Zura Bio Ltd

Listed Company

ZURACIK 0001855644NasdaqEmerging GrowthBiological Products, (No Diagnostic Substances)E9FY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-68.70M

Total Assets

$113.95M

Equity

$101.54M

Shares Out

94.88M

Op. Cash Flow

$-64.81M

Business

Zura Bio Ltd is a clinical-stage immunology company developing novel bispecific and monoclonal dual-pathway antibodies to treat autoimmune and inflammatory diseases. Its primary product candidates include tibulizumab (an IL‑17A/BAFF bispecific), crebankitug (an IL‑7Rα monoclonal antibody), and torudokimab (an IL‑33 neutralizing antibody), each in clinical development. The company organizes operations around clinical development programs, licensing and intellectual property management, and outsourced manufacturing and third‑party CRO partnerships. It conducts global clinical trials and regulatory interactions across the United States, EU, Japan and other markets, leveraging third‑party manufacturers and strategic collaborations for development and distribution.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Research and development	42	24	44	24
General and administrative	33	31	19	3
Total operating expenses	75	55	63	27
Loss from operations	−75	−55	−63	−27
Interest income	−6	−8	−2	−8,000
Change in fair value of private placement warrants	—	5	−724,000	−4
Other income, net	−260,000	−28,000	−17,000	—
Total other income, net	−7	−3	−2	6
Loss before income taxes	−69	−52	−61	−27
Income tax benefit	—	—	0	—
Net loss	−69	−52	−60	−26
Adjustment of redeemable noncontrolling interest	831,000	7	—	—
Accretion of redeemable noncontrolling interest to redemption value	5	—	−7	−7
Deemed dividend on extinguishment of noncontrolling interest and redeemable noncontrolling interest	−36	—	—	—
Net loss attributable to Class A Ordinary Shareholders of Zura	−99	−45	−69	−32
Net loss per share attributable to Class A Ordinary Shareholders of Zura, basic (in dollars per share)	−1.06	−0.6	−2.09	−141.97
Net loss per share attributable to Class A Ordinary Shareholders of Zura, diluted (in dollars per share)	−1.06	−0.6	−2.09	−141.97
Weighted-average Class A Ordinary Shares used in computing net loss per share attributable to Class A Ordinary Shareholders of Zura, basic (in shares)	94	75	33	228,148
Weighted-average Class A Ordinary Shares used in computing net loss per share attributable to Class A Ordinary Shareholders of Zura, diluted (in shares)	94	75	33	228,148

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	109	176	100	13,785	729,223
Prepaid expenses and other current assets	3	2	1	—	—
Total current assets	112	179	101	2	1
Property and equipment, net	126,000	91,000	—	—	—
Other assets	2	698,000	—	—	—
Total assets	114	180	101	5	141
Accounts payable and accrued expenses	12	20	20	4	—
Total current liabilities	12	20	20	15	272,292
Total liabilities	12	20	21	15	10
Commitments and contingencies (Note 9)	—	—	—	—	—
Redeemable noncontrolling interest	—	12	19	10	—
Class A Ordinary Shares, $0.0001 par value; 300,000,000 shares authorized as of December 31, 2025 and 2024; 73,680,710 and 65,297,530 shares issued and outstanding as of December 31, 2025 and 2024, respectively	7,000	7,000	4,000	—	—
Additional paid-in capital	326	303	163	—	—
Accumulated deficit	−225	−156	−104	−32	−9
Total Zura Bio Limited shareholders' equity	102	147	59	−32	−9
Noncontrolling interest	—	2	2	0	—
Total shareholders' equity	102	148	61	−32	—
Total liabilities, redeemable noncontrolling interest and shareholders' equity	114	180	101	5	141

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Net loss before redeemable noncontrolling interest	−69	−52	−61	−27
Share-based compensation expense	12	17	7	334,000
Depreciation and amortization	49,000	9,000	—	—
Foreign exchange transaction gain	84,000	−27,000	−17,000	23,000
Gain on extinguishment of BAFFX17 liability	−5	—	—	—
Other non-cash items, net	4,000	—	—	—
Prepaid expenses and other current assets	−657,000	−1	−828,000	−209,000
Other assets	−814,000	−698,000	—	—
Accounts payable and accrued expenses	−2	4	6	4
Net cash used in operating activities	−65	−28	−15	−1
Purchase of fixed assets	−113,000	−75,000	—	—
Purchase of research and development license	—	−5	−8	−12
Net cash used in investing activities	−113,000	−5	−8	−12
ATM transaction costs	—	−626,000	4	—
Issuance of Class A Ordinary Shares upon exercise of Pre-Funded Warrants	3,000	—	—	—
Proceeds from exercise of stock options	107,000	—	—	—
Restricted stock units withheld to pay employee withholding taxes	−41,000	−318,000	—	—
Consideration paid for Athanor Agreement	−7	—	—	—
Net cash provided by (used in) financing activities	−2	110	121	15
Net increase in cash and cash equivalents	−67	77	98	2
Issuance of Class A Ordinary Shares in exchange for private placement warrants	—	6	—	3
Issuance of shares in conjunction with Athanor agreement	46	—	—	—
Adjustments to redeemable noncontrolling interest	—	7	—	—
Purchase of property and equipment included in accounts payable and accrued expenses	—	25,000	—	—
Extinguishment of noncontrolling interest and redeemable noncontrolling interest	18	—	—	—

Filings

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