Stocks Health care ZBIO
NASDAQ · Health careZenas BioPharma, Inc. (ZBIO)
It posted a net loss of $541.8M. In fiscal 2025 capital spending exceeded operating cash flow by $172.4M. At September 30, 2026 it held $177.8M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 5, 2026.
Key facts about Zenas BioPharma, Inc.
- Net worth
- Zenas BioPharma, Inc. has a market value (market cap) of $1.9B at the latest share price, and shareholders' equity of $212.3M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $10M (+100.0% year on year), with a net loss of $377.7M.
- Cash flow
- In fiscal 2025 operations used $172.3M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 5, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Zenas BioPharma, Inc.'s next report is expected around January 4, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Zenas BioPharma, Inc. does
Zenas BioPharma, Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker ZBIO.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $10M | -$377.7M | -$8.44 | -$172.4M |
| 2024 | $5M | -$157M | -$11.89 | -$119.8M |
| 2024 | $50M | -$37.1M | -$24.25 | -$30.5M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where ZBIO ranks in Health care
Latest SEC filings
What Zenas BioPharma, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Other event 8-K
- November 5, 2026Passive stake changed SCHEDULE 13G/A
- November 5, 2026Quarterly report 10-Q · period to September 30, 2026Revenue was $10M; diluted EPS -$1.65 versus -$1.22.
- November 5, 2026
- October 27, 2026Passive stake (5% or more) SCHEDULE 13G
- October 13, 2026
- September 11, 2026
- September 11, 2026
- September 8, 2026Passive stake (5% or more) SCHEDULE 13G
- September 8, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running Zenas BioPharma, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 18, 2026 | Moulder Leon O JrChief Executive Officer, Director | Boughtindirect | 60,000 | $1M |
| April 29, 2026 | Moulder Leon O JrChief Executive Officer, Director | Boughtindirect | 35,000 | $616.7K |
| April 28, 2026 | Moulder Leon O JrChief Executive Officer, Director | Boughtindirect | 25,000 | $450.5K |
| March 31, 2026 | Lu HongboDirector | Boughtindirect | 3,768 | $70.2K |
| March 31, 2026 | Fairmount Funds Management LLCDirector | Boughtindirect | 150,000 | $3M |
| March 31, 2026 | Lu HongboDirector | Boughtindirect | 75,000 | $1.5M |
| March 31, 2026 | Moulder Leon O JrChief Executive Officer, Director | Boughtindirect | 34,000 | $656.5K |
| March 30, 2026 | Moulder Leon O JrChief Executive Officer, Director | Boughtindirect | 20,000 | $364.6K |
Who owns ZBIO
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Fmr LLC13G, passive with 1 related filers | 14.3% | February 5, 2026 |
| InnoCare Pharma Inc.13G, passive with 2 related filers | 10.4% | September 8, 2026 |
| Wellington Management Group LLP13G, passive with 3 related filers | 10.1% | September 8, 2026 |
| SR One Capital Management, LLC13D, may seek influence with 7 related filers | 7.7% | August 17, 2026 |
| Moulder Leon O JR13D, may seek influence with 2 related filers | 5.09% | May 5, 2026 |
| BlackRock, Inc.13G, passive | 5% | October 27, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 145 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Fmr LLC | 9,506,701 | +424,701 |
| SR One Capital Management, LP | 5,037,854 | 0 |
| NEA Management Company, LLC | 4,023,219 | 0 |
| Enavate Sciences GP, LLC | 3,919,159 | 0 |
| Federated Hermes, Inc. | 3,116,805 | -10,226 |
| BlackRock, Inc. | 2,686,225 | +648,677 |
| Capital International Investors | 2,502,912 | +68,912 |
| Polar Capital Holdings Plc | 2,412,772 | -135,672 |
| Royalty Pharma Sub-Manager, LLC | 2,388,150 | 0 |
| Fairmount Funds Management LLC | 2,359,025 | 0 |
| State Street Corp | 2,055,100 | +584,177 |
| Nvp Associates, LLC | 1,838,482 | 0 |
| Wellington Management Group Llp | 1,593,819 | +347,766 |
| Vanguard Capital Management LLC | 1,354,864 | +109,473 |
| Bank of America Corp | 1,231,159 | +842,812 |
| Geode Capital Management, LLC | 882,654 | +226,869 |
| Alliancebernstein L.P. | 1,103,388 | +206,067 |
| Two Sigma Investments, LP | 815,150 | +540,094 |
| EcoR1 Capital, LLC | 789,500 | 0 |
| Millennium Management LLC | 660,470 | +183,652 |
Insiders
6 insiders reported holding 3,328,270 shares in total, about $95.1M at the last price.
| Holder | Shares |
|---|---|
| Fairmount Funds Management LLCDirector | 2,359,0252,359,025 held indirectly |
| Moulder Leon O JrChief Executive Officer, Director | 520,08396,928 held indirectly |
| Lu HongboDirector | 426,736426,736 held indirectly |
| Allen Patricia LDirector | 19,860 |
| Fox Jennifer A.See Remarks | 1,592 |
| Farmer Joseph LSee Remarks | 974 |
Questions about ZBIO
What does Zenas BioPharma, Inc. do?
Zenas BioPharma, Inc. is a company in the Health care sector, listed on NASDAQ as ZBIO. Its shares trade on NASDAQ under the ticker ZBIO.
What is Zenas BioPharma, Inc.'s net worth?
Zenas BioPharma, Inc. has a market value (market cap) of $1.9B at the latest share price, and shareholders' equity of $212.3M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Zenas BioPharma, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $541.8M.
When did Zenas BioPharma, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 5, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the other event from November 6, 2026.
When is Zenas BioPharma, Inc.'s next earnings report?
Zenas BioPharma, Inc.'s next report is expected around January 4, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Zenas BioPharma, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.