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Mar 31, 2021
Zentalis Q1 2021 Earnings Report
Zentalis reported first quarter 2021 financial results and provided an operational update.
Key Takeaways
Zentalis Pharmaceuticals reported a net loss of $50.4 million for the first quarter ended March 31, 2021. The company highlighted the clinical development of ZN-c3, with strong data presented at AACR, and announced a clinical collaboration with GlaxoSmithKline (GSK) to evaluate ZN-c3 in combination with niraparib. As of March 31, 2021, Zentalis had cash, cash equivalents and marketable securities of $298.4 million.
Reported robust initial results from the Phase 1 monotherapy dose escalation trial of ZN-c3, demonstrating single-agent activity and Exceptional Responses in heavily pre-treated patients.
Announced clinical collaboration with GlaxoSmithKline (GSK) to evaluate ZN-c3 in combination with niraparib, a PARP inhibitor.
Zentera Therapeutics, Zentalis’ majority-owned joint venture, filed four Clinical Trial Applications (CTAs, China equivalent of IND) and three have been approved in China to date: for ZN-c5, ZN-c3, and ZN-c3 in combination.
The Company plans to report interim results from numerous ongoing trials with ZN-c5 and to share guidance on future development plans for this product candidate in the second quarter of 2021.
Forward Guidance
Zentalis expects to initiate several studies in the coming months and plans to report interim results from ongoing trials with ZN-c5 in the second quarter of 2021.
Positive Outlook
- A Phase 2 trial of ZN-c3 in uterine serous carcinoma in the third quarter of 2021.
- A Phase 1/2 trial of ZN-c3 in combination with chemotherapy in osteosarcoma in the third quarter of 2021.
- A Phase 1/2 trial of ZN-c3 in combination with GSK's niraparib in ovarian cancer in the second half of 2021.
Challenges Ahead
- The impact of the COVID-19 pandemic to our business and operating results presents additional uncertainty and cannot be predicted with confidence.
Historical Earnings Impact
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