FX.co ★ Zentalis Pharmaceuticals Stock Plunges After 40% Workforce Cut Announcement

Zentalis Pharmaceuticals, Inc. (ZNTL) has experienced a notable 24.38% decrease in its stock value following the announcement of substantial workforce reductions on Tuesday.

Currently, ZNTL's stock is trading at $2.00, a decline of $0.58 from its previous closing price of $2.40. The stock opened at $1.77, with the day's trading fluctuating between a low of $1.77 and a high of $2.37.

Over the past 52 weeks, the stock has seen prices range from $1.77 to $18.07. Today's trading volume has surged to 9.5 million shares, greatly exceeding the average volume of 1.5 million shares.

The company's disclosure of plans to reduce its workforce by approximately 40% has significantly shaken investor confidence.