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Zenas BioPharma, Inc. (ZBIO)
NASDAQ:ZBIO
US Market

Zenas BioPharma, Inc. (ZBIO) AI Stock Analysis

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ZB

Zenas BioPharma, Inc.

(NASDAQ:ZBIO)

Rating:42Neutral
Price Target:
$9.50
▼(-5.28%Downside)
Zenas BioPharma's overall score is primarily impacted by its challenging financial performance and poor valuation, which are mitigated slightly by neutral technical indicators. While upcoming corporate events and clinical advancements present potential upside, they are not currently sufficient to offset fundamental weaknesses.
Positive Factors
Clinical Trials
Upcoming readouts could demonstrate the potential of inhibiting B cells in autoimmune conditions while building out the pipeline-in-a-product potential of obexelimab.
Innovative Treatment
Obexelimab is designed for a self-administered subcutaneous injection regimen potentially offering convenience and safety differentiation.
Negative Factors
Market Perception
There is encouragement about CD19 mAbs in development, validating the potential commercial opportunity for obex, and effectively addressing some debates following ACR24 KOL comments.
Stock Performance
Stock performance has been underwhelming since IPO, which is a disconnect from the fundamental value.

Zenas BioPharma, Inc. (ZBIO) vs. SPDR S&P 500 ETF (SPY)

Zenas BioPharma, Inc. Business Overview & Revenue Model

Company DescriptionZenas BioPharma, Inc., a clinical-stage biopharmaceutical company, engages in the development and commercialization of transformative immunology-based therapies. Its lead product candidate is obexelimab, a bifunctional monoclonal antibody for various indications, including immunoglobulin G4-related disease, multiple sclerosis, systemic lupus erythematosus, and warm autoimmune hemolytic anemia. The company also develops ZB002, an anti-TNFa monoclonal antibody; ZB004, a cytotoxic T-lymphocyte-associated antigen 4-immunoglobulin fusion; ZB001, an anti-insulin-like growth factor-1 receptor monoclonal antibody; and ZB005, an anti-active complement component 1s monoclonal antibody. Zenas BioPharma, Inc. was formerly known as Zenas BioPharma (Cayman) Limited and changed its name to Zenas BioPharma, Inc. in August 2023. The company was incorporated in 2019 and is based in Waltham, Massachusetts.
How the Company Makes MoneyZenas BioPharma, Inc. generates revenue primarily through the development and commercialization of its proprietary pharmaceutical products. The company earns money by selling its approved drugs directly to healthcare providers, hospitals, and distributors. Additionally, Zenas engages in strategic partnerships and licensing agreements with other pharmaceutical companies, which may include upfront payments, milestone payments, and royalties based on product sales. These collaborations often enhance the company's market reach and provide additional funding for research and development activities. Furthermore, Zenas may receive government grants or subsidies aimed at promoting innovation in the biotech sector.

Zenas BioPharma, Inc. Financial Statement Overview

Summary
Zenas BioPharma is experiencing substantial revenue decline and persistent losses, with a strong equity recovery providing some balance sheet stability. However, significant cash flow challenges driven by operational cash burn underscore the need for improvements.
Income Statement
30
Negative
Zenas BioPharma has shown a significant decline in revenue from $50 million in 2023 to $5 million in 2024, indicating a severe contraction. The gross profit margin remains high due to zero cost of goods sold, yet the company faces substantial operating losses with negative EBIT and net income, highlighting ongoing profitability challenges.
Balance Sheet
40
Negative
The company has a strong equity position with a debt-to-equity ratio of only 0.003, suggesting low financial leverage. However, the negative equity in previous years indicates past difficulties, although recent improvements in stockholder's equity to $312 million show significant recovery. The equity ratio of approximately 84% is a positive indicator of financial stability.
Cash Flow
35
Negative
Zenas BioPharma's free cash flow remains negative, with a decline in operating cash flow from -$30 million to -$120 million. While financing activities have injected significant cash, the operational cash burn is a concern. The operating cash flow to net income ratio is negative, reflecting inefficiency in converting income into cash.
BreakdownTTMDec 2024Dec 2023Dec 2022
Income Statement
Total Revenue15.00M5.00M50.00M0.00
Gross Profit15.00M5.00M50.00M0.00
EBITDA-169.96M-163.75M-27.03M-75.12M
Net Income-162.76M-156.99M-37.12M-119.28M
Balance Sheet
Total Assets333.77M369.97M68.18M74.58M
Cash, Cash Equivalents and Short-Term Investments312.38M350.77M56.86M67.21M
Total Debt1.23M1.00M21.11M1.53M
Total Liabilities49.45M57.51M293.90M266.87M
Stockholders Equity284.32M312.46M-225.72M-192.29M
Cash Flow
Free Cash Flow-137.75M-119.81M-30.55M-67.85M
Operating Cash Flow-137.62M-119.67M-30.53M-65.65M
Investing Cash Flow-116.80M-30.55M-17.00K-2.20M
Financing Cash Flow413.67M412.96M20.12M59.39M

