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%.