Zentalis Pharmaceuticals, Inc. (ZNTL), a clinical-stage biopharmaceutical company, announced a strategic restructuring to focus on the late-stage development of azenosertib, a WEE1 inhibitor for cancer.
As part of the restructuring, Zentalis will reduce its workforce by 40%. The restructuring extends the company's cash runway into late 2027, supporting the DENALI Part 2 study and a potential registration-enabling data readout by the end of 2026.
DENALI is a phase II study of Azenosertib monotherapy in platinum-resistant high-grade serous ovarian cancer. The FDA had placed a partial clinical hold on this study, among others, in June 2024, following two deaths due to presumed sepsis in the DENALI study. The partial hold was lifted last September, allowing the company to resume enrollment in all ongoing Azenosertib clinical studies with no changes in the clinical development plan.
Zentalis will host a corporate event on January 29, 2025, at 8:00 a.m. ET, to present updated clinical data and discuss its development and regulatory path. The webcast will be available on the company's website.
ZNTL closed Tuesday's (Jan.28 2025) trading at $2.40.
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