For the quarter ending 2026-03-31, ZBIO had $389,583K increase in cash & cash equivalents over the period. -$75,198K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenue-Zenas Biopharma Hk Limited | 0 | - | - | - |
| Research and development expenses-Obexelimab-Single Reportable Segment | 31,760 | - | - | - |
| Research and development expenses-Orelabrutinib-Single Reportable Segment | 10,101 | - | - | - |
| Research and development expenses-Other Programs Zb002Zb004Zb014Zb021Zb022-Single Reportable Segment | 568 | - | - | - |
| Research and development expenses-Single Reportable Segment-Unallocated | 14,914 | - | - | - |
| General and administrative-Single Reportable Segment | 10,812 | - | - | - |
| Stock-based compensation-Single Reportable Segment | 9,195 | - | - | - |
| Other segment items-Single Reportable Segment | 3,637 | - | - | - |
| Net loss | -80,987 | -240,442 | -51,499 | -85,796 |
| Loss on disposal of property and equipment | - | 0 | 0 | -107 |
| Acquired in-process research and development | - | 166,672 | 5,000 | - |
| Depreciation expense | 6 | 10 | 11 | 35 |
| Net amortization of premiums and accretion of discounts on investments | -110 | -421 | -193 | -1,317 |
| Non-cash interest expense on royalty obligation | 6,263 | 5,648 | 1,679 | - |
| Non-cash interest expense on senior secured term loan | 34 | - | - | - |
| Stock-based compensation expense | 9,195 | 7,580 | 7,336 | 11,431 |
| Non-cash lease expense | 264 | 224 | 205 | 446 |
| Prepaid expenses and other assets | 6,482 | 2,357 | 1,601 | -802 |
| Accounts payable | 1,795 | 1,116 | -1,954 | -9,205 |
| Accrued expenses | -4,963 | 9,801 | 102 | 5,149 |
| Operating lease liabilities | -211 | -245 | -211 | -446 |
| Net cash used in operating activities | -75,196 | -52,414 | -41,125 | -78,794 |
| Purchases of property and equipment | 2 | 0 | 0 | 18 |
| Purchases of investments | 76,520 | 132,893 | 59,195 | 225,667 |
| Proceeds from sales and maturities of investments | 108,133 | 69,529 | 104,238 | 27,120 |
| Product candidate license acquisitions | - | 30,000 | 5,000 | - |
| Net cash provided by (used in) investing activities | 31,611 | -93,364 | 40,043 | -198,565 |
| Payment of deferred offering costs | - | - | 3,324 | - |
| Payment of agent fees and offering costs-Private Placement And At Offering | - | 12,665 | - | - |
| Payments of other offering costs for the atm offering-At Market Offering | 38 | - | - | - |
| Proceeds from royalty obligation | - | 0 | 75,000 | - |
| Payments of debt issuance costs | 474 | - | - | - |
| Proceeds from exercise of stock options | 367 | 1,611 | 664 | 1,821 |
| Proceeds from issuance of common stock under employee stock purchase plan | 592 | 0 | 276 | - |
| Proceeds from issuance of common stock-Private Placement | - | 120,000 | - | - |
| Proceeds from issuance of common stock-At Market Offering | 71,532 | 28,573 | - | - |
| Proceeds from issuance of common stock-Equity Offering | 94,000 | - | - | - |
| Proceeds from senior secured term loan, net of discount | 73,500 | - | - | - |
| Proceeds from the issuance of convertible senior notes, net of commissions | 194,000 | - | - | - |
| Net cash provided by financing activities | 433,479 | 140,843 | 72,616 | 1,821 |
| Effect of exchange rate changes on cash and cash equivalents | -311 | 11 | 25 | -288 |
| Net increase (decrease) in cash and cash equivalents | 389,583 | -4,924 | 71,559 | -275,826 |
| Cash and cash equivalents at beginning of period | 110,641 | 115,565 | 319,832 | - |
| Cash and cash equivalents at end of period | 500,224 | 110,641 | 115,565 | - |
Zenas BioPharma, Inc. (ZBIO)
Zenas BioPharma, Inc. (ZBIO)