ZNTL - Zentalis Pharmaceuticals prices $200M in stock offering

Zentalis Pharmaceuticals (NASDAQ:ZNTL) priced its underwritten offering of 10.3M shares at an offering price of $19.38/share for total gross proceeds of ~$200.2M. Offer is expected to close on May 18. Net proceeds to be used for funding ongoing and planned clinical trials, including the clinical development of ZN-c3 and ZN-d5, and for working capital and other general corporate purposes. The company believes that along with its existing cash and equivalents it will be sufficient to fund its operating expenses and capital expenditure requirements into Q1 of 2025.

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Zentalis Pharmaceuticals prices $200M in stock offering