Why Is Small-Cap Cancer-Focused Zentalis Pharma Stock Trading Lower On Tuesday?
Portfolio Pulse from Vandana Singh
Zentalis Pharmaceuticals Inc (NASDAQ:ZNTL) announced that the FDA has placed a partial clinical hold on several studies of its cancer drug azenosertib following two recent deaths. Despite this, the company remains optimistic about the drug's potential and plans to share more data later this year. ZNTL shares are down 24.9% in premarket trading.
June 18, 2024 | 12:44 pm
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Zentalis Pharmaceuticals Inc (NASDAQ:ZNTL) faces a partial clinical hold from the FDA on its azenosertib studies due to two recent deaths. Despite the setback, the company remains optimistic about the drug's potential and plans to share more data later this year. ZNTL shares are down 24.9% in premarket trading.
The FDA's partial clinical hold on azenosertib studies is a significant regulatory setback for Zentalis Pharmaceuticals, leading to a sharp decline in its stock price. The news is highly relevant and important for investors as it directly impacts the company's key drug development program.
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