Zura Bio Limited

Zura Bio Limited (ZURA), a clinical-stage biotech, reported a net loss of $68.7 million for FY 2025, up 31% YoY from $52.4 million in 2024, driven by higher operating expenses of $75.2 million, a 36% increase primarily from research and development costs rising 72% to $42.1 million due to Phase 2 trials for tibulizumab (ZB-106) in hidradenitis suppurativa (TibuSHIELD, topline Q4 2026) and diffuse cutaneous systemic sclerosis (TibuSURE, topline H1 2027). General and administrative expenses grew 8% to $33.2 million. Loss from operations was $75.2 million, offset partially by $6.6 million in other income, including $6.3 million interest income. Net loss attributable to Class A shareholders reached $99.4 million, or -$1 per share (basic and diluted, 94.2 million weighted shares). Balance sheet shows $109.4 million cash, total assets $113.9M, liabilities $12.4M, and shareholders' equity $101.5M. Net cash used in operations was $64.8 million, with net decrease in cash $67.1 million, ending at $99.8 million per cash flow (BS $109.4M). Cash runway extends to end of 2028, supporting clinical advancement amid no revenue and ongoing losses.

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