Zentalis closes $92.6M public offering of common stock

Zentalis Pharmaceuticals (Nasdaq: ZNTL) closed an underwritten public offering of 26,450,000 shares of common stock at $3.50 per share, generating approximately $92.6 million in gross proceeds before deducting underwriting discounts, commissions, and offering expenses, according to a press release.

The share count includes 3,450,000 shares sold through the full exercise of the underwriters' option to purchase additional shares. All shares were sold by the company.

Zentalis said it intends to use the net proceeds, combined with existing cash, cash equivalents, and marketable securities, to fund clinical trials, preclinical studies, regulatory filings, manufacturing, and companion diagnostic development, as well as pre-commercial activities, capital expenditures, and general corporate purposes.

TD Cowen, Guggenheim Securities, and Oppenheimer & Co. served as joint bookrunners. H.C. Wainwright & Co. acted as a passive bookrunner, and Rodman & Renshaw LLC served as a manager for the offering.

The securities were offered under a shelf registration statement filed with the U.S. Securities and Exchange Commission on March 26, 2025, which became effective on April 4, 2025.

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