Anthony Sun, Zentalis CEO

Pfiz­er nabs dis­count­ed stake in Zen­tal­is af­ter AACR22 da­ta left the biotech bruised

Af­ter a dis­ap­point­ing da­ta re­lease at AACR bat­tered its stock, Zen­tal­is Phar­ma­ceu­ti­cals is look­ing to re­bound with a sev­en-fig­ure eq­ui­ty in­vest­ment from a phar­ma­ceu­ti­cal com­pa­ny.

The biotech has agreed to sell $25 mil­lion in stock to Pfiz­er, good for near­ly 1 mil­lion shares priced at $26.21 apiece. The com­mon shares were of­fered to Pfiz­er in a reg­is­tered di­rect of­fer­ing, which is ex­pect­ed to close on April 29. Pfiz­er ex­ec Adam Schay­owitz, who leads the breast can­cer, col­orec­tal can­cer and melanoma teams at Pfiz­er, will join Zen­tal­is’ sci­en­tif­ic ad­vi­so­ry board as well.

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