Company / R&D Expense
Zenas BioPharma, Inc. R&D Expense History
FY2023-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$168.1M
FY2025
5-year range
$60.0M / $168.1M
FY2023-FY2025
Trend
+180.0%
vs FY2024
Sector context
#96 of 210
Health Care
What the data says
At $168M, Zenas BioPharma, Inc.'s r&d expense ranks #96 of 210 in the Health Care sector. Improved from $60M to $168M over the past 2 years.
Based on SEC 10-K filings.
$168M in FY2025.
Improved from $60M to $168M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
#96 of 210 in Health CareTop 46% of 210This company $168.1M Sector average $644.1M
▼
-73.9% below sector average
Key checks
Key Insights
- In FY2025, r&d expense increased 180.0% year-over-year.
- Ranks #96 out of 210 companies in the Health Care sector.
Company context
Key Data Points
- Low Piotroski F-Score: 1/9 (multiple financial health concerns)
- Altman Z-Score -3.51 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $168.1M | +180.0% |
| FY2024 | $60.0M | +0.0% |
| FY2023 | $60.0M | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026