A
Q42025-12-31N/A
Q12026-03-31N/A
Zenas BioPharma annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD -3.11N/A
20232023-12-31USD -0.97-68.9%
20242024-12-31USD -3.76287.7%
20252025-12-31USD -8.44124.8%
Zenas BioPharma sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-30-56.2%
Q32025-09-302.4%
Q42025-12-31-323.8%
Q12026-03-3171.8%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q1 2026YOY CHG

Revenue

$0.00

-100.0%

Gross Profit

-$6.00K

-100.1%

Gross Margin

0.00%

N/A

Market Cap

$2.05BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$12.26M

N/A

Employees

167

N/A

Net Income

-$80.99M

-141.2%

EBITDA

-$74.35M

-120.3%

Quarterly Fundamentals

Name
Q1 2026YOY CHG

Total Cash

$717.21M

+129.6%

Total Debt

$351.73M

+28612.6%

Accounts Receivable

$1.10M

N/A

Inventory

$0.00

N/A

Long Term Debt

$350.69M

+110528.4%

Short Term Debt

$1.04M

+14.2%

Return on Assets

-56.86%

N/A

Return on Invested Capital

-61.63%

N/A

Free Cash Flow

-$75.20M

-102.9%

Operating Cash Flow

-$75.20M

-103.0%

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Questions About ZBIO

What is the current price of Zenas BioPharma?

Zenas BioPharma is trading at $31.99 per share.

What is the 52-week range for Zenas BioPharma?

Over the past 52 weeks, Zenas BioPharma has traded between $13.50 and $44.60.

How much debt does Zenas BioPharma have?

As of the most recent reporting period, Zenas BioPharma reported total debt of $351.73M.

How much cash does Zenas BioPharma have on hand?

Zenas BioPharma reported $500.22M in cash and cash equivalents in its most recent financial results.

What is Zenas BioPharma’s dividend yield?

Zenas BioPharma does not currently have a dividend yield.

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