Zenas BioPharma (ZBIO) Operating Expenses (2023 - 2025)

Zenas BioPharma has reported Operating Expenses over the past 3 years, most recently at $238.0 million for Q4 2025.

  • Quarterly results put Operating Expenses at $238.0 million for Q4 2025, up 292.56% from a year ago — trailing twelve months through Dec 2025 was $393.1 million (up 132.73% YoY), and the annual figure for FY2025 was $393.1 million, up 132.73%.
  • Operating Expenses for Q4 2025 was $238.0 million at Zenas BioPharma, up from $52.6 million in the prior quarter.
  • Over the last five years, Operating Expenses for ZBIO hit a ceiling of $238.0 million in Q4 2025 and a floor of $14.4 million in Q3 2023.
  • Median Operating Expenses over the past 3 years was $44.2 million (2024), compared with a mean of $60.1 million.
  • Peak annual rise in Operating Expenses hit 292.56% in 2025, while the deepest fall reached 28.29% in 2025.
  • Zenas BioPharma's Operating Expenses stood at $24.8 million in 2023, then soared by 144.65% to $60.6 million in 2024, then surged by 292.56% to $238.0 million in 2025.
  • The last three reported values for Operating Expenses were $238.0 million (Q4 2025), $52.6 million (Q3 2025), and $55.2 million (Q2 2025) per Business Quant data.