ZURA Stock — Zura Bio Limited: Cash, EV, Pipeline

What they do

We are a clinical-stage biotechnology company developing novel and differentiated medicines for patients with autoimmune and inflammatory diseases, including serious and debilitating conditions with significant unmet medical need. These diseases are often chronic, biologically complex and difficult to treat, and many patients do not achieve durable disease control with currently available therapies.

Source: 10-K FY2025 via SEC EDGAR

Share price

$4.09

Market cap

$394.0M

Cash

$187.7M

Enterprise value

$206.3M

Balance sheet

Cash	$187.7M
Debt	$0.0M
Net cash	$187.7M
Enterprise value	$206.3M
Basic shares	96.3M shares
Fully diluted shares	146.9M shares
Fully diluted market cap	$600.9M
Cash per share	$1.95
Quarterly burn	$18.9M
Cash runway	10.8 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

96.3M

Pre-funded warrants

29.3M

Options

21.0M

RSUs

0.3M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

146.9M

Cap table as of 2026-09-30.

Price history

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Next catalyst

Tibulizumab Dose A · Dec 13, 2026 - Jan 24, 2027 in 5 wks · Phase 2 · Hidradenitis Suppurativa (HS)

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027 in 5 wks	Tibulizumab Dose A	Phase 2	Hidradenitis Suppurativa (HS)	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
Jun 12 - Jul 24 in 7 mo	Tibulizumab	Phase 2	Systemic Sclerosis (SSc); Scleroderma	1H 2027 Est. Apr 1, 2027 · half midpoint

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

tibulizumab

Phase 2 · Active Modality: bispecific antibody

Aliases ZB-106

Target BAFF and IL-17A

Partnerships Eli Lilly (exclusive license to develop, manufacture and commercialize tibulizumab, Apr 2023; up to $155M development milestones + $440M sales milestones)

Indications

hidradenitis suppurativa (HS) (Phase 2)
systemic sclerosis (SSc), early diffuse cutaneous (Phase 2)
polymyalgia rheumatica (PMR) (Phase 2)

Catalysts

— Q4 2026
— end of 2026
— H1 2027

Status note Lead candidate; bispecific dual-antagonist antibody (tabalumab fused with scFv from ixekizumab). TibuSHIELD (HS) and TibuSURE (SSc) are global randomized double-blind placebo-controlled Phase 2 trials.

crebankitug

Phase 1 · Active Modality: antibody

Target IL-7Rα

Status note Evaluated in Phase 1 and Phase 1b studies; company assessing potential therapeutic indications and future development strategies.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Tibulizumab Dose A
Lead indication	Hidradenitis Suppurativa (HS)
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06993610	Phase 2	Active, not recruiting	Sponsor	Zura Bio Inc	—	Hidradenitis Suppurativa (HS)	Q4 2026 Est. Nov 15, 2026 · quarter midpoint
NCT06843239	Phase 2	Active, not recruiting	Sponsor	Zura Bio Inc	—	Systemic Sclerosis (SSc); Scleroderma	1H 2027 Est. Apr 1, 2027 · half midpoint

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Zura Bio Inc on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Great Point Partners	4,215,930	no change	5.86%	2026-08-14
Braidwell LP	3,980,295	-8,694	0.87%	2026-08-14
ADAR1 Capital Management	1,759,295	+1,128,892	0.49%	2026-08-14
Ikarian Capital	1,218,492	+25,000	1.18%	2026-08-14
EcoR1 Capital	1,179,715	no change	0.35%	2026-08-14
Boxer Capital	900,000	no change	0.40%	2026-08-14
Cormorant Asset Management	0	-1,450,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ZURA — Zura Bio Limited ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

ZURA — Zura Bio Limited