Is Zenas BioPharma, Inc. (ZBIO) a Buy, Sell, or Hold?
NASDAQ : ZBIO
Zenas BioPharma, Inc.
$29.53 USD
$1.29 (4.57%)
- Volume
- 718.8K
- Average Volume
- 742.7K
- Market Capitalization
- $1.32B
- P/E Ratio
- -3.25
- Dividend Yield
- 0.00%
- Price Target
- $22.00
- Year High
- $44.60
- Year Low
- $13.07
- Day High
- —
- Day Low
- —
- Payout Ratio
- $0.00
- Current Ratio
- $11.94
ZBIO Financial Statements
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| revenue | 10M | 5M | 50M | - |
| costOfRevenue | - | 139.14M | - | 61.69M |
| grossProfit | 10M | -134.14M | 50M | -61.69M |
| researchAndDevelopmentExpenses | 168.06M | 139.14M | 60.03M | 62.69M |
| generalAndAdministrativeExpenses | 53.32M | 28.85M | 17.11M | 12.81M |
| sellingAndMarketingExpenses | - | 900K | - | 700K |
| sellingGeneralAndAdministrativeExpenses | 53.32M | 29.75M | 17.11M | 13.51M |
| otherExpenses | - | -139.14M | 10M | -61.69M |
| operatingExpenses | 221.38M | 29.75M | 87.15M | 14.51M |
| costAndExpenses | 221.38M | 168.89M | 87.15M | 76.2M |
| netInterestIncome | 4.82M | - | - | - |
| interestIncome | 12.15M | - | - | - |
| interestExpense | 7.33M | - | - | - |
| depreciationAndAmortization | 56000 | 137K | 113K | 78000 |
| ebitda | -370.43M | -156.42M | -27.03M | -75.12M |
| ebit | -370.49M | -156.56M | -27.15M | -75.2M |
| nonOperatingIncomeExcludingInterest | 159.1M | -7.33M | -10M | -1M |
| operatingIncome | -211.38M | -163.89M | -37.15M | -76.2M |
| totalOtherIncomeExpensesNet | -166.43M | 7.33M | 324K | -43.08M |
| incomeBeforeTax | -377.82M | -156.56M | -36.82M | -119.28M |
| incomeTaxExpense | -79000 | 429K | 301K | - |
| netIncomeFromContinuingOperations | -377.74M | -156.99M | -37.12M | -119.28M |
| netIncomeFromDiscontinuedOperations | - | - | - | - |
| otherAdjustmentsToNetIncome | - | - | - | - |
| netIncome | -377.74M | -156.99M | -37.12M | -119.28M |
| netIncomeDeductions | - | - | - | - |
| bottomLineNetIncome | -377.74M | -156.99M | -37.12M | -119.28M |
| eps | -8.44 | -3.76 | -0.97 | -3.11 |
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| cashAndCashEquivalents | 110.64M | 319.74M | 56.86M | 67.21M |
| shortTermInvestments | 232.55M | 31.02M | - | - |
| cashAndShortTermInvestments | 343.19M | 350.77M | 56.86M | 67.21M |
| netReceivables | - | - | - | - |
| accountsReceivables | - | - | - | - |
| otherReceivables | - | - | - | - |
| inventory | - | - | - | - |
| prepaids | - | - | - | - |
| otherCurrentAssets | 7.98M | 5.16M | 2.95M | 1.24M |
| totalCurrentAssets | 351.17M | 355.92M | 59.8M | 68.44M |
| propertyPlantEquipmentNet | 1.39M | 1.19M | 1.01M | 1.8M |
| goodwill | - | - | - | - |
| intangibleAssets | - | - | - | - |
| goodwillAndIntangibleAssets | - | - | - | - |
| longTermInvestments | 17.27M | - | - | - |
| taxAssets | - | - | - | - |
| otherNonCurrentAssets | 13.81M | 12.86M | 7.36M | 4.33M |
| totalNonCurrentAssets | 32.47M | 14.04M | 8.38M | 6.14M |
| otherAssets | - | - | - | - |
| totalAssets | 383.64M | 369.97M | 68.18M | 74.58M |
| totalPayables | 7.23M | 17.35M | 5.7M | 5.82M |
| accountPayables | 7.11M | 17.14M | 5.4M | 5.82M |
