Zentalis Pharmaceuticals
ZNTL on Nasdaq. Zentalis Pharmaceuticals develops a drug for patients with ovarian cancer. Market value $199m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-66.96 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -56 cents a year. Above 10 is good.
Quality score: 30 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$2.67 a share, 120% above its 1-year low
Over the past year the price has ranged from $1.21 to $6.95.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | $0 | $0 | $67m | $0 |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | -283.6% | n/a |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.06bn | 0.07bn | 0.07bn | 0.07bn | 0.07bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt0.00× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 26% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $42 million, compared with a loss of $27 million a year ago.
- Over the past 12 months it spent $128 million more cash than it brought in, compared with $151 million a year earlier.
- 1% fewer shares than a year ago. Each share owns a bit more of the company.
- It has $25 million more cash than debt, down from $38 million a year ago.
| Quarter to | Amount |
|---|---|
| September 2024 | $0 |
| December 2024 | $27m |
| March 2025 | $0 |
| June 2025 | $0 |
| September 2025 | $0 |
| December 2025 | $0 |
| March 2026 | Not reported |
| June 2026 | Not reported |
| Quarter to | Amount |
|---|---|
| September 2024 | -$40m |
| December 2024 | -$47m |
| March 2025 | -$48m |
| June 2025 | -$27m |
| September 2025 | -$27m |
| December 2025 | -$35m |
| March 2026 | -$35m |
| June 2026 | -$42m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
None of the long-term investors we follow own it. 114 funds in all.
Largest holders overall
- 5AM Venture Management$19m
- BlackRock$18mAdded
- Squadron Capital Management$18m
- TWO Sigma Investments, LP$15mAdded
- Vanguard Capital Management$14mAdded
- Acadian Asset Management$13mCut
- Citadel Advisors$11mAdded
- Renaissance Technologies$8mCut
- Opaleye Management$7m
- Orbimed Advisors$7mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Walters William TPassive investorat least 18.8%−0.9 pts(filed with 2 related holders)Since 14 August 2026
- Walters William TPassive investorat least 9.9%+0.8 pts(filed with 1 related holder)Since 29 January 2025
- Andrew J. SchwabPassive investorat least 6.4%(filed with 6 related holders)Since 18 December 2025
- BlackRock, Inc.Passive investor5.2%+3.0 ptsSince 30 June 2026
- Squadron Capital Management LLCPassive investorat least 5.1%(filed with 3 related holders)Since 24 February 2026
- The Vanguard GroupPassive investorSold down below 5%Since 31 December 2024
- Barclays PLCPassive investorSold down below 5%Since 30 June 2026
- Millennium Management LLCPassive investorSold down below 5%Since 30 September 2025
- Sold down below 5%Since 30 December 2025
- Eventide Asset Management, LLCPassive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
Walters William T Passive investor | at least 18.8%−0.9 pts (filed with 2 related holders) | 14 August 2026 | |
Walters William T Passive investor | at least 9.9%+0.8 pts (filed with 1 related holder) | 29 January 2025 | |
Andrew J. Schwab Passive investor | at least 6.4% (filed with 6 related holders) | 18 December 2025 | |
BlackRock, Inc. Passive investor | 5.2%+3.0 pts | 30 June 2026 | |
Squadron Capital Management LLC Passive investor | at least 5.1% (filed with 3 related holders) | 24 February 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 31 December 2024 | |
Barclays PLC Passive investor | Sold down below 5% | 30 June 2026 | |
Millennium Management LLC Passive investor | Sold down below 5% | 30 September 2025 | |
Sold down below 5% | 30 December 2025 | ||
Eventide Asset Management, LLC Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $134,656, $105,418 of it under preset trading plans.
- Vultaggio VincentPAO and PFOSoldunder a preset trading plan
- Date
- 10 February 2026
- Shares
- 6,894
- Price
- $2.42
- Value
- $16,683
- Vultaggio VincentPAO and PFOSoldunder a preset trading plan
- Date
- 9 February 2026
- Shares
- 3,379
- Price
- $2.39
- Value
- $8,076
- Bruns IngmarChief Medical OfficerSold
- Date
- 9 February 2026
- Shares
- 335
- Price
- $2.39
- Value
- $801
- EASTLAND JULIA MARIECEO & President, DirectorSold
- Date
- 9 February 2026
- Shares
- 889
- Price
- $2.39
- Value
- $2,125
- Vultaggio VincentPAO and PFOSoldunder a preset trading plan
- Date
- 6 February 2026
- Shares
- 29,951
- Price
- $2.43
- Value
- $72,781
- Bruns IngmarChief Medical OfficerSold
- Date
- 6 February 2026
- Shares
- 2,962
- Price
- $2.43
- Value
- $7,198
- EASTLAND JULIA MARIECEO & President, DirectorSold
- Date
- 6 February 2026
- Shares
- 7,866
- Price
- $2.43
- Value
- $19,114
- Vultaggio VincentPAO and PFOSoldunder a preset trading plan
- Date
- 3 February 2026
- Shares
- 556
- Price
- $2.52
- Value
- $1,401
- Vultaggio VincentPAO and PFOSoldunder a preset trading plan
- Date
- 2 February 2026
- Shares
- 2,540
- Price
- $2.55
- Value
- $6,477
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 10 February 2026 | Vultaggio Vincent PAO and PFO | Sold under a preset trading plan | 6,894 | $2.42 | $16,683 |
| 9 February 2026 | Vultaggio Vincent PAO and PFO | Sold under a preset trading plan | 3,379 | $2.39 | $8,076 |
| 9 February 2026 | Bruns Ingmar Chief Medical Officer | Sold | 335 | $2.39 | $801 |
| 9 February 2026 | EASTLAND JULIA MARIE CEO & President, Director | Sold | 889 | $2.39 | $2,125 |
| 6 February 2026 | Vultaggio Vincent PAO and PFO | Sold under a preset trading plan | 29,951 | $2.43 | $72,781 |
| 6 February 2026 | Bruns Ingmar Chief Medical Officer | Sold | 2,962 | $2.43 | $7,198 |
| 6 February 2026 | EASTLAND JULIA MARIE CEO & President, Director | Sold | 7,866 | $2.43 | $19,114 |
| 3 February 2026 | Vultaggio Vincent PAO and PFO | Sold under a preset trading plan | 556 | $2.52 | $1,401 |
| 2 February 2026 | Vultaggio Vincent PAO and PFO | Sold under a preset trading plan | 2,540 | $2.55 | $6,477 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.