Oncology company Zentalis posts double-digit gain after pricing upsized IPO

For the handful of biotechs waiting in the IPO queue, Zentalis’ upsized offering and early aftermarket performance offer encouraging signs that the public markets remain receptive to new biopharma listings, even amid weeks of uncertainty due to the COVID-19 outbreak.

Zentalis Pharmaceuticals Inc. (NASDAQ:ZNTL) gained $5.20 (29%) to $23.20 on Friday, touching an intraday high of $26.99, after raising $165.2 million through the sale of 9.2 million shares at $18. The offering price, which was at the top end of its proposed range, valued the cancer company at $619.3 million...