Zentalis prices $80.5 million stock offering at $3.50 a share

Zentalis Pharmaceuticals priced a public offering of 23,000,000 shares of common stock at $3.50 per share, according to a prospectus supplement dated August 13, 2026. The offering totals $80,500,000, with proceeds before expenses to the company of $75,670,000 after a $0.21 per share underwriting discount.¹ Underwriters have a 30-day option to buy up to an additional 3,450,000 shares at the public offering price less discounts.¹ Shares are expected to be delivered on or about August 17, 2026.¹

The company estimates net proceeds of approximately $75.1 million, or approximately $86.4 million if the underwriters' option is exercised in full.¹ Zentalis said the proceeds from this offering combined with existing cash should fund operating expenses and capital expenditures into the first half of 2028.¹

The financing supports development of azenosertib (ZN-c3). Zentalis is a clinical-stage biopharmaceutical company developing azenosertib as an investigational WEE1 inhibitor for ovarian cancer and other tumor types.¹ The company's DENALI Part 2 trial in Cyclin E1-positive platinum-resistant ovarian cancer could support accelerated approval, while the Phase 3 ASPENOVA trial is designed as a confirmatory study for potential full approval.¹ In a July 2026 Type D meeting, the FDA raised no objection to the selected 400mg dose and acknowledged that the DENALI Part 2 population, including its 2c cohort, could support an accelerated approval pathway depending on data strength and the competitive landscape.¹ Zentalis expects a topline readout from DENALI Part 2 in the first half of 2027.¹

The company's net tangible book value was about $143.6 million, or $2.00 per share, as of June 30, 2026, rising to $2.31 per share after the offering, representing $1.19 per share of dilution to new investors.¹ TD Cowen, Guggenheim Securities, and Oppenheimer & Co. are joint bookrunners on the deal.