SAN DIEGO, Aug.  13, 2026  (GLOBE NEWSWIRE) -- Zentalis® Pharmaceuticals, Inc. (NASDAQ:ZNTL) (&#34;Zentalis&#34; or the &#34;Company&#34;), a clinical oncology innovator advancing late-stage development of an

ZNTL

Zentalis Pharmaceuticals Announces Pricing of Underwritten Public Offering

Zentalis prices $80.5 million share offering, signaling dilution and funding runway

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>SAN DIEGO, Aug.  13, 2026  (GLOBE NEWSWIRE) -- Zentalis® Pharmaceuticals, Inc. (NASDAQ:ZNTL) (&amp;#34;Zentalis&amp;#34; or the &amp;#34;Company&amp;#34;), a clinical oncology innovator advancing late-stage development of an</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Zentalis announced an underwritten public offering of 23 million shares at $3.50, raising about $80.5 million, with a 30-day option for 3.45 million more. Proceeds will fund trials, diagnostics, manufacturing, regulatory filings, and general corporate purposes, extending cash runway for its WEE1 program azenosertib. The move introduces dilution near term, requiring milestones to unlock longer-term value.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>ZNTL prices public offering of 23,000,000 shares at $3.50; gross ~$80.5M.</li><li>Underwriters&#039; option to purchase up to 3,450,000 additional shares.</li><li>Proceeds to fund clinical trials, preclinical studies, regulatory filings, manufacturing, and diagnostics.</li><li>Close date expected August 17, 2026; shelf registration filed March 26, 2025.</li><li>Dilution risk may pressure near-term equity value despite cash runway.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Zentalis Pharmaceuticals, Inc. (ZNTL)</strong>: Announced a dilutive equity offering; proceeds fund pipeline and general corporate purposes.</li><li><strong>azenosertib (N/A)</strong>: ZNTL&#039;s investigational WEE1 inhibitor; proceeds may accelerate its development and biomarker-driven trials.</li><li><strong>TD Cowen (N/A)</strong>: Joint bookrunner for the offering; impact on pricing and execution may influence near-term stock reaction.</li><li><strong>Guggenheim Securities (N/A)</strong>: Joint bookrunner for the offering; execution quality could affect closing terms and market perception.</li><li><strong>Oppenheimer &amp; Co. (N/A)</strong>: Joint bookrunner for the offering; potential influence on syndicate dynamics and timing.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. Fits as a financing transaction impacting ZNTL&#039;s liquidity, capital structure, and near-term share count, with potential long-term effects tied to pipeline funding and milestones.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Dilution from new share issuance likely weighs on ZNTL stock in the near term.</li><li>Proceeds earmarked for azenosertib trials and companion diagnostic development; potential catalysts later.</li><li>30-day option for 3.45M additional shares adds further dilution risk.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Offering size: 23,000,000 shares at $3.50; gross proceeds ~ $80.5 million.</li><li>Underwriters&#039; option: up to 3,450,000 additional shares.</li><li>Close date: August 17, 2026 (subject to closing conditions).</li><li>Shelf registration: filed March 26, 2025; effective April 4, 2025.</li><li>Use of proceeds: fund clinical trials, preclinical studies, regulatory filings, manufacturing, companion diagnostic, and general corporate purposes.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term dilution pressure from the offering; longer-term upside hinges on pipeline progress and milestone-driven value realization.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">SAN DIEGO, Aug.  13, 2026  (GLOBE NEWSWIRE) -- Zentalis<sup>&#xAE;</sup> Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ZNTL">ZNTL</a>) ("Zentalis" or the "Company"), a clinical oncology innovator advancing late-stage development of an investigational, potentially first-in-class WEE1 inhibitor, azenosertib, as a biomarker-driven treatment approach for ovarian cancer, today announced the pricing of an underwritten public offering of 23,000,000 shares of its common stock at a public offering price of $3.50 per share. The total gross proceeds to the Company from the offering are expected to be approximately $80.5 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. All of the common stock is being offered by the Company. The offering is expected to close on August 17, 2026, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 3,450,000 shares of common stock at the public offering price, less underwriting discounts and commissions.</p>  <p>The Company intends to use the net proceeds from the offering, together with the Company’s existing cash, cash equivalents and marketable securities, to fund clinical trials, preclinical studies, regulatory filings, manufacturing and the Company’s companion diagnostic in support of its programs, as well as for pre-commercial activities, capital expenditures, working capital and other general corporate purposes.