ZBIO Q3 2025 Earnings — Zenas BioPharma, Inc. Revenue & Financial Results | Market Cap Arena

ZBIOZenas BioPharma, Inc.

$1B

Q3 2025 Earnings

Healthcare Biotechnology

Income Statement

Revenue

$0

Gross Profit

-$5M

Operating Income

-$53M

Net Income

-$51M

EPS (Diluted)

$-1.22

QoQ Revenue Growth

NaN%

Cash Flow

Operating Cash Flow

-$41M

Free Cash Flow

-$41M

Stock-Based Comp.

$7M

Balance Sheet

Total Assets

$322M

Total Liabilities

$126M

Stockholders' Equity

$196M

Cash & Equivalents

$116M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$0	$0	—
Gross Profit	-$5M	-$34M	+85.1%
Operating Income	-$53M	-$41M	-28.3%
Net Income	-$51M	-$39M	-33.4%