Zentalis Q3 cash $280.7M, cuts R&D spend 37% YoY; DENALI trial on track for data by YE2026

Zentalis Pharmaceuticals, Inc.

2025-Q3 EPS reported -$1.42 vs consensus -$0.54 ▼ miss (-163.7%)

Cash and marketable securities $280.7M as of Sep 30, 2025; runway into late 2027.
R&D expenses $23.0M in Q3 2025, down 37.5% from $36.8M in Q3 2024.
G&A expenses $10.8M, down 26% from $14.6M YoY.
Phase 2 DENALI trial of azenosertib in Cyclin E1-positive PROC on track; topline data expected by year end 2026, potentially supporting accelerated approval.
TETON Phase 2 in USC completed enrollment; further development limited to partnering or capital allocation.

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