Zenas BioPharma, Inc. · Brief

Next report

10 days

Nov 11 · before openest.Q3 FY26

Earnings

Expected move

No implied move.

Implied vs realized

8 reportsHistory

1 of 6≥ implied

avg implied: ±20.5%
avg realized: ±15.3%

May 15 '25—▲+12.21%—

Aug 12 '25±32.6%▲+6.68%×0.20

Q3 FY25±25.3%▲+24.22%×0.96

Nov 12 '25±10.4%▲+1.70%×0.16

Jan 5 '26±33.7%▼−51.86%×1.54

Q1 FY26±14.6%▼−3.37%×0.23

May 13 '26±6.7%▲+4.02%×0.60

Q2 FY26—▼−6.68%—

quarterimplied−55%0+55%realized×

Q2 FY26—▼−6.68%—

May '26±6.7%▲+4.02%×0.60

Q1 FY26±14.6%▼−3.37%×0.23

Jan '26±33.7%▼−51.86%×1.54

Nov '25±10.4%▲+1.70%×0.16

Q3 FY25±25.3%▲+24.22%×0.96

2 older reports

Aug '25±32.6%▲+6.68%×0.20

May '25—▲+12.21%—

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Bull & bear

Nov 11 report · est.

Bull2 of 4

4tracked funds holding ZBION-PORT · Aug 31 '26

145managers reporting a position in the latest quarterly filings13F · Jun 30 '26

Bear2 of 4

5 of 6recent reports where the move came in under the options implied rangeEarnings history

0.32%of State Street SPDR S&P Biotech ETF's assets, the largest tracked-fund weightN-PORT · Jun 30 '26

AI captions · Sep 28 '26once per report · top 2 per case

Linked exposure

ZBIO report session

Suppliers 1

XNCRXencor×0.24

× = co-movement · max 501dSource: SEC filings · market data

Latest changes

30 daysAll changes

Oct 28impliedImplied move: ±17.4% into Nov 11 earnings (Oct 28 close).Source

Your note

privateThesis 0 · Decisions 0 · Observations 0

No thesis.