Zenas BioPharma, Inc. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price10.03
Price Trends
50DMA
10.22
Negative
100DMA
8.99
Positive
200DMA
11.49
Negative
Market Momentum
MACD
-0.11
Positive
RSI
50.05
Neutral
STOCH
43.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBIO, the sentiment is Positive. The current price of 10.03 is below the 20-day moving average (MA) of 10.25, below the 50-day MA of 10.22, and below the 200-day MA of 11.49, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 50.05 is Neutral, neither overbought nor oversold. The STOCH value of 43.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZBIO.

Zenas BioPharma, Inc. Risk Analysis

Zenas BioPharma, Inc. disclosed 78 risk factors in its most recent earnings report. Zenas BioPharma, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Securities class action litigation imposes costs on our business. Q1, 2025

Zenas BioPharma, Inc. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
58
Neutral
$387.51M-22.95%40.88%-579.73%
58
Neutral
$561.59M-83.24%-100.32%-197.69%
52
Neutral
$7.53B0.32-61.76%2.28%16.60%1.56%
45
Neutral
$370.71M-1869.55%-60.19%56.60%
45
Neutral
$421.80M-26.14%74.59%
44
Neutral
$439.43M-33.14%
42
Neutral
$419.60M-115.47%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ZBIO
Zenas BioPharma, Inc.
10.03
-7.94
-44.18%
CKPT
Checkpoint Therapeutics
4.26
2.06
93.64%
ETON
Eton Pharmaceuticals
14.45
11.05
325.00%
TRML
Tourmaline Bio
16.42
3.12
23.46%
AMLX
Amylyx Pharmaceuticals Inc
6.30
4.65
281.82%
RAPP
Rapport Therapeutics, Inc.
12.04
-12.23
-50.39%

Zenas BioPharma, Inc. Corporate Events

Executive/Board ChangesShareholder Meetings
Zenas BioPharma Announces Board Changes at Annual Meeting
Neutral
Jun 12, 2025

On June 10, 2025, Zenas BioPharma, Inc. held its 2025 Annual Meeting of Stockholders. During this meeting, Ting (Tim) Xiao resigned from the Board of Directors, reducing the board size from nine to eight. Stockholders elected Leon O. Moulder, Jr. and Hongbo Lu, Ph.D. as Class I directors for a three-year term and ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

The most recent analyst rating on (ZBIO) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Zenas BioPharma, Inc. stock, see the ZBIO Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
Zenas BioPharma to Present at Jefferies Conference
Positive
Jun 4, 2025

Zenas BioPharma announced its participation in the Jefferies Global Healthcare Conference in June 2025, where it will present its investor presentation. The company is advancing its clinical trials for Obexelimab, a potentially highly differentiated therapy for autoimmune diseases, with significant upcoming data readouts expected in late 2025 and mid-2026. These developments could position Zenas BioPharma as a competitive player in the biotechnology market, potentially impacting stakeholders positively.

The most recent analyst rating on (ZBIO) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Zenas BioPharma, Inc. stock, see the ZBIO Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 17, 2025