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Zentalis issued a press release on January 28, 2025, “announc[ing] a restructuring of its business operations and research and development organization to support execution of late-stage development for its WEE1 inhibitor product candidate, azenosertib, and extend its cash runway beyond a data readout from its potentially registration-enabling DENALI Part 2 study, anticipated by the end of 2026.” Zentalis stated that “[t]he workforce reduction is expected to be substantially completed in the second quarter of 2025.”
Following this news, Zentalis’s stock price fell sharply during intraday trading on January 29, 2025.