ZBIOZenas BioPharma, Inc.
Pharmaceutical Preparations
- Revenue
- $10M
- 100% YoY
- Operating margin
- -3830.6%
- 17% YoY
- EBITDA
- −$383M
- 134% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$118M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired263% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | $50M | $5M | $10M | 100% |
| Operating income | −$37M | −$164M | −$383M | 134% |
| Net income | −$37M | −$157M | −$378M | 141% |
| Operating cash flow | −$31M | −$120M | −$172M | 44% |
| Capex | $17K | $131K | $18K | 86% |
| Stock-based comp | $3M | $11M | $26M | 143% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.