NASDAQ$ZBIO

Zenas Biopharma Inc · Q3 2025 earnings

Q3 2025 earnings ·

Briefing

ZBIO reported Q3 2025 a net loss of $38.0M.

For Q3 2025, ZBIO reported net loss was $38.0M. The filing discusses operating performance, liquidity, and outlook in MD&A.

  • Net loss $38.0M.
  • MD&A covers R&D, cash runway, and sector-specific risks.
  • MD&A covers R&D, cash runway, and sector-specific risks.

Headline financials

Total Revenue

$0.00

Previous: $50M-100.0%
EPS

-$1.22

Previous: -$5.02+75.7%
Capital Expenditures

-$18K

Previous: -$57K+68.4%
Free Cash Flow

-$51.5M

Previous: -$38.7M-33.2%
Net Income

-$51.5M

Previous: -$38.6M-33.4%
Operating Income

-$52.6M

Previous: -$41M-28.3%
Gross Profit

$0.00

Previous: $50M-100.0%
Cash & Equivalents

$116M

Previous: $360M-67.9%
Total Assets

$322M

Previous: $403M-20.2%

Revenue & EPS history

Zenas Biopharma Inc · Revenue · Quarterly

$0

Q3 2025-100%vs Q3 2024

Forward guidance

Outlook focuses on cash runway, pipeline milestones, and cost discipline as the company works toward profitability.

Tailwinds

  • Cash and equivalents support operations into upcoming milestones.
  • Clinical or product pipeline progress noted in MD&A.

Headwinds

  • Ongoing operating losses and R&D spend pressure near-term earnings.
  • Financing, dilution, or partnership timing may affect liquidity.

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 Q3 2025

Historical avgQ3 2025

+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

Earnings price reactions
QuarterReport dateReaction (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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