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Zentalis Pharmaceuticals Reports First Quarter 2020 Financial Results and Operational Update
Completed initial public offering of common stock, raising approximately $190.0 million in gross proceeds Fourth oncology Investigational New Drug (IND)
About this update from Zentalis Pharmaceuticals, Inc.
[{"type":"text","content":"Completed initial public offering of common stock, raising approximately $190.0 million in gross proceeds\n Fourth oncology Investigational New Drug (IND) application cleared by FDA for ZN-d5, a BCL-2 inhibitor NEW YORK and SAN DIEGO, May 15, 2020 (GLOBE NEWSWIRE) -- Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers, today announced financial results for the first quarter ended March 31, 2020, and highlighted recent corporate accomplishments. “2020 has already proven to be a pivotal year for Zentalis. We achieved numerous important corporate and clinical milestones, including the completion of our initial public offering, positioning Zentalis for continued success,” commented Dr. Anthony Sun, Chairman and Chief Executive Officer of Zentalis. “Becoming a public company during these unprecedented times would not have been possible without the hard work and dedication from our team as well as the continuous support from our new and existing shareholders. From inception, Zentalis has been passionate about improving the lives of cancer patients through the discovery of potential breakthrough medicines, clearing four INDs in just five years. In addition, we look forward to reporting topline data on our oral SERD, ZN-c5, in the second half of 2020 as well as continuing to advance our broad oncology pipeline.” Recent Accomplishments In April 2020, the Company completed an initial public offering of 10,557,000 shares of common stock at a public offering price of $18.00 per share for gross proceeds of approximately $190.0 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Zentalis. In April 2020, the U.S. Food and Drug Administration (FDA) cleared the Company’s IND application for ZN-d5, an investigational oral selective inhibitor of B-cell lymphoma 2 (BCL-2) initially in development for the treatment of hematologic malignancies. First Quarter 2020 Financial Results Cash Position: As of March 31, 2020, Zentalis had cash and cash equivalents of $63.7 million. We expect that the Company’s existing cash and cash equivalents, together with the net proceeds of $172.4 million from the IPO, will enable the Company to fund its ope...