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Stocks · Health care · Pharmaceutical Preparations

Zenas BioPharma, Inc.

ZBIO Clue Score40
United States Fiscal year ends December CIK 0001953926
$27.26 +3.89% Close, 9 Oct 2026
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Price $27.26 −1.80% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 13 Sep 2024. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2023Revenue50.0Operating income−37.1Net income−37.1EPS, diluted−24.25Fiscal year 2024Revenue5.0 −90.0%Operating income−163.9Net income−157.0EPS, diluted−11.89Fiscal year 2025Revenue10.0 +100.0%Operating income−383.1Net income−377.7EPS, diluted−8.44
FY2023FY2024FY2025
Revenue 50.0 5.0 10.0
Growth −90.0% +100.0%
Operating income −37.1 −163.9 −383.1
Net income −37.1 −157.0 −377.7
Growth
EPS, diluted −24.25 −11.89 −8.44

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2023Operating margin−74.3%Net margin−74.2%Free cash flow margin−61.1%Fiscal year 2024Operating margin−3,277.8%Net margin−3,139.8%Free cash flow margin−2,396.1%Fiscal year 2025Operating margin−3,830.6%Net margin−3,777.4%Free cash flow margin−1,723.5%
FY2023FY2024FY2025
Operating margin −74.3% −3,277.8% −3,830.6%
Net margin −74.2% −3,139.8% −3,777.4%
Free cash flow margin −61.1% −2,396.1% −1,723.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2023Operating cash flow−30.5Capital expenditure−0.0Free cash flow−30.5Fiscal year 2024Operating cash flow−119.7Capital expenditure−0.1Free cash flow−119.8Fiscal year 2025Operating cash flow−172.3Capital expenditure−0.0Free cash flow−172.4
FY2023FY2024FY2025
Operating cash flow −30.5 −119.7 −172.3
Capital expenditure −0.0 −0.1 −0.0
Free cash flow −30.5 −119.8 −172.4
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2023Cash56.9Shareholders’ equity−225.7Fiscal year 2024Cash319.7Shareholders’ equity312.5Fiscal year 2025Cash110.6Total debt78.6Net cash (debt)32.0Shareholders’ equity242.1Debt to equity0.32
FY2023FY2024FY2025
Cash 56.9 319.7 110.6
Total debt n/a n/a 78.6
Net cash (debt) n/a n/a 32.0
Shareholders’ equity −225.7 312.5 242.1
Debt to equity n/a n/a 0.32

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−74.3% −3,277.8% −3,830.6%
−73.6% −3,131.2% −3,778.2%
−74.2% −3,139.8% −3,777.4%
−61.1% −2,396.1% −1,723.5%
Spending
120.1% 2,782.8% 1,680.6%
34.2% 595.0% 533.2%
0.0% 2.6% 0.2%
Returns
n/a −50.2% −156.0%
−54.4% −42.4% −98.5%
Balance and payout
n/a n/a 0.32
64.3% 15.5% 36.9%