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Zenas BioPharma, Inc. (ZBIO)
NASDAQ:ZBIO
US Market
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Zenas BioPharma, Inc. (ZBIO) AI Stock Analysis

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ZBIO

Zenas BioPharma, Inc.

(NASDAQ:ZBIO)

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Neutral 50 (OpenAI - Gpt-5.6Sol)
Rating:50Neutral
Price Target:
$31.00
▼(-2.05% Downside)
Action:Reiterated
Date:08/18/26
The score is held down primarily by very weak financial performance—large losses, accelerating cash burn, and increased leverage—partly offset by a moderately positive technical setup (price above key longer-term moving averages with neutral momentum). Valuation provides limited support because the negative P/E is driven by losses and no dividend yield is available.
Positive Factors
Regulatory progress
BLA acceptance is a major de-risking milestone that advances obexelimab toward potential commercialization. The 2027 FDA decision date provides a defined path to a first marketed product and could support a durable transition from development to commercial operations.
Negative Factors
Minimal revenue
The company has little current revenue to offset a very large cost base, leaving profitability highly dependent on successful clinical development and future commercialization. This weak earnings foundation can persist until a product reaches meaningful market adoption.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory progress
BLA acceptance is a major de-risking milestone that advances obexelimab toward potential commercialization. The 2027 FDA decision date provides a defined path to a first marketed product and could support a durable transition from development to commercial operations.
Read all positive factors

Zenas BioPharma, Inc. (ZBIO) vs. SPDR S&P 500 ETF (SPY)

Zenas BioPharma, Inc. Business Overview & Revenue Model

Company Description
Zenas BioPharma, Inc. functions as a clinical-stage biopharmaceutical firm, concentrating on the creation and market introduction of innovative, immunology-based treatments. The company's primary investigational therapy is obexelimab, a distinctiv...
How the Company Makes Money
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Zenas BioPharma, Inc. Financial Statement Overview

Summary
Financial performance is very weak: minimal TTM revenue (~$1.0M), very large TTM net loss (~-$484.4M), and substantial ongoing cash burn (TTM operating/free cash flow ~-$226.0M). The balance sheet is a partial offset with positive equity (~$247.1M TTM), but debt has risen sharply (~$223.8M TTM, ~0.91x equity), increasing financing risk.
Income Statement
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
18
Very Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022
Income Statement
Total Revenue1.00M10.00M5.00M50.00M0.00
Gross Profit-59.73M10.00M-134.14M50.00M-61.69M
EBITDA-457.28M-370.43M-156.42M-27.03M-75.12M
Net Income-484.38M-377.74M-156.99M-37.12M-119.28M
Balance Sheet
Total Assets701.69M383.64M369.97M68.18M74.58M
Cash, Cash Equivalents and Short-Term Investments643.13M343.19M350.77M56.86M67.21M
Total Debt389.60M79.96M1.00M21.11M1.53M
Total Liabilities454.59M141.50M57.51M293.90M266.87M
Stockholders Equity247.10M242.14M312.46M-225.72M-192.29M
Cash Flow
Free Cash Flow-225.97M-172.35M-119.81M-30.55M-67.85M
Operating Cash Flow-225.97M-172.33M-119.67M-30.53M-65.65M
Investing Cash Flow-309.41M-251.89M-30.55M-17.00K-2.20M
Financing Cash Flow689.00M215.28M412.96M20.12M59.39M

Zenas BioPharma, Inc. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price31.65
Price Trends
50DMA
29.21
Positive
100DMA
24.26
Positive
200DMA
26.07
Positive
Market Momentum
MACD
0.92
Positive
RSI
56.98
Neutral
STOCH
85.84
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBIO, the sentiment is Positive. The current price of 31.65 is below the 20-day moving average (MA) of 31.68, above the 50-day MA of 29.21, and above the 200-day MA of 26.07, indicating a bullish trend. The MACD of 0.92 indicates Positive momentum. The RSI at 56.98 is Neutral, neither overbought nor oversold. The STOCH value of 85.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
$1.03B6.5490.98%1078.78%
56
Neutral
$485.31M-6.07-58.82%29.97%
55
Neutral
$2.25B-22.9881.78%100.27%39.90%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
50
Neutral
$2.15B-3.39-189.68%-93.33%-127.13%
49
Neutral
$627.47M-3.13-152.15%-21.91%-134.63%
48
Neutral
$709.50M-6.9825.70%110.16%73.04%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ZBIO
Zenas BioPharma, Inc.
32.62
16.62
103.87%
ABUS
Arbutus Biopharma
5.17
1.46
39.35%
RZLT
Rezolute
4.98
-2.14
-30.06%
URGN
Urogen Pharma
45.50
26.05
133.93%
PHAT
Phathom Pharmaceuticals
8.94
-3.24
-26.60%
VALN
Valneva
6.56
-2.29
-25.88%
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.Date of analysis: Aug 18, 2026