Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Rule 5635(c)(4)

On June 3, 2024, Zentalis® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on developing small molecule therapeutics for cancer treatment, made a significant announcement. The Compensation Committee of Zentalis' Board of Directors has granted non-qualified stock options for a total of 20,000 shares of the company's common stock to two newly recruited employees. These stock options were awarded under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan, designed to attract new talent in line with Nasdaq Listing Rule 5635(c)(4).

The 2022 Inducement Plan is specifically utilized for granting equity awards to individuals who are new to Zentalis or are rejoining after a bona fide period of non-employment. The stock options granted come with an exercise price of $11.40 per share, matching the closing price of Zentalis' common stock on The Nasdaq Global Market on the grant date. These options feature a 10-year term and will vest over a four-year period. Specifically, 25% of the options will vest on the first anniversary of the vesting commencement date, and the remaining 75% will vest in equal monthly installments over the subsequent three years, contingent upon the employee's continued service to Zentalis.

Zentalis Pharmaceuticals is a clinical-stage biopharmaceutical company that focuses on discovering and developing small molecule therapeutics targeting critical biological pathways in cancer. The company's leading product candidate, azenosertib (ZN-c3), is a promising WEE1 inhibitor for treating advanced solid tumors and hematologic malignancies. Azenosertib is being evaluated both as a standalone treatment and in combination with other therapies across multiple clinical trials. It has shown broad potential in its franchise, demonstrating anti-tumor activity and tolerability as a single agent in trials involving various tumor types and combination with different chemotherapy regimens.

As part of its clinical development program for azenosertib, Zentalis is also investigating strategies to target tumors characterized by high genomic instability. This includes tumors positive for Cyclin E1, homologous recombination deficient tumors, and those with oncogenic driver mutations. The company is also leveraging its expertise in cancer biology and medicinal chemistry to advance research on protein degraders. With operations based in both New York and San Diego, Zentalis Pharmaceuticals continues to expand its impact in the field of oncology therapeutics.

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