Zentalis bets everything on a last-chance ovarian cancer drug
Zentalis Pharmaceuticals, a small biotech firm, is facing a tough market despite its promising cancer drug. The company’s stock price has fallen sharply in 2025, with investors treating its pipeline as a burden rather than an opportunity. Yet, its sole focus—a potential treatment for a rare and aggressive form of ovarian cancer—remains in late-stage testing.
The firm’s lead drug, azenosertib, targets platinum-resistant ovarian cancer in patients whose tumours overexpress cyclin E1. Early trials showed encouraging results, with a 31.5% objective response rate and a median progression-free survival of 4.4 months. Now, the company is running a key trial, DENALI, to confirm whether the drug works well enough for approval.
Zentalis Pharmaceuticals now trades at a steep discount, reflecting scepticism about its lone drug candidate. If the DENALI trial succeeds in late 2026, the stock could rebound sharply. For now, however, investors must weigh the long wait against the possibility of failure and limited liquidity.
