Zentalis Pharmaceuticals Files Q2 2024 10-Q

Ticker: ZNTL · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 1725160

Sentiment: neutral

Topics: 10-Q, financials, pharmaceuticals

TL;DR

Zentalis Pharma dropped its Q2 10-Q. Check financials.

AI Summary

Zentalis Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported its financial results and provided updates on its business operations. Specific financial figures and operational details for the second quarter of 2024 are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial health and operational progress of Zentalis Pharmaceuticals, crucial for understanding its current standing and future prospects in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Zentalis faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

Key Players & Entities

FAQ

What is the total revenue for Zentalis Pharmaceuticals for the quarter ended June 30, 2024?

The provided text does not contain specific revenue figures for the quarter ended June 30, 2024. A detailed review of the full 10-Q document would be required to ascertain this information.

What were the net losses for Zentalis Pharmaceuticals in the first six months of 2024?

The provided text does not contain specific net loss figures for the first six months of 2024. A detailed review of the full 10-Q document would be required to ascertain this information.

What is Zentalis Pharmaceuticals' cash and cash equivalents balance as of June 30, 2024?

The provided text does not contain the cash and cash equivalents balance as of June 30, 2024. A detailed review of the full 10-Q document would be required to ascertain this information.

What are the primary business segments of Zentalis Pharmaceuticals?

The provided text identifies Zentalis Pharmaceuticals' Standard Industrial Classification as 'PHARMACEUTICAL PREPARATIONS [2834]', indicating its primary business is in the development and manufacturing of pharmaceutical products.

When was Zentalis Pharmaceuticals, Inc. formerly known as Zeno Pharma, LLC?

Zentalis Pharmaceuticals was formerly known as Zeno Pharma, LLC, with a date of name change on 20171212.

Filing Stats: 4,577 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-09 07:03:55

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations 5 Condensed Consolidated Statements of Comprehensive Loss 6 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statement of Stockholders' Equity 9 Notes to Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION 40

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 40

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 96

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 96

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 96

Other Information

Item 5. Other Information 96

Exhibits

Item 6. Exhibits 97

Signatures

Signatures 99 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or Quarterly Report, contains forward-looking statements within the meaning of the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained in this Quarterly Report are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "design," "aim," "support," "advance," "continue," "goal," "milestone," "foreseeable," "may prove," or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements about: our ability to resolve the previously disclosed partial clinical hold placed by the U.S. Food and Drug Administration, or FDA, on certain of our azenosertib (ZN-c3) clinical studies; our plans to update certain guidance following resolution of the partial clinical hold; our competitive position and our industry; our expectations, projections and estimates regarding our capital requirements, need for additional capital, financing our future cash needs, costs, expenses, revenues, capital resources, cash flows, financial performance, profitability, tax obligations, liquidity, growth, contractual obligations, the period of time our cash resources will fund our current operating plan, our internal control over financial reporting and disclosure controls and procedures; the ability of our clinical trials to demonstrate safety and efficacy of our product candidat

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements. Zentalis Pharmaceuticals, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share amounts and par value) June 30, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 36,976 $ 28,038 Marketable securities, available-for-sale 389,409 454,881 Prepaid expenses and other current assets 13,231 13,799 Total current assets 439,616 496,718 Property and equipment, net 5,337 5,819 Operating lease right-of-use assets 33,474 35,916 Prepaid expenses and other assets 6,836 6,818 Goodwill 3,736 3,736 Restricted cash 2,681 2,681 Total assets $ 491,680 $ 551,688 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 20,440 $ 14,926 Accrued expenses 46,252 54,441 Total current liabilities 66,692 69,367 Long-term lease liability 41,318 43,150 Other long-term liabilities 1,089 1,780 Total liabilities 109,099 114,297 Commitments and contingencies EQUITY Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value; 250,000,000 shares authorized; 71,106,719 and 70,765,554 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 71 70 Additional paid-in capital 1,349,135 1,323,576 Accumulated other comprehensive income 140 2,194 Accumulated deficit ( 966,765 ) ( 888,556 ) Total stockholders' equity 382,581 437,284 Noncontrolling interests — 107 Total equity 382,581 437,391 Total liabilities and stockholders' equity $ 491,680 $ 551,688 See notes to condensed consolidated financial statements. 4 Zentalis Pharmaceuticals, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 License Revenue $ — $ — $ 40,560 $ — Operating Expenses Research and development 48,386 42,684 $ 97

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