| otherPayables | 118K | 211K | 301K | - |
| accruedExpenses | 13.08M | 30.85M | 11.88M | 15.11M |
| shortTermDebt | 1.12M | - | - | - |
| capitalLeaseObligationsCurrent | - | 785K | 556K | 715K |
| taxPayables | - | 211K | 301K | - |
| deferredRevenue | - | - | - | - |
| otherCurrentLiabilities | 41.22M | 8.31M | 5.12M | 4.33M |
| totalCurrentLiabilities | 62.65M | 57.29M | 23.26M | 25.97M |
| longTermDebt | 78.64M | - | 20.3M | - |
| capitalLeaseObligationsNonCurrent | 211K | 218K | 257K | 812K |
| deferredRevenueNonCurrent | - | - | - | - |
| deferredTaxLiabilitiesNonCurrent | - | - | - | - |
| otherNonCurrentLiabilities | - | - | 250.09M | 240.09M |
| totalNonCurrentLiabilities | 78.85M | 218K | 270.64M | 240.9M |
| otherLiabilities | - | - | - | - |
| capitalLeaseObligations | 211K | 1M | 813K | 1.53M |
| totalLiabilities | 141.5M | 57.51M | 293.9M | 266.86M |
| treasuryStock | - | - | - | - |
| preferredStock | - | - | - | - |
| commonStock | 5000 | 4000 | - | - |
| retainedEarnings | -765.13M | -387.39M | -230.4M | -193.28M |
| additionalPaidInCapital | 1.01B | 699.65M | 4.64M | 1.03M |
| date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| netIncome | -377.74M | -156.99M | -37.12M | -119.28M |
| depreciationAndAmortization | -1.88M | 137K | 113K | 78000 |
| deferredIncomeTax | - | - | - | - |
| stockBasedCompensation | 26.35M | 10.82M | 3.5M | 737K |
| changeInWorkingCapital | 951K | 25.43M | -8.04M | 7.97M |
| accountsReceivables | - | - | - | - |
| inventory | - | - | - | - |
| accountsPayables | -10.04M | 11.74M | -418K | 1.09M |
| otherWorkingCapital | 10.99M | 13.69M | -7.62M | 6.88M |
| otherNonCashItems | 179.98M | 925K | 11.03M | 44.85M |
| netCashProvidedByOperatingActivities | -172.33M | -119.67M | -30.53M | -65.65M |
| investmentsInPropertyPlantAndEquipment | -18000 | -131K | -17000 | -198K |
| acquisitionsNet | - | - | - | - |
| purchasesOfInvestments | -417.76M | -36.42M | - | - |
| salesMaturitiesOfInvestments | 200.89M | 6M | - | - |
| otherInvestingActivities | -35M | - | - | -2M |
| netCashProvidedByInvestingActivities | -251.89M | -30.55M | -17000 | -2.2M |
| netDebtIssuance | - | - | 20M | - |
| longTermNetDebtIssuance | - | - | 20M | - |
| shortTermNetDebtIssuance | - | - | - | - |
| netStockIssuance | 152.94M | 419.02M | 116K | 59.39M |
| netCommonStockIssuance | 152.94M | 240.64M | 116K | 59.39M |
| commonStockIssuance | 152.94M | 240.64M | 116K | 59.39M |
| commonStockRepurchased | - | - | - | - |
| netPreferredStockIssuance | - | 178.38M | - | - |
| netDividendsPaid | - | - | - | - |
| commonDividendsPaid | - | - | - | - |
| preferredDividendsPaid | - | - | - | - |
| otherFinancingActivities | 62.34M | -6.06M | - | - |
| netCashProvidedByFinancingActivities | 215.28M | 412.96M | 20.12M | 59.39M |
| date | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| revenue | - | - | - | - | 10M | 5M | - | - | - | - |
| costOfRevenue | 6000 | 55.72M | 5M | 43.03M | - | - | 33.53M | 33.81M | 22.64M | 20.42M |
| grossProfit | -6000 | -55.72M | -5M | -43.03M | 10M | 5M | -33.53M | -33.81M | -22.64M | -20.42M |
