Zenas BioPharma, Inc. (ZBIO)

Revenue by Segment

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Research and Development of Precision Immunology-Based Therapies	10.00M	5.00M	50.00M
Research and Development of Precision Immunology-Based Therapies Growth	100.00%	-90.00%	-
Total	10.00M	5.00M	50.00M
Total Growth	100.00%	-90.00%	-

Revenue by Geography

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
United States	10.00M	5.00M	50.00M
United States Growth	100.00%	-90.00%	-
Total	10.00M	5.00M	50.00M
Total Growth	100.00%	-90.00%	-

Source: S&P Global Market Intelligence.