- Zentalis Pharmaceuticals Inc (NASDAQ:ZNTL) priced an underwritten public offering of 3.1 million shares at $48.50 per share, for gross proceeds of approximately $150.4 million.
- The stock’s last close price was $49 on Monday.
- Underwriters have an option to purchase up to an additional 465k shares.
- The offering will close on July 1.
- Proceeds will be used to advance the clinical development of lead product candidates, ZN-c3 and ZN-c5, and other product candidates, including ZN-d5 and ZN-e4.
- Recently, the company announced interim data for ZN-c3 Phase 1, demonstrating increased tumor reduction and durability.
- Newly confirmed responses and an additional unconfirmed Partial Response in uterine serous carcinoma were reported. The objective response rate (ORR) in the USC population increased from 40% to 43%.
- Interim data from the ZN-c5 trial in ER+/HER2- advanced or metastatic breast cancer showed a clinical benefit rate (CBR) of 33%, and the ORR was 5%.
- ZN-c5 generated 2 PRs at the 150 mg and 300 mg doses.
- See the offering prospectus here.
- Price Action: ZNTL shares are down 1.9% at $48.06 during the premarket session on the last check Tuesday.
Credit Suisse Maintains Neutral on Sirius XM Holdings, Lowers Price Target to $5
Credit Suisse analyst Douglas Mitchelson maintains Sirius XM Holdings (NASDAQ:SIRI) with a Neutral and lowers the price target from $5.5 to $5.