| researchAndDevelopmentExpenses | 60.44M | 222.39M | 34.4M | 43.03M | 34.92M | 49.16M | 33.53M | 33.81M | 22.64M | 20.42M |
| generalAndAdministrativeExpenses | 16.91M | 17.09M | 13.18M | 11.33M | 12.42M | 11.47M | 7.25M | 5.35M | 4.93M | 4.16M |
| sellingAndMarketingExpenses | - | -1.49M | - | 803K | - | - | 200K | 543K | - | 200K |
| sellingGeneralAndAdministrativeExpenses | 16.9M | 15.59M | 13.18M | 12.14M | 12.42M | 11.47M | 7.45M | 5.9M | 4.93M | 4.36M |
| otherExpenses | - | -55.72M | - | -43.03M | - | - | -33.53M | -33.81M | -22.64M | -20.42M |
| operatingExpenses | 77.34M | 182.26M | 47.58M | 12.14M | 47.33M | 60.62M | 7.45M | 5.9M | 4.93M | 4.36M |
| costAndExpenses | 77.35M | 237.98M | 52.58M | 55.16M | 47.33M | 60.62M | 40.98M | 39.7M | 27.58M | 24.78M |
| netInterestIncome | -3.61M | - | - | - | - | - | - | - | - | - |
| interestIncome | 3.02M | - | - | - | - | - | - | - | - | - |
| interestExpense | 6.63M | - | - | - | - | - | - | - | - | - |
| depreciationAndAmortization | 6000 | 10000 | 11000 | 12000 | 23000 | 33000 | 36000 | 35000 | 33000 | 30000 |
| ebitda | -74.35M | -230.41M | -51.49M | -52.19M | -33.76M | -52.14M | -38.57M | -37.94M | -27.77M | -24.26M |
| ebit | -74.36M | -230.42M | -51.5M | -52.2M | -33.78M | -52.18M | -38.61M | -37.98M | -27.8M | -24.29M |
| nonOperatingIncomeExcludingInterest | -2.99M | -7.57M | -1.08M | -2.96M | -3.55M | -3.45M | -2.38M | -1.72M | 222K | -493K |
| operatingIncome | -77.35M | -237.98M | -52.58M | -55.16M | -37.33M | -55.62M | -40.98M | -39.7M | -27.58M | -24.78M |
| totalOtherIncomeExpensesNet | -3.64M | -2.35M | 1.08M | 2.96M | 3.55M | 3.45M | 2.38M | 1.72M | -222K | 493K |
| incomeBeforeTax | -80.99M | -240.34M | -51.5M | -52.2M | -33.78M | -52.18M | -38.61M | -37.98M | -27.8M | -24.29M |
| incomeTaxExpense | - | 106K | - | 20000 | -205K | 429K | - | - | - | 301K |
| netIncomeFromContinuingOperations | -80.99M | -240.44M | -51.5M | -52.22M | -33.57M | -52.6M | -38.61M | -37.98M | -27.8M | -24.59M |
| netIncomeFromDiscontinuedOperations | - | - | - | - | - | - | - | - | - | - |
| otherAdjustmentsToNetIncome | - | - | - | - | - | - | - | - | - | - |
| netIncome | -80.99M | -240.44M | -51.5M | -52.22M | -33.57M | -52.6M | -38.61M | -37.98M | -27.8M | -24.59M |
| netIncomeDeductions | - | - | - | - | - | - | - | - | - | - |
| bottomLineNetIncome | -80.99M | -240.44M | -51.5M | -52.22M | -33.57M | -52.6M | -38.61M | -37.98M | -27.8M | -24.59M |
| eps | -1.46 | -5.17 | -1.22 | -1.25 | -0.8 | -1.26 | -0.92 | -0.99 | -0.73 | -0.64 |
| date | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| cashAndCashEquivalents | 500.22M | 110.64M | 115.56M | 44.01M | 196.55M | 319.74M | 360.04M | 183.93M | 37.15M | 56.86M |
| shortTermInvestments | 216.98M | 232.55M | 175.32M | 229.27M | 115.82M | 31.02M | 26.76M | - | - | - |
| cashAndShortTermInvestments | 717.2M | 343.19M | 290.88M | 273.28M | 312.38M | 350.77M | 386.8M | 183.93M | 37.15M | 56.86M |
| netReceivables | 1.1M | - | - | - | - | - | - | - | - | - |
| accountsReceivables | 1.1M | - | - | - | - | - | - | - | - | - |
