Zenas BioPharma Inc
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 11, 2025
ZBIO$28.58+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · · Years Ended | ||||||
| · · · December 31, | ||||||
| · · 2024 · · 2023 | ||||||
| Cash flows from operating activities: | | | | | | |
| Net loss | | $(156,988) | | $(37,124) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | |
| Acquired in-process research and development | | | — | | | 10,000 |
| Depreciation expense | | | 137 | | | 113 |
| Net amortization of premiums and accretion of discounts on short-term investments | | | (602) | | | — |
| Stock-based compensation expense | | | 10,821 | | | 3,495 |
| Change in fair value of convertible notes | | | 846 | | | 300 |
| Non-cash lease expense | | | 681 | | | 726 |
| Changes in operating assets and liabilities: | | | | | | |
| Prepaid expenses and other assets | | | (7,701) | | | (3,349) |
| Accounts payable | | | 11,740 | | | (418) |
| Accrued expenses | | | 22,065 | | | (3,558) |
| Operating lease liabilities | | | (673) | | | (714) |
| Net cash used in operating activities | | | (119,674) | | | (30,529) |
| Cash flows from investing activities: | | | | | | |
| Purchase of property and equipment | | | (131) | | | (17) |
| Purchase of short-term investments | | | (36,421) | | | — |
| Proceeds from sale and maturities of short-term investments | | | 6,000 | | | — |
| Net cash used in investing activities | | | (30,552) | | | (17) |
| Cash flows from financing activities: | | | | | | |
| Proceeds from issuance of Series C convertible preferred stock, net of issuance costs | | | 178,381 | | | — |
| Proceeds from initial public offering, net of underwriting discount and commissions | | | 240,636 | | | — |
| Payment of initial public offering costs | | | (6,334) | | | — |
| Proceeds from sale of convertible notes | | | — | | | 20,000 |
| Proceeds from exercise of stock options | | | 275 | | | 116 |
| Net cash provided by financing activities | | | 412,958 | | | 20,116 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | | | 157 | | | 78 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | | | 262,889 | | | (10,352) |
| Cash, cash equivalents and restricted cash at beginning of period | | | 56,943 | | | 67,295 |
| Cash, cash equivalents and restricted cash at end of period | | $319,832 | | $56,943 | ||
| | | | | | | |
| Supplemental disclosure of non-cash investing and financing activities: | | | | | | |
| Fair value of BMS Note recognized as Series C Convertible preferred stock upon conversion | | $21,146 | | $— | ||
| Conversion of convertible preferred stock to common stock upon closing of initial public offering | | $449,612 | | $— | ||
| Right-of-use assets obtained under operating lease arrangements | | $1,100 | | $— | ||
| Deferred offering costs in accrued expenses | | $— | | $1,388 | ||
| | | | | | | |
| Reconciliation of cash, cash equivalents and restricted cash: | | | | | | |
| Cash and cash equivalents | | $319,742 | | $56,857 | ||
| Restricted cash | | | 90 | | | 86 |
| Total cash, cash equivalents and restricted cash | | $319,832 | | $56,943 | ||
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