Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Rule 5635(c)(4) - June 3, 2024

June 03, 2024 – Zentalis Pharmaceuticals, Inc., a clinical-stage biopharmaceutical firm listed on Nasdaq under the symbol ZNTL, has disclosed that its Compensation Committee has granted non-qualified stock options to purchase a total of 20,000 shares of company common stock to two newly hired employees. These stock options were issued as a part of the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) to attract new talent in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2022 Inducement Plan is exclusively designed for issuing equity awards to individuals who are either new to Zentalis or rejoining after a significant period of non-employment. These awards serve as a critical inducement for individuals to commence employment with the company, in compliance with Nasdaq Listing Rule 5635(c)(4).

The awarded stock options have an exercise price of $11.40 per share, matching the closing price of Zentalis’ common stock on the Nasdaq Global Market at the time of the grant. These options come with a 10-year term and have a vesting schedule spread over four years. Specifically, 25% of the options will vest after one year from the vesting commencement date, with the remaining 75% vesting monthly over the subsequent three years. The vesting is contingent on the continuous service of the employees to Zentalis on each vesting date.

About Zentalis Pharmaceuticals

Zentalis Pharmaceuticals, Inc. is a cutting-edge biopharmaceutical company engaged in the discovery and development of small molecule therapeutics that target essential biological pathways in cancer treatment. The company's primary product candidate, azenosertib (ZN-c3), is a WEE1 inhibitor, potentially setting new standards for treating advanced solid tumors and hematologic malignancies. Azenosertib is being tested both as a monotherapy and in combination with other treatments across various clinical trials, showing promise due to its broad franchise potential.

In clinical evaluations, azenosertib has been well tolerated and has demonstrated significant anti-tumor activity, both as a standalone treatment and in combination with multiple chemotherapy regimens. Zentalis is also focusing on enrichment strategies for tumors with high genomic instability, such as Cyclin E1 positive tumors, homologous recombination deficient tumors, and tumors with specific oncogenic mutations.

Zentalis is leveraging its in-depth knowledge of cancer biology and medicinal chemistry to advance research in protein degraders, adding to its comprehensive approach in cancer treatment. The company operates out of New York and San Diego, continuing its mission to develop innovative cancer therapies.

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