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March 30, 2020, 6:53 a.m. EDT

Zentalis Pharmaceuticals sets IPO terms, to be valued at up to $592 million

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By Tomi Kilgore

Zentalis Pharmaceuticals /zigman2/quotes/217746742/composite ZNTL +26.44% set terms of its initial public offering, in which the biopharmaceutical company developing cancer treatments is expected to raise up to $137.7 million. Zentalis is offering 7.65 million shares in the IPO, which is expected to price between $16 and $18 a share. That would give the company a market capitalization of up to $591.7 million. The stock is expected to list on the Nasdaq exchange under the ticker symbol "ZNTL." The lead underwriters are Morgan Stanley, Jefferies, SVB Leerink and Guggenheim Securities. The company recorded a net loss of $45.7 million in 2019 on no revenue, after a loss of $21.1 million on $14,000 in revenue in 2018. Zentalis is looking to go public at a time the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +4.55% has declined 15% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% has lost 21%.

/zigman2/quotes/217746742/composite
US : U.S.: Nasdaq
$ 52.22
+10.92 +26.44%
Volume: 338,280
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.87 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 36.73
+1.60 +4.55%
Volume: 9,290
May 29, 2020 3:59p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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