Zenas BioPharma, Inc.
ZBIO Nasdaq· Pharmaceutical Preparations
Last close · Oct 27, 2026
$27.30
KIRA · Stoqly’s AI analyst, in plain words
- Zenas BioPharma, Inc. had $10.0M of revenue in fiscal 2025, up 100.0% on the year before.
- Its operating margin was −3,830.6%, down 552.8 pts: of every 100 in sales, about −3,831 is left after running the business.
- Zenas BioPharma, Inc. lost $378M in fiscal 2025.
- Free cash flow was −$172M in fiscal 2025, −1,723.5% of revenue.
- Zenas BioPharma, Inc. has $265M more cash than debt.
Market cap
$1.7B
P/E
—
Revenue
$10.0M
Net income
−$378M
Free cash flow
−$172M
Operating margin
−3,830.6%
Zenas BioPharma, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+100.0%
Yes. Sales grew 100.0% last year.
Does it make a profit?
−3,777.4%
No. It lost money last year.
Does profit turn into cash?
−1,723.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Zenas BioPharma, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 16, 2026
- Legal name
- Zenas BioPharma, Inc.
- CIK
- 0001953926
Zenas BioPharma, Inc. · ZBIO
Results and finances
The last 3 fiscal years. Amounts in USD.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Sales and profit | |||
| Revenue | $50.0M | $5.0M | $10.0M |
| Revenue growth | — | −90.0% | 100.0% |
| Operating margin | −74.3% | −3,277.8% | −3,830.6% |
| Net income | −$37.1M | −$157M | −$378M |
| Net margin | −74.2% | −3,139.8% | −3,777.4% |
| Diluted EPS | −$24.25 | −$11.89 | −$8.44 |
| Cash | |||
| Cash from operations | −$30.5M | −$120M | −$172M |
| Capital expenditure | $0.0M | $0.1M | $0.0M |
| Free cash flow | −$30.5M | −$120M | −$172M |
| FCF margin | −61.1% | −2,396.1% | −1,723.5% |
| Share count change | — | 762.0% | 238.9% |
| Debt and strength | |||
| Cash and short-term investments | $56.9M | $351M | $343M |
| Debt incl. finance leases | — | — | $78.6M |
| Shareholders' equity | −$226M | $312M | $242M |
| Current ratio | 2.6x | 6.2x | 5.6x |
| Interest coverage | — | — | −52.3x |
| Returns and quality | |||
| Return on equity | — | −362.0% | −136.2% |
| Return on tangible equity | — | −50.2% | −156.0% |
| Piotroski F-score | — | 3 | 2 |
| Altman Z'' | −16.6 | 4.6 | −6.5 |
Insiders bought, 12 months
$11.4M
4 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Zenas BioPharma, Inc. · ZBIO
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $27.30 a share, the company is worth $1.7B.
Source: SEC EDGAR XBRL filings (CIK 0001953926). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.