</p>  <p>TD Cowen, Guggenheim Securities and Oppenheimer &amp; Co. are acting as joint bookrunners for the offering. H.C. Wainwright &amp; Co. is acting as a passive bookrunner for the offering. Rodman &amp; Renshaw LLC is acting as a manager for the offering.</p>  <p>The securities described above are being offered pursuant to an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission (SEC) on March 26, 2025, and became effective on April 4, 2025. This offering is being made only by means of a prospectus supplement and the accompanying prospectus which forms a part of the effective shelf registration statement.</p>  <p>A final prospectus supplement related to the offering (including the accompanying prospectus) will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement related to the offering and the accompanying prospectus may be obtained, when available, by visiting the SEC’s website or by contacting: TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at TDManualrequest@broadridge.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or Oppenheimer &amp; Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.</p>  <p>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, the securities in this offering 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.</p>  <p><strong>About Zentalis Pharmaceuticals</strong></p>  <p>Zentalis is a clinical oncology innovator developing a treatment approach for ovarian cancer and multiple tumor types. Leveraging therapeutics development and biomarker expertise, Zentalis is advancing monotherapy and combination studies of its investigational first-in-class WEE1 inhibitor, azenosertib. Focused on translating WEE1 science into clinical practice, we aim to equip physicians with a targeted, non-chemo, orally available medicine that enhances treatment experience, choice, and outcomes. Our mission: to unburden cancer patients with more convenience and care.​</p>  <p><strong>Forward-Looking Statements</strong></p>  <p>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Certain statements contained in this press release, including, without limitation, those relating to the timing and completion of the offering, the satisfaction of customary closing conditions related to the offering, the anticipated total gross proceeds from the offering, the planned use of proceeds of the offering, the sufficiency of the proceeds of the offering and the Company’s cash, cash equivalents and marketable securities to fund its operating expenses and capital expenditures, are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties associated with market conditions, the satisfaction of customary closing conditions related to the offering as well as the anticipated use of proceeds of the offering, general economic conditions and other risks identified from time to time in the reports the Company files with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the final prospectus supplement and accompanying prospectus related to the proposed offering to be filed with the SEC, which are available at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of the statements. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.<br></br></p>  <p><strong>Contact:</strong><br></br>Aron Feingold<br></br>VP, Investor Relations &amp; Corporate Communications<br></br><a href="https://www.globenewswire.com/Tracker?data=6Huu-WI36znU3J1dc_B0TGiNaEe7sRybYBRt-c2or4-ZAh4xdI4OBHz79Ybk5sU7KqtOzwMp4U8OVoT4gBIIgqzaw_KYbInRCTlLoCTF7UAADAa7YvT0SLoxD8Zg1xh5lKK30mYnK1toewdsVGBRGNhW3ySo7emq5xshSFt2T0jOeCTFLBXCM6a4E6AwjVAkxBDLmhogZ32UgsLiko3wOSmBHViXd-BXDF3kowJ0txTgkujlgRKj5Zzlkz1yIntSbZgQUtAS_wGGY-GMmU1hk8UqDRwv8-HBrI1r818I3Ao0HMBEU8Xjp1l1bV1vo4bNZ5fieNAWzC8m0ozGJtF48JYoxKvqGkh2Rr7gwdArsZoO2PenPQDf2lVQrqeo_PTLiAJ4beeZ6KQdX0peYybKxudhRPFsGmhH-Mk31sljEohTRXR_qkVCz-_Lfl-982FQaoeBQAAcCpFuSRHd20gf7brs2jnur9nXmODMIrap-RY=" rel="nofollow" target="_blank">ir@zentalis.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxMDEwNSM3Nzc2NTQyIzIxOTQ3NDM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MmNkMTM4ZDYtNjA3ZS00NzQ1LWI3NzItMDQ1NDViOGMwNzllLTEyMDYyOTYtMjAyNi0wOC0xNC1lbg==/tiny/ZENTALIS-PHARMACEUTICALS.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/ecb98bea-7a9f-4319-874c-1911777a5a46"><img src="https://ml.globenewswire.com/media/ecb98bea-7a9f-4319-874c-1911777a5a46/small/zentalis-logo-full-color-png.png" border="0" width="150" height="39" alt="Primary Logo"></img></a></p>

Zentalis announced an underwritten public offering of 23 million shares at $3.50, raising about $80.5 million, with a 30-day option for 3.45 million more. Proceeds will fund trials, diagnostics, manufacturing, regulatory filings, and general corporate purposes, extending cash runway for its WEE1 program azenosertib. The move introduces dilution near term, requiring milestones to unlock longer-term value.

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Zentalis Pharmaceuticals Announces Pricing of Underwritten Public Offering

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Corporate Developments