MARKETS / NASDAQ / ZBIO
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Zenas BioPharma, Inc. ZBIO

3 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
$10.0M
▲ 100.0% vs FY2024
EPS · FY25
$-8.44
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-136.2%
Net margin · FY25
-3777.4%
Dividend coverage
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Result
USD 10.0M
Revenue, FY2025 · full 3-year series below
Revenue Net income
0.020.040.060.0-0.420232025
0.020.040.060.0-0.420232025

The company lost 3777 cents on every revenue dollar this year.

Per share
USD -8.44
Diluted EPS, FY2025
EPS
0.40.81.2-8.4420232025
0.40.81.2-8.4420232025

The company pays no cash dividend.

Profitability
-136.2%
Return on equity, FY2025
ROE
0.250.50.751-136.2%20232025
0.250.50.751-136.2%20232025
Operating margin-3830.6%
Net margin-3777.4%
Return on assets-100.2%

Each USD of equity lost 136 cents this year.

Returned to shareholders
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacks
Share of profit
Consecutive raises

Growth
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.05B
Shares outstanding, FY2025
0.000.0520232025
0.000.0520232025
Change, 5 years
Change, 10 years

A share split breaks the comparison across the period, so we leave it out.

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Balance sheet
USD 383.6M
total assets, end of FY2025
Total assetsUSD 383.6M
EquityUSD 242.1M
CashUSD 110.6M
Gross debtUSD 78.6M
Net debtUSD -32.0M
Current ratio5.61×

The company holds more cash than debt.

History
3 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
Revenue $B
0.0
0.0
0.1
Operating income $B
−0.4
−0.2
−0.0
EBITDA $B
−0.4
−0.2
−0.0
Income tax $B
−0.0
0.0
0.0
Net income $B
−0.4
−0.2
−0.0
EPS, diluted $
−8.44
−11.89
−24.25
Dividend / sh $
·
·
·
Payout %
·
·
·
ROE %
−136.2
−362.0
·
Shares out B
0.05
0.04
0.00

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
9 of 9
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed