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Zentalis (ZNTL) Plunges More Than 70% in 3 Months: Here's Why
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Shares of Zentalis Pharmaceuticals, Inc. (ZNTL - Free Report) have plunged 71.7% in the past three months against the industry’s growth of 6.2%.
The company is developing its lead product candidate, azenosertib, a potentially first-in-class WEE1 inhibitor, as a monotherapy and in combination with other therapies for treating different types of cancer indications, including solid tumors and ovarian cancer.
In June 2024, the FDA placed a partial clinical hold on three studies evaluating azenosertib for three different cancer indications.
The phase I ZN-c3-001 dose-escalation study evaluated azenosertib for treating solid tumors, while the phase II ZN-c3-005 DENALI study investigated azenosertib in platinum-resistant ovarian cancer (PROC). The phase II ZN-c3-004 TETON study evaluated azenosertib for the treatment of uterine serous carcinoma.
The regulatory body placed a partial clinical hold on all these studies after two patients in the DENALI study died due to presumed sepsis.
This could have been the primary reason for the stock’s decline during the said time.
Image Source: Zacks Investment Research
Top-line data from cohort 1b of the DENALI study is expected to be announced later in the second half of 2024. Zentalis also plans to present data from the ZN-c3-001 and the MAMMOTH studies later in the ongoing year.
The phase I/II MAMMOTH (ZN-c3-006) study is evaluating azenosertib in combination with GSK’s (GSK - Free Report) PARP inhibitor Zejula (niraparib) and azenosertib as monotherapy for treating PROC.
The study is being conducted in partnership with GSK.
GSK’s Zejula is already approved for ovarian cancer and is currently being studied for additional ovarian cancer stages as well as non-small cell lung cancer and endometrial cancer.
Earlier this month, Zentalis announced its second-quarter results where the company announced that it has discontinued the development of its BCL-2 inhibitor, ZN-d5.
The company evaluated ZN-d5 in a phase I study in combination with azenosertib for the treatment of relapsed or refractory acute myeloid leukemia.
Also, further updates on the azenosertib clinical development program, as well as the timeline for data readouts from other studies on azenosertib, are expected once the partial clinical hold is resolved.
As of Jun 30, 2024, Zentalis had cash, cash equivalents and marketable securities worth $426.4 million. Management believes that its existing cash, cash equivalents and marketable securities will be enough to fund its ongoing operations into mid-2026.
In the past 60 days, estimates for Illumina’s 2024 earnings per share have moved up from $1.07 to $3.16. Earnings per share estimates for 2025 have improved from $2.93 to $4.50. Year to date, shares of ILMN have lost 5.6%.
ILMN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 463.46%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have narrowed from $1.24 to 48 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.51. Year to date, shares of FULC have jumped 35.9%.
FULC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 393.18%.
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Zentalis (ZNTL) Plunges More Than 70% in 3 Months: Here's Why
Shares of Zentalis Pharmaceuticals, Inc. (ZNTL - Free Report) have plunged 71.7% in the past three months against the industry’s growth of 6.2%.
The company is developing its lead product candidate, azenosertib, a potentially first-in-class WEE1 inhibitor, as a monotherapy and in combination with other therapies for treating different types of cancer indications, including solid tumors and ovarian cancer.
In June 2024, the FDA placed a partial clinical hold on three studies evaluating azenosertib for three different cancer indications.
The phase I ZN-c3-001 dose-escalation study evaluated azenosertib for treating solid tumors, while the phase II ZN-c3-005 DENALI study investigated azenosertib in platinum-resistant ovarian cancer (PROC). The phase II ZN-c3-004 TETON study evaluated azenosertib for the treatment of uterine serous carcinoma.
The regulatory body placed a partial clinical hold on all these studies after two patients in the DENALI study died due to presumed sepsis.
This could have been the primary reason for the stock’s decline during the said time.
Image Source: Zacks Investment Research
Top-line data from cohort 1b of the DENALI study is expected to be announced later in the second half of 2024. Zentalis also plans to present data from the ZN-c3-001 and the MAMMOTH studies later in the ongoing year.
The phase I/II MAMMOTH (ZN-c3-006) study is evaluating azenosertib in combination with GSK’s (GSK - Free Report) PARP inhibitor Zejula (niraparib) and azenosertib as monotherapy for treating PROC.
The study is being conducted in partnership with GSK.
GSK’s Zejula is already approved for ovarian cancer and is currently being studied for additional ovarian cancer stages as well as non-small cell lung cancer and endometrial cancer.
Earlier this month, Zentalis announced its second-quarter results where the company announced that it has discontinued the development of its BCL-2 inhibitor, ZN-d5.
The company evaluated ZN-d5 in a phase I study in combination with azenosertib for the treatment of relapsed or refractory acute myeloid leukemia.
Also, further updates on the azenosertib clinical development program, as well as the timeline for data readouts from other studies on azenosertib, are expected once the partial clinical hold is resolved.
As of Jun 30, 2024, Zentalis had cash, cash equivalents and marketable securities worth $426.4 million. Management believes that its existing cash, cash equivalents and marketable securities will be enough to fund its ongoing operations into mid-2026.
Zentalis Pharmaceuticals, Inc. Price
Zentalis Pharmaceuticals, Inc. price | Zentalis Pharmaceuticals, Inc. Quote
Zacks Rank & Stocks to Consider
Zentalis currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Illumina, Inc. (ILMN - Free Report) and Fulcrum Therapeutics, Inc. (FULC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Illumina’s 2024 earnings per share have moved up from $1.07 to $3.16. Earnings per share estimates for 2025 have improved from $2.93 to $4.50. Year to date, shares of ILMN have lost 5.6%.
ILMN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 463.46%.
In the past 60 days, estimates for Fulcrum Therapeutics’ 2024 loss per share have narrowed from $1.24 to 48 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.51. Year to date, shares of FULC have jumped 35.9%.
FULC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 393.18%.