ZENAS BIOPHARMA INC (ZBIO)
Health Care · Clinical-stage immunology biopharmaceuticals · NASDAQ
Zenas BioPharma is a clinical-stage immunology company developing obexelimab, a novel bifunctional B cell-inhibiting monoclonal antibody, and orelabrutinib, a CNS-penetrant BTK inhibitor, for multiple high-value autoimmune disease indications.
What ZENAS BIOPHARMA INC does
Zenas BioPharma is a clinical-stage immunology-focused biopharmaceutical company developing transformative therapies for autoimmune diseases. The company's lead candidate, obexelimab, is a bifunctional monoclonal antibody targeting CD19 and FcγRIIb to inhibit B cell activity without full depletion across multiple autoimmune indications. The company is also developing orelabrutinib, a Bruton's Tyrosine Kinase inhibitor, for progressive forms of multiple sclerosis.
Themes: ["Autoimmune disease therapeutics","B cell inhibition / immunology","IgG4-related disease (IgG4-RD)","Relapsing multiple sclerosis (RMS)","Systemic lupus erythematosus (SLE)","Primary progressive multiple sclerosis (PPMS)","Monoclonal antibody development","BTK inhibitors"]
Fundamentals
- Price$29.43 as of 2026-07-09 close
- Market cap$1.8B as of 2026-07-10
- 1-year return+188.5% as of 2026-07-09 close
- Net margin-3777.4% as of 2026-07-10
- ROE-167.7% as of 2026-07-10
- Debt / equity1.04 as of 2026-07-10
- Revenue CAGR (3y)-55.3% SEC XBRL
- Beta0.70 as of 2026-07-10
Key risks (from latest filing)
["Dependency on clinical trial success: obexelimab is still in Phase 2/3 development across multiple indications with regulatory approval not yet secured; orelabrutinib is in Phase 3 for PPMS with no guarantee of efficacy or approval.","Significant cash burn and capital needs: the company reported a net margin of -3777%, indicating very high R&D and operational expenses relative to any revenue, requiring substantial additional financing to support ongoing and future clinical development.","Competitive landscape in B cell therapies and BTK inhibitors: established competitors already market anti-CD20 and anti-CD19 agents with proven clinical efficacy and established market presence, which may limit obexelimab's differentiation and commercial potential if clinical or safety data does not clearly demonstrate superiority."]
Competitors & peers
- Roche/Genentech (rituximab, ocrelizumab in B cell-targeting space)
- Biogen (ocrelizumab for MS)
- Merck (ofatumumab for MS)
- AbbVie (rinvoq, a JAK inhibitor competitor in autoimmune space)
- Celgene/BeiGene (orelabrutinib licensor; BTK inhibitor competitors)
- Pharmacyclics/AbbVie (ibrutinib, BTK inhibitor)
- Exelixis (cabozantinib-related competition in kinase space)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.