| otherReceivables | - | - | - | - | - | - | - | - | - | - |
| inventory | - | - | - | - | - | - | - | - | - | - |
| prepaids | - | - | - | 4.02M | - | - | - | 3.47M | - | - |
| otherCurrentAssets | 11.86M | 7.98M | 5.76M | 1.3M | 5.43M | 5.16M | 6.98M | 1.2M | 2.55M | 2.95M |
| totalCurrentAssets | 730.16M | 351.17M | 296.64M | 278.6M | 317.81M | 355.92M | 393.78M | 188.6M | 39.7M | 59.8M |
| propertyPlantEquipmentNet | 1.12M | 1.39M | 857K | 1.07M | 1.28M | 1.19M | 545K | 706K | 847K | 1.01M |
| goodwill | - | - | - | - | - | - | - | - | - | - |
| intangibleAssets | - | - | - | - | - | - | - | - | - | - |
| goodwillAndIntangibleAssets | - | - | - | - | - | - | - | - | - | - |
| longTermInvestments | 1.34M | 17.27M | 10.72M | 1.61M | 1.84M | - | - | - | - | - |
| taxAssets | - | - | - | - | - | - | - | - | - | - |
| otherNonCurrentAssets | 15.06M | 13.81M | 13.8M | 11.8M | 12.85M | 12.86M | 9.11M | 10.65M | 8.5M | 7.36M |
| totalNonCurrentAssets | 17.52M | 32.47M | 25.38M | 14.48M | 15.96M | 14.04M | 9.65M | 11.35M | 9.35M | 8.38M |
| otherAssets | - | - | - | - | - | - | - | - | - | - |
| totalAssets | 747.68M | 383.64M | 322.02M | 293.08M | 333.77M | 369.97M | 403.43M | 199.95M | 49.05M | 68.18M |
| totalPayables | 9.06M | 7.23M | 6.44M | 7.93M | 20.02M | 17.35M | 15.08M | 8.36M | 9.13M | 5.7M |
| accountPayables | 8.94M | 7.11M | 6.44M | 7.93M | 20.02M | 17.14M | 15.08M | 8.36M | 8.83M | 5.4M |
| otherPayables | 118K | 118K | - | - | 5000 | 211K | - | - | 301K | 301K |
| accruedExpenses | 5.62M | 13.08M | 36.6M | 38.47M | 24.82M | 30.85M | 22.34M | 29.73M | 16.96M | 11.88M |
| shortTermDebt | 1.04M | 1.12M | - | - | - | - | - | - | - | - |
| capitalLeaseObligationsCurrent | - | - | 618K | 793K | 908K | 785K | 384K | 494K | 516K | 556K |
| taxPayables | - | - | - | - | 5000 | 211K | - | - | 301K | 301K |
| deferredRevenue | - | - | - | - | - | - | - | - | - | - |
| otherCurrentLiabilities | 45.44M | 41.22M | 8.76M | 6.05M | 3.38M | 8.31M | 6.19M | 530K | 3.72M | 5.12M |
| totalCurrentLiabilities | 61.16M | 62.65M | 52.42M | 53.24M | 49.13M | 57.29M | 44M | 39.11M | 30.33M | 23.26M |
| longTermDebt | 350.62M | 78.64M | - | - | - | - | - | - | 20.99M | 20.3M |
| capitalLeaseObligationsNonCurrent | 77000 | 211K | 180K | 215K | 317K | 218K | - | 14000 | 133K | 257K |
| deferredRevenueNonCurrent | - | - | - | - | - | - | - | - | - | - |
| deferredTaxLiabilitiesNonCurrent | - | - | - | - | - | - | - | - | - | - |
| otherNonCurrentLiabilities | - | - | 72.99M | - | - | - | - | - | 250.09M | 250.09M |
| totalNonCurrentLiabilities | 350.69M | 78.85M | 73.17M | 215K | 317K | 218K | - | 14000 | 271.21M | 270.64M |
| otherLiabilities | - | - | - | - | - | - | - | - | - | - |
| capitalLeaseObligations | 77000 | 211K | 798K | 1.01M | 1.22M | 1M | 384K | 508K | 649K | 813K |
| totalLiabilities | 411.85M | 141.5M | 125.59M | 53.46M | 49.45M | 57.51M | 44M | 39.12M | 301.55M | 293.9M |
| treasuryStock | - | - | - | - | - | - | - | - | - | - |
| preferredStock | - | - | - | - | - | - | - | 449.61M | - | - |
| commonStock | 6000 | 5000 | 4000 | 4000 | 4000 | 4000 | 4000 | 1000 | 1000 | - |
