Zentalis Pharmaceuticals Announces Pricing of Offering of Common Stock
June 28 2021 - 9:08PM
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
public offering of 3,100,000 shares of its common stock at a public
offering price of $48.50 per share, for total gross proceeds of
approximately $150.4 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 July 1, 2021, subject to customary
closing conditions. In addition, Zentalis has granted the
underwriters a 30-day option to purchase up to an additional
465,000 shares of its common stock at the public offering price,
less underwriting discounts and commissions.
Morgan Stanley, Jefferies, SVB Leerink and Guggenheim Securities
are acting as joint book-running managers for the offering. Wedbush
PacGrow is acting as co-manager 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 preliminary prospectus supplement related to the offering
(including the accompanying prospectus) has been previously filed
with the SEC and is available on the SEC’s website located at
www.sec.gov. Copies of the final prospectus supplement related to
the offering and the accompanying prospectus may be obtained, when
available, by visiting the SEC’s website or 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 Leerink LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, by telephone at (800) 808-7525, ext. 6105, or by emailing
syndicate@svbleerink.com, Guggenheim Securities, LLC Attention:
Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017
or by telephone at (212) 518-5548, 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-c5, an oral selective estrogen
receptor degrader (SERD) for ER+/HER2- breast cancer, ZN-c3, a WEE1
inhibitor for advanced solid tumors, ZN-d5, a BCL-2 inhibitor for
hematologic malignancies, and ZN-e4, an EGFR inhibitor for
non-small cell lung carcinoma (NSCLC). Zentalis has licensed ZN-c5,
ZN-c3 and ZN-d5 to its majority-owned joint venture, Zentera
Therapeutics, to develop and commercialize these candidates in
China. Zentalis has operations in both New York and San Diego.
For more information, please visit www.zentalis.com. Follow
Zentalis on Twitter at @ZentalisP and on LinkedIn
at www.linkedin.com/company/zentalis-pharmaceuticals.
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. 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: the COVID-19 pandemic has adversely impacted and may
continue to adversely impact our business, including our
preclinical studies and clinical trials; 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; failure
to identify additional product candidates and develop or
commercialize marketable products; the early stage of our
development efforts; 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
significant costs as a result of operating as a public company.
These and other important factors discussed under the caption “Risk
Factors” in our Quarterly Report on Form 10-Q for the quarterly
period ended March 31, 2021 filed with the U.S. Securities and
Exchange Commission (SEC) and our other filings with the SEC could
cause actual results to differ materially from those indicated by
the forward-looking statements made in this press release. 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:Gitanjali Jain
OgawaSolebury Troutgogawa@soleburytrout.com
Media Contact:Julia DeutschSolebury
Troutjdeutsch@soleburytrout.com
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