Event-Driven Stocks

Zenas BioPharma, Inc.

ZBIONasdaq

Healthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕

View price & chart on Yahoo Finance ↗
Signs● 3 good● 3 warning● 1 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23
Revenue$10.0M$5.0M$50.0M
Operating income−$383.1M−$163.9M−$37.1M
Net income−$377.7M−$157.0M−$37.1M
Total assets$383.6M$370.0M$68.2M
Total liabilities$141.5M$57.5M$43.8M
Equity$242.1M$312.5M−$225.7M
EPS (diluted)$-8.44$-11.89$-24.25
Shares out.41.8M41.8M1.6M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−3830.6%
Net margin
−3777.4%
Return on equity
−156.0%
Return on assets
−98.5%
Return on capital (ROCE)
−119.3%
Liabilities / assets
36.9%
Debt / equity
0.58×
Book value / share
$5.79
Revenue growth (YoY)
100.0%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-6.48distress
Accruals / assets
−53.5%clean
Piotroski F-Score
2/9weak

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
62
/ 100
Profitability 0Growth 100Catalyst 67Earnings quality 67Financial strength 75

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 severe● 3 warning● 3 good
  • Altman Z″ in the distress zone
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Negative operating cash flow
  • Revenue is growing year-over-year
  • Conservative leverage (liabilities < 50% of assets)
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Clinical trials

ClinicalTrials.gov · ongoing · next readout first

Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 202610.7M21.3-1.5%
Apr 30, 202610.9M24.0+6.2%
Apr 15, 202610.2M12.4+9.2%
Mar 31, 20269.4M7.5+21.4%
Mar 13, 20267.7M22.3-3.9%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)

Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.