| retainedEarnings | -846.12M | -765.13M | -524.69M | -473.19M | -420.96M | -387.39M | -334.79M | -296.18M | -258.2M | -230.4M |
| additionalPaidInCapital | 1.18B | 1.01B | 721.18M | 712.9M | 705.14M | 699.65M | 694.16M | 7.29M | 5.63M | 4.64M |
| date | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| netIncome | -80.99M | -240.44M | -51.5M | -52.22M | -33.57M | -52.6M | -38.61M | -37.98M | -27.8M | -24.59M |
| depreciationAndAmortization | -104K | -29000 | 11000 | -923K | 23000 | 33000 | 36000 | 35000 | 33000 | 30000 |
| deferredIncomeTax | - | - | - | - | - | - | - | - | - | - |
| stockBasedCompensation | 9.2M | 7.58M | 7.34M | 6.04M | 5.39M | 5.5M | 2.84M | 1.54M | 947K | 1.14M |
| changeInWorkingCapital | -9.86M | 8.31M | -3.66M | 5.16M | -8.86M | 8.87M | 4.54M | 5.16M | 6.86M | 7.57M |
| accountsReceivables | - | - | - | - | - | - | - | - | - | - |
| inventory | - | - | - | - | - | - | - | - | - | - |
| accountsPayables | 1.8M | 1.12M | -1.95M | -12.09M | 2.88M | 5.42M | 3.39M | -480K | 3.41M | 3.12M |
| otherWorkingCapital | -11.66M | 7.2M | -1.71M | 17.24M | -11.74M | 3.44M | 1.15M | 5.64M | 3.46M | 4.45M |
| otherNonCashItems | 6.56M | 172.16M | 6.69M | 200K | -29000 | -344K | 125K | 291K | 853K | 455K |
| netCashProvidedByOperatingActivities | -75.2M | -52.41M | -41.12M | -41.74M | -37.05M | -38.55M | -31.06M | -30.96M | -19.1M | -15.4M |
| investmentsInPropertyPlantAndEquipment | -2000 | - | - | - | -18000 | -74000 | - | -35000 | -22000 | -17000 |
| acquisitionsNet | - | - | - | - | - | - | - | - | - | - |
| purchasesOfInvestments | -76.52M | -132.89M | -59.2M | -126.55M | -99.11M | -9.66M | - | - | - | - |
| salesMaturitiesOfInvestments | 108.13M | 69.53M | 104.24M | 14.26M | 12.86M | 6M | - | - | - | - |
| otherInvestingActivities | - | -30M | -5M | - | - | - | -26.76M | - | - | - |
| netCashProvidedByInvestingActivities | 31.61M | -93.36M | 40.04M | -112.29M | -86.27M | -3.74M | -26.76M | -35000 | -22000 | -17000 |
| netDebtIssuance | 267.03M | - | - | - | - | - | - | - | - | - |
| longTermNetDebtIssuance | 267.03M | - | - | - | - | - | - | - | - | - |
| shortTermNetDebtIssuance | - | - | - | - | - | - | - | - | - | - |
| netStockIssuance | 166.45M | 150.18M | 940K | 1.72M | 99000 | 6.25M | 234.42M | 178.5M | 42000 | 50000 |
| netCommonStockIssuance | 166.45M | 150.18M | 940K | 1.72M | 99000 | 6.25M | 234.42M | 178.5M | 42000 | 50000 |
| commonStockIssuance | 166.45M | 150.18M | 940K | 1.72M | 99000 | 6.25M | 234.42M | 178.5M | 42000 | 50000 |
| commonStockRepurchased | - | - | - | - | - | - | - | - | - | - |
| netPreferredStockIssuance | - | - | - | - | - | - | - | - | - | - |
| netDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| commonDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| preferredDividendsPaid | - | - | - | - | - | - | - | - | - | - |
| otherFinancingActivities | - | -9.34M | 71.68M | - | - | -4.4M | -439K | -766K | -656K | - |
| netCashProvidedByFinancingActivities | 433.48M | 140.84M | 72.62M | 1.72M | 99000 | 1.85M | 233.98M | 177.74M | -614K | 50000 |