Zentalis Pharmaceuticals shares hit record low following leadership shakeup and Q3 losses

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The company’s financial woes have been further compounded by an increase in Q3 losses, which rose to $55.5 million from $54.4 million in the same period last year. This translates into a loss of 79 cents per share compared to the previous year’s 96 cents, despite a reduced share base.

A significant factor contributing to these increased losses is a surge in overhead costs by $4 million, largely due to heightened staffing expenses and increased expenditure on facilities and external services. The company now faces the challenge of navigating these financial difficulties amidst a change in leadership.

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