Quick Answer
Zenas BioPharma, Inc. reported R&D Expense of $168.06 million for fiscal year 2025.
Zenas BioPharma, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $168.06M | +20.8% |
| 2024 | $139.14M | +131.8% |
| 2023 | $60.03M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $34.40M | +2.6% | -20.0% |
| June 30, 2025 | $43.03M | +27.3% | +23.2% |
| March 31, 2025 | $34.91M | +54.2% | +4.1% |
| September 30, 2024 | $33.53M | +258.5% | -0.8% |
| June 30, 2024 | $33.81M | — | +49.3% |
| March 31, 2024 | $22.64M | — | +142.1% |
| September 30, 2023 | $9.35M | — | — |
- Zenas BioPharma, Inc. showed an increase of +20.8% in R&D Expense compared to the prior fiscal year.
- Over the 2023–2025 period, Zenas BioPharma, Inc.’s r&d expense has grown by 180.0% (from $60.03 million to $168.06 million).
- The most recent figure is from Zenas BioPharma, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 16, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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