Zentalis Pharmaceuticals Inc · Q2 2020 earnings

Briefing

Zentalis reported financial results for the second quarter ended June 30, 2020, and highlighted recent corporate accomplishments.

Zentalis Pharmaceuticals reported a net loss of $27.3 million for the second quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $233.2 million as of June 30, 2020, which, along with proceeds from a follow-on offering, is expected to fund operations into 2023. The company also completed its IPO, raised additional capital, and entered into strategic collaborations.

• Closed initial public offering (IPO) of common stock, raising gross proceeds of ~$190.0 million.
• Raised an additional ~$144.4 million in gross proceeds from recent follow-on offering.
• Completed a $20.0 million Series A financing to establish Zentera Therapeutics, a majority- owned Chinese joint venture.
• Entered into strategic collaborations with Eli Lilly and Tavros Therapeutics to further advance oncology pipeline

Headline financials

Revenue & EPS history

Zentalis expects that the Company’s existing cash, cash equivalents and marketable securities, together with the net proceeds of approximately $135.0 million from the follow-on offering, will enable the Company to fund its operating expenses and capital expenditure requirements into 2023.