Buzz-Zentalis Pharma falls after starting stock offering - ZNTL News | RalliesBuzz-Zentalis Pharma falls after starting stock offering
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ZNTL• Shares fall after offering announcement
- Shares of oncology drug developer Zentalis Pharmaceuticals ZNTL.O were down about 10% to $3.75 in extended trading as it seeks an equity raise.
- ZNTL has commenced an offering comprising stock and pre-funded warrants to purchase stock; the deal size was not disclosed.
- The company intends to use net offering proceeds to fund clinical trials, preclinical studies, regulatory filings, among other purposes.
- TD Cowen, Guggenheim and Oppenheimer are joint bookrunners.
- ZNTL shares finished down 3.3% at $4.15 on Thursday, but have more than tripled year to date.
- The San Diego, California, firm has about 71.7 million shares outstanding for a market cap of about $300 million.
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