Zenas BioPharma Valuation Multiples

Zenas BioPharma Overview

About Zenas BioPharma

Zenas BioPharma Inc is a clinical-stage biopharmaceutical company. Its I&I product candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcyRIIb, which are present across B cell lineage, in order to inhibit the activity of cells that are implicated in many autoimmune diseases without depleting them.

Founded

2019

HQ

Employees

130

Website

zenasbio.com

Sectors

BiopharmaceuticalsBioTech

Financials (LTM)

Revenue: $10M

EBITDA: ($343M)

EV

$1B

Valuation Multiples

Multiples.vc

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Zenas BioPharma Financials

Zenas BioPharma reported last 12-month revenue of $10M and negative EBITDA of ($343M).

In the same LTM period, Zenas BioPharma generated $9M in gross profit, ($343M) in EBITDA losses, and had net loss of ($359M).

Zenas BioPharma P&L

In the most recent fiscal year, Zenas BioPharma reported revenue of $5M and EBITDA of ($164M).

Zenas BioPharma expects next 12-month revenue of XXX and NTM EBITDA of XXX

Zenas BioPharma Stock Performance

Zenas BioPharma has current market cap of $1B, and enterprise value of $1B.

Zenas BioPharma's stock price is $26.35.

Zenas BioPharma Valuation Multiples

Zenas BioPharma trades at 114.0x EV/Revenue multiple, and (3.3x) EV/EBITDA.

Zenas BioPharma Financial Valuation Multiples

As of March 21, 2026, Zenas BioPharma has market cap of $1B and EV of $1B.

Equity research analysts estimate Zenas BioPharma's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Zenas BioPharma has a P/E ratio of (3.9x).

Zenas BioPharma Margins & Growth Rates

Zenas BioPharma's revenue in the last 12 month grew by 112%.

Zenas BioPharma's revenue per employee in the last FY averaged $0.1M.

Zenas BioPharma's rule of 40 is (3364%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zenas BioPharma's rule of X is (3195%) (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Zenas BioPharma Public Comps

See public comps and valuation multiples for other Biopharmaceuticals comps.

Zenas BioPharma M&A Activity

Zenas BioPharma acquired XXX companies to date.

Last acquisition by Zenas BioPharma was on XXXXXXXX, XXXXX. Zenas BioPharma acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Zenas BioPharma Investment Activity

Zenas BioPharma invested in XXX companies to date.

Zenas BioPharma made its latest investment on XXXXXXXX, XXXXX. Zenas BioPharma invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).