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2025-01-29 05:51
Zentalis Pharmaceuticals (NASDAQ:ZNTL) said it plans to cut around 40% of its workforce as part of a major restructuring that will extend its cash runway into late 2027.
The biotech company said it plans to restructure its operations to support late-stage development of its drug candidate azenosertib. A data readout from a potentially registration-enabling study called DENALI Part 2 is expected by the end of 2026.
Zentalis (NASDAQ:ZNTL) expects the layoffs to be mostly completed in Q2. The company plans to present data and issue a regulatory update on azenosertib on Wednesday, according to a statement.