(ZBIO) Zenas BioPharma, Common - Overview
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 1.158m USD | Total Return: 65.7% in 12m
Avg Turnover: 9.96M
Warnings
Share dilution 33.1% YoY
Interest Coverage Ratio -62.5 is critical
Altman Z'' -5.13 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Confidence
Zenas BioPharma, Inc. (ZBIO) is a clinical-stage biotechnology company focused on developing immunology-based therapies. Its primary candidate, obexelimab, is a monoclonal antibody targeting CD19 and FcγRIIb to treat autoimmune conditions such as multiple sclerosis and systemic lupus erythematosus. The companys pipeline also includes early-stage candidates targeting TNFa, CTLA-4, and IGF-1R.
The company operates within the high-risk, high-reward biotechnology sector, where value is primarily driven by clinical trial milestones and regulatory approvals rather than immediate revenue. ZBIO utilizes a specialized business model centered on bifunctional antibodies, which aim to modulate immune responses more precisely than traditional immunosuppressants. Investors can gain deeper insights into these clinical milestones by reviewing the data on ValueRay.
Headquartered in Waltham, Massachusetts, the firm underwent a corporate restructuring in 2023 to transition from its original Cayman Islands incorporation. Its current focus remains on advancing its lead asset through late-stage clinical trials to address unmet needs in the inflammation and immunology (I&I) market.
- Obexelimab clinical trial results for IgG4-related disease determine near-term valuation
- Pipeline expansion into multiple sclerosis and lupus increases total addressable market
- High research and development expenditures necessitate future capital raises or partnerships
- Regulatory approval timelines for lead candidate obexelimab impact long-term revenue projections
- Competition in the immunology market pressures pricing power for anti-TNFa therapies
| Net Income: -425.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.58 > 0.02 and ΔFCF/TA -13.46 > 1.0 |
| NWC/Revenue: 6.69k% < 20% (prev 1.79k%; Δ 4.90k% < -1%) |
| CFO/TA -0.28 > 3% & CFO -210.5m > Net Income -425.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 11.94 > 1.5 & < 3 |
| Outstanding Shares: last quarter (55.6m) vs 12m ago 33.07% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 1.85% > 50% (prev 4.49%; Δ -2.64% > 0%) |
| Interest Coverage Ratio: -62.50 > 6 (EBITDA TTM -414.4m / Interest Expense TTM 6.63m) |
| A: 0.89 (Total Current Assets 730.2m - Total Current Liabilities 61.2m) / Total Assets 747.7m |
| B: -1.13 (Retained Earnings -846.1m / Total Assets 747.7m) |
| C: -0.77 (EBIT TTM -414.4m / Avg Total Assets 540.7m) |
| D: -2.06 (Book Value of Equity -846.5m / Total Liabilities 411.9m) |
| Altman-Z'' = -5.13 = D |
As of May 24, 2026, the stock is trading at USD 19.84 with a total of 525,954 shares traded.
Over the past week, the price has changed by +3.44%,
over one month by -5.48%,
over three months by -27.43% and
over the past year by +65.68%.
Zenas BioPharma, Common has received a consensus analysts rating of 4.71. Therefore, it is recommended to buy ZBIO.
- StrongBuy: 5
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 42.1 | 112.3% |
P/B = 5.0588
Revenue TTM = 10.0m USD
EBIT TTM = -414.4m USD
EBITDA TTM = -414.4m USD
Long Term Debt = 350.7m USD (estimated: total debt 351.7m - short term 1.04m)
Short Term Debt = 1.04m USD (from shortTermDebt, last quarter)
Debt = 353.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.33m
Net Debt = -334.5m USD (calculated: Debt 353.1m - CCE 687.6m)
Enterprise Value = 823.4m USD (1.16b + Debt 353.1m - CCE 687.6m)
Interest Coverage Ratio = -62.50 (Ebit TTM -414.4m / Interest Expense TTM 6.63m)
EV/FCF = -1.91x (Enterprise Value 823.4m / FCF TTM -431.0m)
FCF Yield = -52.35% (FCF TTM -431.0m / Enterprise Value 823.4m)
FCF Margin = -4.31k% (FCF TTM -431.0m / Revenue TTM 10.0m)
Net Margin = -4.25k% (Net Income TTM -425.2m / Revenue TTM 10.0m)
Gross Margin = unknown ((Revenue TTM 10.0m - Cost of Revenue TTM 48.0m) / Revenue TTM)
Tobins Q-Ratio = 1.10 (Enterprise Value 823.4m / Total Assets 747.7m)
Interest Expense / Debt = 1.88% (Interest Expense 6.63m / Debt 353.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = -327.4m (EBIT -414.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.42 (Total Current Assets 730.2m / Total Current Liabilities 70.1m)
Debt / Equity = 1.05 (Debt 353.1m / totalStockholderEquity, last quarter 335.8m)
Debt / EBITDA = 0.81 (negative EBITDA) (Net Debt -334.5m / EBITDA -414.4m)
Debt / FCF = 0.78 (negative FCF - burning cash) (Net Debt -334.5m / FCF TTM -431.0m)
Total Stockholder Equity = 253.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -78.63% (Net Income -425.2m / Total Assets 747.7m)
RoE = -38.66% (Net Income TTM -425.2m / Total Stockholder Equity 1.10b)
RoCE = -28.58% (EBIT -414.4m / Capital Employed (Equity 1.10b + L.T.Debt 350.7m))
RoIC = -122.6% (out of range, set to none) (NOPAT -327.4m / Invested Capital 267.1m)
WACC = 7.68% (E(1.16b)/V(1.51b) * Re(9.57%) + D(353.1m)/V(1.51b) * Rd(1.88%) * (1-Tc(0.21)))
Discount Rate = 9.57% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 96.61 | Cagr: 18.02%
[DCF] Fair Price = unknown (Cash Flow -431.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.04 | # QB: 0
Revenue Correlation: -68.12 | Revenue CAGR: -55.28% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.76 | Chg30d=+50.97% | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=-1.31 | Chg30d=+2.24% | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=-4.33 | Chg30d=+24.51% | Revisions=-20% | GrowthEPS=+10.3% | GrowthRev=+262.6%
EPS next Year (2027-12-31): EPS=-2.27 | Chg30d=+54.97% | Revisions=-20% | GrowthEPS=+47.7% | GrowthRev=+74.4%
[Analyst] Revisions Ratio: -20%