jonzobot - From the NR dated Nov 15, 2021 that you referenced, the development program was scheduled to take 15 months and had a budget of $10 million. Newsora is responsible for paying for this development program from this line in that news release (Newsoara will have the rights to develop, market, and distribute ZEN-3694).
Zenith May be listed as a sponsor however it is up to Newsora to pay for the program. No money no program. DM has been very clear on this Newsora program for years now.
ZEL has a drug and a little capital. They have entered into a number of different trials all of which are being paid for by 3rd parties. As with most things in life, he who has the gold makes the rules. Someone else is calling the shots in all of ZEL's trials.
tada