02:17 PM EDT, 08/09/2024 (MT Newswires) -- Zentalis Pharmaceuticals ( ZNTL ) shares were down nearly 10% in recent trading on Friday after the company posted a wider-than-expected Q2 net loss.

The company reported Q2 net loss of $1.24 per diluted share, narrowing from a loss of $1.85 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.83 per share.

The company did not report revenue in the quarter that ended June 30 or a year earlier. Analyst estimates were not available for comparison.

As of June 30, the biopharmaceutical company had $426.4 million in cash, cash equivalents and marketable securities.

The company projected its cash runway into mid-2026.

Price: 2.99, Change: -0.33, Percent Change: -9.82