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what it is
Zentalis develops experimental cancer drugs that are still in human testing.
how it gets paid
Last year Zentalis Pharma made $67M in revenue. collaboration revenue was the main engine at $46M, or 69% of sales.
what just happened
Zentalis posted $0 of latest-quarter revenue and a $1.42 EPS loss.
At a glance
C++ balance sheet — some cracks in the foundation
65/100 earnings predictability — reasonably predictable
-$2.33 fy2024 eps est
$67M fy2024 rev est
n/a operating margin
xvary composite: 34/100 — weak
What they do
Zentalis develops experimental cancer drugs that are still in human testing.
You do not own a moat here. You own 2 lead programs and 166 employees. That is small enough to fit in a conference room, and expensive enough to burn cash fast.
How they make money
$67M
annual revenue
collaboration revenue
$46M
license revenue
$11M
milestone revenue
$7M
other revenue
$3M
The products that matter
WEE1 inhibitor in oncology
azenosertib
late-stage asset · no approved product sales
this is the story. azenosertib is the only late-stage asset called out in the snapshot, and the $280.7M cash balance exists to fund its 2026 milestones, not a broader commercial portfolio.
pipeline
Key numbers
$67M
annual revenue
That is the whole sales base. Against a $196M market cap, you are paying about 2.9 times revenue for a company with no approved drug.
-283.6%
operating margin
For every $1 of revenue, Zentalis lost about $2.84 at the operating level. That is not scale. That is strain.
1.8
beta
A 1.8 beta means the stock has moved about 80% more than the market. Your ride is faster both ways.
$37M
long-term debt
Debt is 16% of capital. For a company still hunting for approvals, that is extra pressure on a weak balance sheet.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $37M (16% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for ZNTL right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Zentalis posted $0 of latest-quarter revenue and a $1.42 EPS loss.
This is a company in development mode, so the real story is trial spend and burn, not sales. Annual revenue still came in at $67M, but the latest quarter had no revenue at all.
$0.0M
revenue
-$1.42
eps
100.0%
gross margin
the number that mattered
Zero quarterly revenue mattered most. It says the company is still waiting on science to turn into sales.
source: company earnings report, 2026
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What could go wrong
the #1 risk is azenosertib failing to deliver usable late-stage data. if that happens, the cash pile stops looking like upside protection and starts looking like the last buffer before dilution.
med
clinical trial failure or ambiguity
A negative readout hurts. An ambiguous readout also hurts. When one asset carries most of the thesis, messy data can be almost as bad as bad data because it delays the next step and weakens financing leverage.
impact: most of the $196M equity value is tied to one program producing credible results
med
cash burn turning into dilution
$280.7M in cash sounds comfortable. It is less comfortable when there is no approved product base and 2026 timelines slip. If milestones move right, you are left funding extra time with the same capital structure.
impact: shareholders absorb the financing burden long before they see product revenue
med
single-asset concentration
This page shows one late-stage asset that matters. That concentrates clinical, regulatory, timing, and safety risk in the same place. There is no second commercial engine here to soften a miss.
impact: one bad outcome can break the thesis instead of denting it
med
revenue quality looking better than it is
The page shows revenue, but the revenue is collaboration-based rather than product-based. That supports operations, yet it does not prove demand, pricing, or a commercial path you can underwrite with confidence.
impact: reported revenue can make the business look more mature than the underlying model
This is a binary setup with cash behind it, not a de-risked operating company. If azenosertib slips, disappoints, or just gets harder to finance, the valuation gap can stay open for a long time.
source: institutional data · regulatory filings · risk analysis
Pay attention to
clinical
DENALI top-line readout
Targeted for 2026. This is the main proof point for whether the lead program deserves a higher valuation or a lower one.
trial timing
ASPENOVA Phase 3 start
Also targeted for 2026. Starting on time matters because delay changes the cash story even before it changes the science story.
balance sheet
cash versus market cap
$280.7M in cash against a $196M market cap is the cleanest signal on the page. If that gap widens, investors are paying even less for the pipeline.
volatility
price stability stuck at 5 / 100
A stability score this low tells you sentiment will move before certainty arrives. If you hold this, expect the tape to react first and the evidence to arrive later.
Analyst rankings
earnings predictability
65 / 100
moderately predictable on paper. in human-speak, you should still expect biotech-style surprises because the real variables are trial timing, spending, and how collaboration revenue lands in the statements.
risk rank
5
safer than 5% of stocks. Translation: almost everything in the market offers you a steadier ride than this.
price stability
5 / 100
this is what a data-driven stock looks like. The chart is reacting to probability shifts because there is no mature operating base to anchor it.
source: institutional data
Institutional activity
institutional ownership data for ZNTL is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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