Zentalis Q3 2020 Earnings Report
Key Takeaways
Zentalis Pharmaceuticals reported a net loss of $34.7 million for the third quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $367.4 million as of September 30, 2020. The company made progress in its oncology pipeline, including ZN-c5 and ZN-c3, and entered a collaboration with Eli Lilly.
Announced topline data from the Phase 1 monotherapy dose escalation trial of ZN-c5, its investigational oral SERD, in patients with ER+/HER2- advanced breast cancer.
Entered into a clinical collaboration with Eli Lilly to evaluate ZN-c5 in combination with abemaciclib, a CDK4 and 6 inhibitor.
Raised an additional ~$166.0 million in gross proceeds from recent follow-on offering.
Preparing to initiate the Phase 2 trial in patients with ER+/HER2- advanced breast cancer in the first half of 2021.
Zentalis
Zentalis
Forward Guidance
Zentalis expects that its existing cash, cash equivalents and marketable securities will enable the Company to fund its operating expenses and capital expenditure requirements into 2023.