Zenas BioPharma, Inc. is classed by the SEC under Pharmaceutical Preparations (industry code 2834), based in Waltham, MA. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $10 million and a loss of $378 million (its filed statements).
Pre-revenue companyPharmaceutical PreparationsWaltham, MAfilings since 20226 of 9 filed, 3 estimated
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a pre-revenue company: no meaningful revenue on file yet (industry code 2834), so it is read as a pre-revenue company; the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 4.4 out of ten, 6 of 9 metrics filed and 3 estimated: past 3.1 out of ten, present 3.7 out of ten, future 6.0 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 8.2 out of ten. No warning events in its filings since 2022. 82nd percentile among 497 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 2.5 out of ten. -55.3% a year over 3 filed years; profitable in 0 of 3. 25th percentile among 324 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Shareholder treatment (past): 0.4 out of ten. CrossAssetData estimate 0.4/10, confidence 35 of 100 (one part). 4th percentile among 463 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
Financial health (present): 2.8 out of ten. ROE -156%: lost 156¢ per shareholder dollar. Leverage 37%: owes 37¢ per asset dollar. 28th percentile among 472 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 2.2 out of ten. bottom 22% of 314 in its family; net margin -3777.4%. 22nd percentile among 314 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 5.9 out of ten. CrossAssetData estimate 5.9/10, confidence 35 of 100 (one part). 59th percentile among 414 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
Room to expand (future): 4.2 out of ten. bottom 42% of 272 in its family for room to expand. 42nd percentile among 272 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 7.6 out of ten. top 24% of 307 in its family for growth drivers. 76th percentile among 307 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Expectations vs reality (future): 5.3 out of ten. CrossAssetData estimate 5.3/10, confidence 20 of 100 (family median). 50th percentile among 235 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.
The filing record
Newest annual report: Form 10-K filed 2026-03-16 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-13 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-13 for the period ended 2026-08-12 (on EDGAR). Newest filing: Form S-3ASR, 2026-09-11. Filings on record since 2022. Read from EDGAR 2026-10-12.
Who runs it
Moulder, Leon O Jr (Chief Executive Officer); Farmer, Joseph L (President and Chief Operating Officer); Fox, Jennifer A. (Chief Business Officer and Chief Financial Officer); Von, Moltke Lisa (Head of Research and Development and Chief Medical Officer); Oliger, Christy J. (director); Allen, Patricia L (director); Boylan, James P (director); Enright, Patrick G (director); Lu, Hongbo (director); Nunn, Jason Raleigh (director); and 5 more. 15 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.
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