NASDAQ$ZBIO
Zenas Biopharma Inc · Q1 2026 earnings
Q1 2026 earnings ·
Briefing
Zenas BioPharma reported Q1 2026 net loss of $81.0M with no revenue versus $10.0M license revenue a year ago.
For the quarter ended March 31, 2026, Zenas recorded no revenue (versus $10.0 million from a Zai license payment in Q1 2025). Net loss was $81.0 million versus $33.6 million a year ago. Accumulated deficit was $846.1 million. Cash used in operations was $75.2 million as the company advances obexelimab and other immunology programs.
- No revenue in Q1 2026; prior year had $10M license revenue.
- Net loss $81.0M on higher development spend.
- Accumulated deficit $846.1M.
- Operating cash use $75.2M in the quarter.
Headline financials
Revenue & EPS history
Zenas Biopharma Inc · Revenue · Quarterly
$10M
Forward guidance
No product revenue guidance; funding dependent on capital markets and partnership economics for pipeline programs.
Tailwinds
- Prior license economics demonstrated partnering capability.
- Multiple clinical programs in immunology.
Headwinds
- Sharp increase in net loss without license revenue.
- Substantial future capital needs disclosed.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 4 quarterly earnings reports · overlaid with Q1 2026
+4.3%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+3.2%
Avg return
30 days after
80%
4 / 5 earnings
Positive
+12.2%
Q1 2025
Best reaction
-3.1%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.9% | -11.7% | +3.0% | |
| Q3 2025 | +1.7% | +1.9% | +15.3% | |
| Q2 2025 | +6.7% | +12.8% | +35.3% | |
| Q1 2025 | +12.2% | +32.3% | +19.0% | |
| Q3 2024 | -3.1% | -19.6% | -56.5% |
Discussion
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