# Zenas BioPharma, Inc.: financial statements, quarterly

ZBIO · Nasdaq · CIK 1953926 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/zbio.md) · [Financials](/companies/zbio/financials.md) · [Filings](/companies/zbio/filings.md) · [Insiders](/companies/zbio/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/zbio/financials.md?period=annual).

## Income statement

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [50.0](/filings/0001558370-24-015162.md) | [0.0 d](/filings/0001558370-25-002631.md) | not reported | [0.0](/filings/0001558370-25-011147.md) | [0.0](/filings/0001104659-25-109753.md) | [5.0 d](/filings/0001104659-26-027964.md) | [10.0](/filings/0001104659-26-059735.md) | [0.0](/filings/0001558370-25-011147.md) | [0.0](/filings/0001104659-25-109753.md) | [0.0 d](/filings/0001104659-26-027964.md) | not reported | [1.0](/filings/0001104659-26-095448.md) |
| Research and development | $m | [9.4](/filings/0001558370-24-015162.md) | [20.4 d](/filings/0001558370-25-002631.md) | [22.6](/filings/0001558370-25-007803.md) | [33.8](/filings/0001558370-25-011147.md) | [33.5](/filings/0001104659-25-109753.md) | [49.2 d](/filings/0001104659-26-027964.md) | [34.9](/filings/0001104659-26-059735.md) | [43.0](/filings/0001104659-26-095448.md) | [34.4](/filings/0001104659-25-109753.md) | [55.7 d](/filings/0001104659-26-027964.md) | [60.4](/filings/0001104659-26-059735.md) | [62.9](/filings/0001104659-26-095448.md) |
| Operating income | $m | [35.6](/filings/0001558370-24-015162.md) | [(24.8) d](/filings/0001558370-25-002631.md) | [(27.6)](/filings/0001558370-25-007803.md) | [(39.7)](/filings/0001558370-25-011147.md) | [(41.0)](/filings/0001104659-25-109753.md) | [(55.6) d](/filings/0001104659-26-027964.md) | [(37.3)](/filings/0001104659-26-059735.md) | [(55.2)](/filings/0001104659-26-095448.md) | [(52.6)](/filings/0001104659-25-109753.md) | [(238) d](/filings/0001104659-26-027964.md) | [(77.4)](/filings/0001104659-26-059735.md) | [(108)](/filings/0001104659-26-095448.md) |
| Income tax | $m | not reported | not reported | not reported | not reported | not reported | not reported | [(0.2)](/filings/0001104659-26-059735.md) | [0.0](/filings/0001104659-26-095448.md) | [0.0 d](/filings/0001104659-25-109753.md) | [0.1 d](/filings/0001104659-26-027964.md) | not reported | [0.1](/filings/0001104659-26-095448.md) |
| Net income | $m | [35.6](/filings/0001558370-24-015162.md) | [(24.6) d](/filings/0001558370-25-002631.md) | [(27.8)](/filings/0001104659-25-109753.md) | [(38.0)](/filings/0001104659-25-109753.md) | [(38.6)](/filings/0001104659-25-109753.md) | [(52.6) d](/filings/0001104659-26-027964.md) | [(33.6)](/filings/0001104659-26-095448.md) | [(52.2)](/filings/0001104659-26-095448.md) | [(51.5)](/filings/0001104659-25-109753.md) | [(240) d](/filings/0001104659-26-027964.md) | [(81.0)](/filings/0001104659-26-095448.md) | [(111)](/filings/0001104659-26-095448.md) |
| Diluted EPS | $ per share | [1.96](/filings/0001558370-24-015162.md) | not reported | [(17.89)](/filings/0001558370-25-007803.md) | [(24.23)](/filings/0001558370-25-011147.md) | [(5.02)](/filings/0001104659-25-109753.md) | not reported | [(0.80)](/filings/0001104659-26-059735.md) | [(1.25)](/filings/0001104659-26-095448.md) | [(1.22)](/filings/0001104659-25-109753.md) | not reported | [(1.46)](/filings/0001104659-26-059735.md) | [(1.77)](/filings/0001104659-26-095448.md) |
| Basic EPS | $ per share | [2.42](/filings/0001558370-24-015162.md) | not reported | [(17.89)](/filings/0001558370-25-007803.md) | [(24.23)](/filings/0001558370-25-011147.md) | [(5.02)](/filings/0001104659-25-109753.md) | not reported | [(0.80)](/filings/0001104659-26-059735.md) | [(1.25)](/filings/0001104659-26-095448.md) | [(1.22)](/filings/0001104659-25-109753.md) | not reported | [(1.46)](/filings/0001104659-26-059735.md) | [(1.77)](/filings/0001104659-26-095448.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [72.3](/filings/0001558370-24-015162.md) | [56.9](/filings/0001558370-25-002631.md) | [37.2](/filings/0001558370-25-007803.md) | [184](/filings/0001558370-25-011147.md) | [360](/filings/0001104659-25-109753.md) | [320](/filings/0001104659-26-027964.md) | [197](/filings/0001558370-25-007803.md) | [44.0](/filings/0001558370-25-011147.md) | [116](/filings/0001104659-25-109753.md) | [111](/filings/0001104659-26-095448.md) | [500](/filings/0001104659-26-059735.md) | [197](/filings/0001104659-26-095448.md) |
