Zenas BioPharma financials
$26.76−2.87%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q2 '26 Jun 30 | Q1 '26 Mar 31 | Q4 '25 Dec 31 | Q3 '25 Sep 30 | Q2 '25 Jun 30 | Q1 '25 Mar 31 | Q4 '24 Dec 31 | Q3 '24 Sep 30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0M | $0.00 | $0.00 | $0.00 | $0.00 | $10.0M | $5.0M | $0.00 |
| Gross profit | $1.0M | $0.00 | $0.00 | $0.00 | $0.00 | $10.0M | $5.0M | $0.00 |
| Gross margin | 100.0% | — | — | — | — | 100.0% | 100.0% | — |
| Operating income | -$107.7M | -$77.3M | -$238.0M | -$52.6M | -$55.2M | -$37.3M | -$55.6M | -$41.0M |
| Net income | -$111.5M | -$81.0M | -$240.4M | -$51.5M | -$52.2M | -$33.6M | -$52.6M | -$38.6M |
| Net margin | −11145.6% | — | — | — | — | −335.7% | −1052.1% | — |
| Diluted EPS | $-1.77 | $-1.46 | $-4.53 | $-1.22 | $-1.25 | $-0.80 | $-1.25 | $-5.02 |
| EBITDA | -$107.7M | -$77.3M | -$238.0M | -$52.6M | -$55.2M | -$37.3M | -$55.6M | -$40.9M |
| Operating cash flow | -$57.2M | -$75.2M | -$52.4M | -$41.1M | -$41.7M | -$37.1M | -$38.6M | -$31.1M |
| Free cash flow | -$57.2M | -$75.2M | -$52.4M | -$41.1M | -$41.7M | -$37.1M | -$38.6M | -$31.1M |
| Diluted shares | 63.1M | 55.6M | 53.1M | 42.2M | 41.9M | 41.8M | 42.0M | 7.7M |
Balance sheet
| Period end | Jun 30 | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $196.6M | $500.2M | $110.6M | $115.6M | $44.0M | $196.6M |
| Short-term investments | $446.5M | $217.0M | $232.6M | $175.3M | $229.3M | $115.8M |
| Total debt | $297.0M | $265.7M | $0.00 | $73.0M | $0.00 | $0.00 |
| Total assets | $701.7M | $747.7M | $383.6M | $322.0M | $293.1M | $333.8M |
| Total liabilities | $454.6M | $411.9M | $141.5M | $125.6M | $53.5M | $49.4M |
| Shareholders' equity | $247.1M | $335.8M | $242.1M | $196.4M | $239.6M | $284.3M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology