Zenas BioPharma (ZBIO) Operating Expenses (2023 - 2026)

Zenas BioPharma's Operating Expenses history runs 4 years deep, the most recent figure standing at $77.4 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 63.43% year-over-year to $77.4 million; the TTM figure through Mar 2026 stood at $423.1 million (up 124.28% YoY), while the FY2025 annual figure was $393.1 million, up 132.73% from the prior year.
• Operating Expenses was $77.4 million for Q1 2026 at Zenas BioPharma, down from $238.0 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $238.0 million in Q4 2025 to a low of $14.4 million in Q3 2023.
• Historically, Operating Expenses has averaged $61.7 million across 4 years, with a median of $47.3 million in 2025.
• Biggest YoY gain for Operating Expenses was 292.56% in 2025; the steepest drop was 28.29% in 2025.
• A 4-year view of Operating Expenses shows it stood at $24.8 million in 2023, then surged by 144.65% to $60.6 million in 2024, then jumped by 292.56% to $238.0 million in 2025, then slumped by 67.5% to $77.4 million in 2026.
• The last three Operating Expenses figures came in at $77.4 million (Q1 2026), $238.0 million (Q4 2025), and $52.6 million (Q3 2025), per Business Quant data.