Zentalis Pharmaceuticals Grants Stock Options to Newly Hired Employees

Zentalis Pharmaceuticals, a clinical-stage biopharmaceutical company focused on developing innovative cancer therapeutics, has announced the granting of non-qualified stock options to five newly hired employees. This move is part of the company’s commitment to attracting top talent and fostering a culture of growth and innovation.

The stock options, granted on July 1, 2024, under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan, are intended to serve as an inducement for these individuals to join the company. Each employee has been granted options to purchase an aggregate of 40,875 shares of Zentalis’ common stock.

The exercise price for the stock options is set at $4.19 per share, which reflects the closing price of Zentalis’ common stock on The Nasdaq Global Market on the date of the grant. These options have a 10-year term and will vest over a four-year period. The vesting schedule includes 25% of the options becoming exercisable on the first anniversary of the vesting commencement date, with the remaining 75% vesting in equal monthly installments over the following three years. Continued service to Zentalis is a requirement for the vesting of these stock options.

Zentalis Pharmaceuticals is dedicated to discovering and developing small molecule therapeutics that target fundamental biological pathways of cancers. The company’s lead product candidate, azenosertib (ZN-c3), is a promising WEE1 inhibitor being evaluated for the treatment of advanced solid tumors and hematologic malignancies. Azenosertib has shown potential as a monotherapy and in combination with other treatments in clinical trials, demonstrating anti-tumor activity across multiple tumor types.

With a focus on tumors with high genomic instability, Zentalis is exploring enrichment strategies to enhance the efficacy of azenosertib. These strategies include targeting Cyclin E1 positive tumors, homologous recombination deficient tumors, and tumors with oncogenic driver mutations. The company’s extensive experience and capabilities in cancer biology and medicinal chemistry also contribute to its research on protein degraders.

Zentalis Pharmaceuticals operates in San Diego and is committed to advancing the field of oncology through its innovative pipeline of therapeutics. For more information about the company and its research, please visit www.zentalis.com. Stay updated on Zentalis’ latest developments by following them on Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/company/zentalis-pharmaceuticals.

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