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Jun 30, 2024
Zentalis Q2 2024 Earnings Report
Reported financial results for the second quarter of 2024 and highlighted recent corporate accomplishments.
Key Takeaways
Zentalis Pharmaceuticals reported its Q2 2024 financial results, with a cash, cash equivalents, and marketable securities position of $426.4 million as of June 30, 2024. The company believes its existing cash will fund operations into mid-2026. R&D expenses were $48.4 million, and G&A expenses were $16.8 million.
Cash, cash equivalents and marketable securities totaled $426.4 million as of June 30, 2024.
The company expects cash runway into mid-2026.
Topline results from Cohort 1b of the Phase 2 DENALI study of azenosertib monotherapy in platinum resistant high-grade serous ovarian cancer are expected in the second half of 2024.
A partial clinical hold on certain azenosertib clinical studies was placed by the FDA following two deaths in the DENALI study.
Zentalis
Zentalis
Forward Guidance
Zentalis anticipates several milestones in the second half of 2024, including topline results from the DENALI study, presentation of final results from the azenosertib monotherapy trial, topline data from the MAMMOTH trial, and initial data from the azenosertib + BEACON regimen trial. The company also plans to provide additional updates to the azenosertib clinical development and data timelines following resolution of the partial clinical hold.
Positive Outlook
- Topline results from Cohort 1b of the Phase 2 DENALI study (ZN-c3-005) of azenosertib monotherapy in platinum resistant high-grade serous ovarian cancer expected in 2H 2024
- Presentation of final results of Phase 1b (ZN-c3-001) azenosertib monotherapy trial in solid tumors expected in 2H 2024
- Topline data from Phase 1/2 MAMMOTH (ZN-c3-006) azenosertib + PARP inhibitor (niraparib) and azenosertib monotherapy trial in platinum resistant ovarian cancer in partnership with GSK expected in 2H 2024
- Presentation of initial data from Phase 1 (ZN-c3-016) azenosertib + BEACON regimen (encorafenib + cetuximab) trial in BRAF mutant metastatic colorectal cancer in partnership with Pfizer expected in 2H 2024
- Existing cash, cash equivalents and marketable securities are expected to fund operations into mid-2026.
Challenges Ahead
- Ongoing partial clinical hold on azenosertib clinical studies
- Uncertainty regarding the resolution of the partial clinical hold
- Potential delays in azenosertib clinical development timelines
- Dependence on the success of lead product candidate, azenosertib
- Risk of unforeseen events during clinical trials