H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Zentalis (ZNTL) to $10 from $20 and keeps a Buy rating on the shares after the company hosted a corporate event to provide a developmental and regulatory update on its lead asset, azenosertib. Zentalis remains committed to developing azenosertib for cyclin E1-positive platinum-resistant ovarian cancer and the company plans to finalize dose confirmation discussions with the FDA in 2025, with topline data from the Denali Part 2 study expected by late 2026, the analyst noted. Following a strategic restructuring that includes a 40% workforce reduction, the event highlighted the progress of azenosertib across multiple programs, the analyst added.
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Read More on ZNTL:
- Zentalis price target lowered to $10 from $20 at Oppenheimer
- Zentalis Pharmaceuticals Announces New Study for Azenosertib
- Zentalis presents updated clinical data on azenosertib
- Zentalis to reduce workforce by 40% in business restructuring
- Zentalis Pharmaceuticals Restructures to Advance Oncology Product