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ZNTL

Zentalis Pharmaceuticals, Inc.

ZNTL

Zentalis Pharmaceuticals, Inc. • NASDAQ
$1.43 ▼ -0.69% (-0.01)
Market Cap $103.32 M
52w High $4.00
52w Low $1.01
Dividend Yield 0%
P/E -0.69
Volume 289.00K
Outstanding Shares 72.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $33.734M ▼ $-26.691M ▲ 0% $-0.37 $-26.531M ▲
Q2-2025 $0 $36.058M ▼ $-26.874M ▲ 0% $-0.37 ▲ $-34.746M ▲
Q1-2025 $0 ▼ $45.623M ▼ $-48.279M ▼ 0% ▲ $-0.67 $-37.565M ▲
Q4-2024 $26.865M ▲ $76.714M ▲ $-47.472M ▼ -176.706% ▼ $-0.67 ▼ $-45.796M ▲
Q3-2024 $0 $51.432M $-40.158M 0% $-0.56 $-51.111M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $280.697M ▼ $327.25M ▼ $74.376M ▼ $252.874M ▼
Q2-2025 $303.431M ▼ $351.707M ▼ $77.212M ▼ $274.495M ▼
Q1-2025 $332.453M ▼ $384.021M ▼ $88.639M ▼ $295.382M ▼
Q4-2024 $371.084M ▼ $430.337M ▼ $93.151M ▼ $337.186M ▼
Q3-2024 $391.252M $450.661M $96.33M $354.331M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-26.691M ▲ $-26.963M ▲ $28.321M ▼ $115K ▲ $1.473M ▲ $-26.963M ▲
Q2-2025 $-26.874M ▲ $-34.708M ▼ $30.378M ▼ $0 ▼ $-4.33M ▼ $-34.708M ▼
Q1-2025 $-48.279M ▼ $-32.636M ▲ $40.475M ▲ $189K ▲ $8.028M ▲ $-32.636M ▲
Q4-2024 $-47.472M ▼ $-39.702M ▲ $32.283M ▼ $0 ▼ $-7.419M ▼ $-39.702M ▲
Q3-2024 $-40.158M $-44.045M $48.243M $92K $4.344M $-44.045M

Five-Year Company Overview

Income Statement

Income Statement Zentalis is still very much a research company rather than an operating business. Revenue is essentially negligible, so the income statement is driven almost entirely by research and development and related operating costs. Losses have been consistent every year since the IPO, which is typical for a clinical‑stage biotech. The most recent year shows that losses remain substantial but are no longer worsening and may even be narrowing a bit, suggesting some cost discipline while they advance the pipeline. Still, the path to true profitability depends almost entirely on eventual drug approvals and commercialization, which remain several steps away.

Balance Sheet

Balance Sheet The balance sheet shows a company funded mainly by equity, with a meaningful base of assets and only modest use of debt. Shareholders’ equity is positive, which is healthy, but it has begun to edge down as cumulative losses weigh on the company. Cash forms an important part of total assets but is not overwhelmingly large, so ongoing spending will gradually erode this cushion unless offset by partnerships, licensing, or new funding. Overall, the balance sheet looks reasonable for a clinical‑stage biotech but not immune to future financing needs if timelines slip or trial costs rise.

Cash Flow

Cash Flow Cash flow reflects a classic biotech profile: steady, sizeable cash outflows from operations with no offsetting inflows from product sales. Free cash flow is negative and closely tracks operating cash burn, since capital spending needs are quite low. This means nearly every dollar of cash use is going into running trials and the organization. The company will continue to depend on its cash reserves and external capital sources until one or more programs reach a stage where partnerships, milestone payments, or product revenue can ease the burn. Management’s stated runway into the second half of the decade is an important support, but it is still tied to assumptions about spending and trial progress.

Competitive Edge

Competitive Edge Competitively, Zentalis occupies a focused but potentially powerful niche as a leading player in WEE1 inhibition for cancer. Several larger companies have stepped back from this target, leaving Zentalis with a head start and less direct competition in this specific space. Their biomarker‑driven approach, especially around Cyclin E1‑positive tumors, gives them a more precise way to select patients, which can improve trial outcomes and strengthen their position with regulators and clinicians. Fast Track designation in ovarian cancer adds to this edge. The flip side is concentration risk: the competitive story is heavily anchored to one main asset, so the company’s position is strong if azenosertib works as hoped, but vulnerable if key trials disappoint or rivals re‑enter the field with better data.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of Zentalis’ identity. The Integrated Discovery Engine is designed to move from idea to clinical testing faster than typical industry timelines, focusing on targets that are already biologically validated and then engineering more refined molecules. Azenosertib exemplifies this, with a design aimed at being both highly selective and more tolerable than earlier WEE1 efforts. Beyond this, ZN‑d5 offers a secondary pillar in blood cancers, and the company has shown willingness to prune less promising programs and out‑license non‑core technologies, such as its ROR1 antibody‑drug conjugate platform. This combination of scientific depth, a concentrated pipeline, and active portfolio management suggests a focused R&D culture, but it also means success is heavily dependent on a relatively small number of late‑stage bets.

Summary

Zentalis is a classic clinical‑stage oncology biotech: minimal current revenue, persistent but purposeful losses, and a story that is almost entirely about future clinical and regulatory outcomes rather than today’s earnings. Financially, it has a workable balance sheet and an expected cash runway, but its ongoing cash burn means external capital or deal‑making will likely remain important over time. Strategically, the company has carved out a leadership position in WEE1 inhibition, supported by a sophisticated discovery platform, biomarker‑guided development, and supportive regulatory signals. The main opportunity lies in turning this scientific and competitive promise—especially around azenosertib—into successful pivotal data and eventual approvals. The main risks center on clinical trial uncertainty, concentration in a few key assets, and the need to sustain funding until the science proves itself at scale.

NEWS

November 10, 2025 · 4:05 PM UTC

Zentalis Pharmaceuticals Reports Third Quarter 2025 Financial Results and Operational Progress

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November 3, 2025 · 5:25 PM UTC

Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 3, 2025 · 8:15 AM UTC

Zentalis Pharmaceuticals to Participate in Upcoming Investor Conferences

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October 13, 2025 · 4:05 PM UTC

Zentalis Pharmaceuticals Announces Four Azenosertib Posters Presentations at AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics

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October 1, 2025 · 5:20 PM UTC

Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Read more