Zenas BioPharma (ZBIO) Operating Expenses (2023 - 2026)
Zenas BioPharma (ZBIO) recorded Operating Expenses of $108.66 million in Q2 2026, up 97.0% from $55.16 million a year earlier and up 40.5% from the prior quarter.
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Analysis
Zenas BioPharma (ZBIO) Operating Expenses (2023 - 2026) Analysis & Trends
On a TTM basis, Zenas BioPharma's Operating Expenses came in at $476.57 million as of Jun 30, 2026, up 133.5% year-over-year; for FY2025, it was $393.06 million, up 132.7% from FY2024.
- Across earlier years, Operating Expenses came in at $168.89 million in FY2024 (+93.8%) and $87.15 million in FY2023.
- Quarterly Operating Expenses has ranged from $14.38 million in Q3 2023 to $237.98 million in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for eight consecutive quarters, with growth averaging 115.2% over the last eight quarters.
- Over the past five years, the year-over-year growth in Operating Expenses ranged from 28.3% (Q3 2025) to 292.6% (Q4 2025).
- Per Business Quant, the preceding three quarters came in at $77.35 million (Q1 2026), $237.98 million (Q4 2025) and $52.58 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Zenas BioPharma | 1.74 Bn | 1.74 Bn | - | 108.66 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 108.66 Mn |
| Mar 31, 2026 | 77.35 Mn |
| Dec 31, 2025 | 237.98 Mn |
| Sep 30, 2025 | 52.58 Mn |
| Jun 30, 2025 | 55.16 Mn |
| Mar 31, 2025 | 47.33 Mn |
| Dec 31, 2024 | 60.62 Mn |
| Sep 30, 2024 | 40.98 Mn |
| Jun 30, 2024 | 39.70 Mn |
| Mar 31, 2024 | 27.58 Mn |
| Dec 31, 2023 | 24.78 Mn |
| Sep 30, 2023 | 14.38 Mn |
API Access
Zenas BioPharma Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ZBIO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ZBIO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ZBIO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();