Zenas BioPharma, Inc. (ZBIO)
NASDAQ:ZBIO
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Zenas BioPharma, Inc.
(NASDAQ:ZBIO)
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Rating:49Neutral
Price Target:
$20.00
▼(-8.34% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (heavy losses, volatile/low revenue, and large cash burn) and a weak technical setup (below key moving averages with negative MACD). These are partially offset by favorable corporate developments, including positive Phase 3 data and financing that extends the cash runway into 2029.
Positive Factors
Positive Phase 3 data for obexelimab
Robust INDIGO Phase 3 results (56% flare-risk reduction) materially de-risk the lead asset, supporting regulatory submissions and a potential first-in-class launch. This outcome strengthens long-term commercial prospects and justifies continued late-stage investment and partner interest.
Negative Factors
High operating cash burn
Sustained negative operating cash flow (~$210M TTM) means the business consumes large cash to fund operations and trials. Unless revenue or margins improve, the company will remain dependent on external financing, creating recurring dilution and execution pressure over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Phase 3 data for obexelimab
Robust INDIGO Phase 3 results (56% flare-risk reduction) materially de-risk the lead asset, supporting regulatory submissions and a potential first-in-class launch. This outcome strengthens long-term commercial prospects and justifies continued late-stage investment and partner interest.
Read all positive factors
Zenas BioPharma, Inc. (ZBIO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14B
Dividend YieldN/A
Average Volume (3M)506.78K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth-100.00%
EPS Growth-128.73%
CountryUS
Employees130
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-9.10
Shares Outstanding63,133,377
10 Day Avg. Volume566,469
30 Day Avg. Volume506,776
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)6.71
Price to Sales (P/S)162.41
P/FCF Ratio-9.42
Enterprise Value/Market Cap0.60
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-14.16
Enterprise Value/Ebitda-1.64
Forecast
1Y Price Target
$43.67Price Target Upside100.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-4.71
Revenue Forecast (FY)$30.22M
Zenas BioPharma, Inc. Business Overview & Revenue Model
Company Description
Zenas 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 vari...
How the Company Makes Money
null...
Zenas BioPharma, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 10.00M | 5.00M | 50.00M | 0.00 |
| Gross Profit | -48.03M | 10.00M | -134.14M | 50.00M | -61.69M |
| EBITDA | -414.39M | -370.43M | -163.75M | -27.03M | -75.12M |
| Net Income | -425.15M | -377.74M | -156.99M | -37.12M | -119.28M |
Balance Sheet | |||||
| Total Assets | 747.68M | 383.64M | 369.97M | 68.18M | 74.58M |
| Cash, Cash Equivalents and Short-Term Investments | 717.21M | 343.19M | 350.77M | 56.86M | 67.21M |
| Total Debt | 351.73M | 79.96M | 1.00M | 21.11M | 1.53M |
| Total Liabilities | 411.85M | 141.50M | 57.51M | 293.90M | 266.87M |
| Stockholders Equity | 335.83M | 242.14M | 312.46M | -225.72M | -192.29M |
Cash Flow | |||||
| Free Cash Flow | -210.48M | -172.35M | -119.81M | -30.55M | -67.85M |
| Operating Cash Flow | -210.48M | -172.33M | -119.67M | -30.53M | -65.65M |
| Investing Cash Flow | -134.00M | -251.89M | -30.55M | -17.00K | -2.20M |
| Financing Cash Flow | 648.66M | 215.28M | 412.96M | 20.12M | 59.39M |
Zenas BioPharma, Inc. Technical Analysis
Negative
21.82
Price Trends
20.10
Negative
21.29
Negative
24.57
Negative
Market Momentum
-0.50
Negative
45.96
Neutral
53.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBIO, the sentiment is Negative. The current price of 21.82 is above the 20-day moving average (MA) of 19.30, above the 50-day MA of 20.10, and below the 200-day MA of 24.57, indicating a bearish trend. The MACD of -0.50 indicates Negative momentum. The RSI at 45.96 is Neutral, neither overbought nor oversold. The STOCH value of 53.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ZBIO.
Zenas BioPharma, Inc. Risk Analysis
Zenas BioPharma, Inc. disclosed 86 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 0 New Risks
Zenas BioPharma, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $916.57M | 5.55 | 129.32% | ― | 2889.93% | ― | |
53 Neutral | $319.69M | -4.18 | -58.82% | ― | ― | 29.97% | |
53 Neutral | $1.43B | -10.81 | 121.52% | ― | 52.92% | 13.32% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $856.58M | -5.38 | 39.24% | ― | 150.30% | 59.74% | |
49 Neutral | $1.14B | -2.43 | -167.71% | ― | -100.00% | -128.73% | |
41 Neutral | $593.50M | -3.33 | -106.22% | ― | -9.42% | -67.60% |
* Healthcare Sector Average
ZBIO
Zenas BioPharma, Inc.
18.40
8.88
93.28%
ABUS
Arbutus Biopharma
4.56
1.20
35.71%
RZLT
Rezolute
3.30
-0.82
-19.90%
URGN
Urogen Pharma
28.13
23.89
563.44%
PHAT
Phathom Pharmaceuticals
9.59
5.34
125.65%
VALN
Valneva
6.25
-0.05
-0.79%
Zenas BioPharma, Inc. Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
Zenas BioPharma Highlights Strong Q1 Progress and Financing
Positive
May 13, 2026
On May 11, 2026, Zenas BioPharma stockholders approved two Class II directors for new three-year terms, accepted the resignation of director Tomas Kiselak, and reduced the board size by one, while also ratifying Ernst Young as the auditor for the...
Business Operations and StrategyPrivate Placements and Financing
Zenas BioPharma Raises Capital via Notes and Equity Offering
Neutral
Apr 1, 2026
On March 31, 2026, Zenas BioPharma completed a $200 million public offering of 2.50% Convertible Senior Notes due 2032 and a concurrent equity offering of 5 million common shares at $20 each, raising net proceeds of about $193.7 million and $93.7 ...
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.