Zentalis Pharmaceuticals Announces Closing of Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers, today announced the closing of an underwritten public offering of 3,565,000 shares of its common stock at a public offering price of $48.50 per share, which includes the exercise in full by the underwriters of their option to purchase up to 465,000 additional shares. The total gross proceeds for the offering are approximately $172.9 million, before deducting underwriting discounts and commissions and offering expenses payable by Zentalis.

Morgan Stanley, Jefferies, SVB Leerink and Guggenheim Securities acted as joint book-running managers for the offering. Wedbush PacGrow acted as co-manager for the offering.

The securities described above were offered pursuant to an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission (SEC) on May 4, 2021. The offering was made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers. The Company is developing a broad pipeline of potentially best-in-class oncology candidates, all internally discovered, which include ZN-c5, an oral selective estrogen receptor degrader (SERD) for ER+/HER2- breast cancer, ZN-c3, a WEE1 inhibitor for advanced solid tumors, ZN-d5, a BCL-2 inhibitor for hematologic malignancies, and ZN-e4, an EGFR inhibitor for non-small cell lung carcinoma (NSCLC). Zentalis has licensed ZN-c5, ZN-c3 and ZN-d5 to its majority-owned joint venture, Zentera Therapeutics, to develop and commercialize these candidates in China. Zentalis has operations in both New York and San Diego.