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ZBIO Zenas BioPharma, Inc.

Trailing twelve months to 2025-12-31 · as filed 2026-03-16, not restated
Healthcare

Scale

Market cap
$2.1bn
Revenue TTM
$10m
Net income TTM
$-378m
Free cash flow
$-172m
Composite score
Sector rank
#1617

Valuation

P / E
EV / EBITDA
EV / sales
182.8
FCF yield
-8.24%
Earnings yield vs 10-yr
-22.78pp

Earnings yield vs 10-yr compares what the business earns per pound invested against the 4.73% a 10-year US Treasury note pays for no equity risk. Negative means you are paying up front for growth not yet delivered.

Quality and growth

Net margin
-3,777.4%
EBITDA margin
-3,830.0%
ROE
-156.0%
ROIC
Revenue growth

Insider activity, last 90 days

Net open-market
$0.00m
Buyers
0
Sellers
0

Open-market purchases and sales only. Grants, option exercises, gifts and shares withheld for tax are excluded: they are how people are paid, not what they think.

What management said

The Company is also entitled to receive one-time sales milestone payments up to $ 70.0 million upon BMS achieving certain net sales milestones in a given year in the BMS Territory. Pursuant to the Tenacia Agreement, Tenacia paid the Company a one-time non-refundable upfront cash payment of $ 5.0 million, which was recognized as revenue in the fourth quarter of 2024. The Company is entitled to receive remaining development, regulatory, and sales milestones from Tenacia of up to approximately $ 85.0 million if certain milestones are achieved. …Zenas BioPharma, Inc., 10-Q, period ended 2026-06-30, filed 2026-08-13

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