Zentalis Pharma Prices Underwritten Stock Offering

(RTTNews) - Zentalis Pharmaceuticals, Inc. (ZNTL) announced the pricing of an underwritten offering of 11,032,656 shares of its common stock at an offering price of $22.66 per share, for total gross proceeds of approximately $250.0 million. The offering is expected to close on June 20, 2023.

The company plans to use the net proceeds to fund ongoing and planned clinical trials, and for working capital and other general corporate purposes. The company believes the net proceeds from the offering and existing cash, cash equivalents and marketable securities will be sufficient to fund operating expenses and capital expenditure requirements into 2026.

Zentalis Pharmaceuticals is a clinical-stage biopharmaceutical company discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers. It has operations in both New York and San Diego.

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