| Current assets | $m | not reported | [59.8](/filings/0001558370-25-002631.md) | not reported | not reported | [394](/filings/0001558370-24-015162.md) | [356](/filings/0001104659-26-027964.md) | [318](/filings/0001558370-25-007803.md) | [279](/filings/0001558370-25-011147.md) | [297](/filings/0001104659-25-109753.md) | [351](/filings/0001104659-26-095448.md) | [730](/filings/0001104659-26-059735.md) | [654](/filings/0001104659-26-095448.md) |
| Total assets | $m | not reported | [68.2](/filings/0001558370-25-002631.md) | not reported | not reported | [403](/filings/0001558370-24-015162.md) | [370](/filings/0001104659-26-027964.md) | [334](/filings/0001558370-25-007803.md) | [293](/filings/0001558370-25-011147.md) | [322](/filings/0001104659-25-109753.md) | [384](/filings/0001104659-26-095448.md) | [748](/filings/0001104659-26-059735.md) | [702](/filings/0001104659-26-095448.md) |
| Current liabilities | $m | not reported | [23.3](/filings/0001558370-25-002631.md) | not reported | not reported | [44.0](/filings/0001558370-24-015162.md) | [57.3](/filings/0001104659-26-027964.md) | [49.1](/filings/0001558370-25-007803.md) | [53.2](/filings/0001558370-25-011147.md) | [52.4](/filings/0001104659-25-109753.md) | [62.6](/filings/0001104659-26-095448.md) | [61.2](/filings/0001104659-26-059735.md) | [65.8](/filings/0001104659-26-095448.md) |
| Total liabilities | $m | not reported | [43.8](/filings/0001558370-25-002631.md) | not reported | not reported | [44.0](/filings/0001558370-24-015162.md) | [57.5](/filings/0001104659-26-027964.md) | [49.4](/filings/0001558370-25-007803.md) | [53.5](/filings/0001558370-25-011147.md) | [126](/filings/0001104659-25-109753.md) | [141](/filings/0001104659-26-095448.md) | [412](/filings/0001104659-26-059735.md) | [455](/filings/0001104659-26-095448.md) |
| Long-term debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | [73.0](/filings/0001104659-25-109753.md) | [78.6](/filings/0001104659-26-027964.md) | not reported | not reported |
| Shareholders' equity | $m | [(202)](/filings/0001558370-24-015162.md) | [(226)](/filings/0001104659-26-027964.md) | [(252)](/filings/0001104659-25-109753.md) | [(289)](/filings/0001104659-25-109753.md) | [359](/filings/0001104659-25-109753.md) | [312](/filings/0001104659-26-095448.md) | [284](/filings/0001104659-26-095448.md) | [240](/filings/0001104659-26-095448.md) | [196](/filings/0001104659-25-109753.md) | [242](/filings/0001104659-26-095448.md) | [336](/filings/0001104659-26-095448.md) | [247](/filings/0001104659-26-095448.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | period not labelled (2023-12-31) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(15.4) d](/filings/0001558370-25-002631.md) | [(19.1)](/filings/0001558370-25-007803.md) | [(31.0) d](/filings/0001558370-25-011147.md) | [(31.1) d](/filings/0001104659-25-109753.md) | [(38.6) d](/filings/0001104659-26-027964.md) | [(37.1)](/filings/0001104659-26-059735.md) | [(41.7) d](/filings/0001104659-26-095448.md) | [(41.1) d](/filings/0001104659-25-109753.md) | [(52.4) d](/filings/0001104659-26-027964.md) | [(75.2)](/filings/0001104659-26-059735.md) | [(57.2) d](/filings/0001104659-26-095448.md) |
| Capital expenditure | $m | not reported | [0.0](/filings/0001558370-25-007803.md) | [0.0 d](/filings/0001558370-25-011147.md) | [0.0 d](/filings/0001104659-25-109753.md) | [0.1 d](/filings/0001104659-26-027964.md) | [0.0](/filings/0001104659-26-059735.md) | [0.0 d](/filings/0001104659-26-095448.md) | [0.0 d](/filings/0001104659-25-109753.md) | [0.0 d](/filings/0001104659-26-027964.md) | [0.0](/filings/0001104659-26-059735.md) | [0.0 d](/filings/0001104659-26-095448.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | period not labelled (2023-09-30) | period not labelled (2024-03-31) | period not labelled (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [1.9](/filings/0001558370-24-015162.md) | [1.6](/filings/0001558370-25-007803.md) | [1.6](/filings/0001558370-25-011147.md) | [7.7](/filings/0001104659-25-109753.md) | [41.8](/filings/0001104659-26-059735.md) | [41.9](/filings/0001104659-26-095448.md) | [42.2](/filings/0001104659-25-109753.md) | [55.6](/filings/0001104659-26-059735.md) | [63.1](/filings/0001104659-26-095448.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 65,176,723 at 2026-07-31, from the cover of the [10-Q filed 2026-08-13](/filings/0001104659-26-095448.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:50 ET. No prices; not investment advice.