Zentalis Pharmaceuticals Announces Pricing of Underwritten Offering of Common Stock
May 16 2022 - 07:28AM
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 the pricing of an underwritten
offering of 10,330,000 shares of its common stock at an
offering price of $19.38 per share, for total gross proceeds of
approximately $200.2 million, before deducting underwriting
discounts and commissions and offering expenses payable by
Zentalis. All of the common stock is being offered by Zentalis. The
offering is expected to close on May 18, 2022, subject to customary
closing conditions. Zentalis intends to use the net proceeds of the
offering to help fund ongoing and planned clinical trials,
including the clinical development of ZN-c3 and ZN-d5, and for
working capital and other general corporate purposes. Zentalis
believes that the net proceeds from the offering and its existing
cash and cash equivalents will be sufficient to fund its operating
expenses and capital expenditure requirements into the first
quarter of 2025.
Morgan Stanley, Jefferies, SVB Securities and Guggenheim
Securities are acting as joint book-running managers for the
offering, and Wedbush PacGrow is acting as co-manager for the
offering. H.C. Wainwright is acting as financial advisor to
Zentalis for the offering.
The securities described above are being offered pursuant to an
effective shelf registration statement that was filed with the U.S.
Securities and Exchange Commission (SEC) on May 4, 2021. This
offering is being made only by means of a prospectus supplement and
the accompanying prospectus which forms a part of the effective
shelf registration statement.
A final prospectus supplement related to the offering will be
filed with the SEC and will be available on the SEC’s website at
www.sec.gov. Copies of the final prospectus may be obtained, when
available, by contacting: Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, Second Floor, New York,
New York 10014, Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New
York 10022, via telephone: 877-821-7388 or via email:
Prospectus_Department@Jefferies.com, SVB Securities LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by telephone at (800) 808-7525, ext. 6105, or by emailing
syndicate@svbsecurities.com, or Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison Avenue, 8th
Floor, New York, New York 10017, or by telephone at (212) 518-9544
or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
About Zentalis Pharmaceuticals
Zentalis Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company focused on discovering and developing
small molecule therapeutics targeting fundamental biological
pathways of cancers. The Company is developing a broad pipeline of
potentially best-in-class oncology candidates, all internally
discovered, which include ZN-c3, a Wee1 inhibitor for advanced
solid tumors, ZN-d5, a BCL-2 inhibitor for hematologic malignancies
and related disorders, ZN-c5, an oral selective estrogen receptor
degrader (SERD) for ER+/HER2- breast cancer, and ZN-e4, an EGFR
inhibitor for non-small cell lung carcinoma (NSCLC). The Company
has licensed ZN-c3, ZN-d5 and ZN-c5 to its joint venture, Zentera
Therapeutics, to develop and commercialize these candidates in
China. Zentalis has operations in both New York and San Diego.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements
regarding the completion and anticipated proceeds of the proposed
offering, and the sufficiency of our cash and cash equivalents.
These statements are neither promises nor guarantees, but involve
known and unknown risks, uncertainties and other important factors
that may cause our actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to, the following: our
limited operating history, which may make it difficult to evaluate
our current business and predict our future success and viability;
we have and expect to continue to incur significant losses; our
need for additional funding, which may not be available; our
substantial dependence on the success of our lead product
candidates; the outcome of preclinical testing and early trials may
not be predictive of the success of later clinical trials; failure
to identify additional product candidates and develop or
commercialize marketable products; potential unforeseen events
during clinical trials could cause delays or other adverse
consequences; risks relating to the regulatory approval process or
ongoing regulatory obligations; failure to obtain U.S. or
international marketing approval; our product candidates may cause
serious adverse side effects; inability to maintain our
collaborations, or the failure of these collaborations; our
reliance on third parties; effects of significant competition; the
possibility of system failures or security breaches; risks relating
to intellectual property; our ability to attract, retain and
motivate qualified personnel, and risks relating to management
transitions; significant costs as a result of operating as a public
company; the COVID-19 pandemic has adversely impacted and may
continue to adversely impact our business, including our
preclinical studies and clinical trials; and the other important
factors discussed under the caption “Risk Factors” in our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2022 filed with
the U.S. Securities and Exchange Commission (SEC) and our other
filings with the SEC. Any such forward-looking statements represent
management’s estimates as of the date of this press release. While
we may elect to update such forward-looking statements at some
point in the future, we disclaim any obligation to do so, even if
subsequent events cause our views to change.
Investor Contact:Alexandra RoySolebury
Troutaroy@soleburytrout.com
Media Contact:Hannah Gendel Solebury
Trouthgendel@soleburytrout.com
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