$17.40
+1.6%Zenas BioPharma, Inc., a clinical-stage biopharmaceutical company, engages in the development and commercialization of transformative immunology-based therapies. Its lead product candidate is obexelimab, a bifunctional monoclonal antibody for various indications, including immunoglobulin G4-related disease, multiple sclerosis, systemic lupus erythematosus, and warm autoimmune hemolytic anemia. The company also develops ZB002, an anti-TNFa monoclonal antibody; ZB004, a cytotoxic T-lymphocyte-associated antigen 4-immunoglobulin fusion; ZB001, an anti-insulin-like growth factor-1 receptor monoclonal antibody; and ZB005, an anti-active complement component 1s monoclonal antibody. Zenas BioPharma, Inc. was formerly known as Zenas BioPharma (Cayman) Limited and changed its name to Zenas BioPharma, Inc. in August 2023. The company was incorporated in 2019 and is based in Waltham, Massachusetts.
Weak cash conversion. Significant portion of earnings not converting to cashโreview working capital trends and capital intensity.
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
ZBIO โข NASDAQ
| Zenas BioPharma, Inc. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
OPERATING ACTIVITIES | ||||
-377.7M | -157M | -37.1M | -119.3M | |
-1.9M | 137K | 113K | 78K | |
26.3M | 10.8M | 3.5M | 737K | |
180M | 925K | 11M | 44.8M | |
951K | 25.4M | -8M | 8M | |
-172.3M | -119.7M | -30.5M | -65.7M | |
INVESTING ACTIVITIES | ||||
-18K | -131K | -17K | -198K | |
-417.8M | -36.4M | (0.0) | (0.0) | |
200.9M | 6M | 0.0 | 0.0 | |
-35M | 0.0 | 0.0 | -2M | |
-251.9M | -30.6M | -17K | -2.2M | |
FINANCING ACTIVITIES | ||||
152.9M | 240.6M | 116K | 0.0 | |
0.0 | 0.0 | 20M | 0.0 | |
62.3M | -6.1M | 0.0 | 0.0 | |
215.3M | 413M | 20.1M | 59.4M | |
CASH FLOW SUMMARY | ||||
-252K | 157K | 78K | -41K | |
-209.2M | 262.9M | -10.4M | -8.5M | |
319.8M | 56.9M | 67.3M | 75.8M | |
110.6M | 319.8M | 56.9M | 67.3M | |
-172.4M | -119.8M | -30.5M | -67.9M |
ZBIO - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
10-Q 10-Q 2026 Q1 Q1 | May 13, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 13, 2026 | May 11, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 31, 2026 | March 26, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | March 16, 2026 | May 11, 2026 | 2026 | |
10-K 10-K 2025 FY FY | March 16, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | March 16, 2026 | March 16, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 13, 2026 | February 10, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 05, 2026 | January 05, 2026 | 2026 | |
8-K 8-K 2025 N/A | December 15, 2025 | December 10, 2025 | 2025 | |
8-K 8-K 2025 N/A | November 12, 2025 | November 12, 2025 | 2025 |
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