Full Press Release Details
Zentaris Announces Shareholder Approval of Share Consolidation
ONTARIO, July 15, 2022 - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) ("Aeterna" or the
"Company"), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical
and diagnostic products, today announced that the proposed consolidation of the Company's shares (the "Share Consolidation")
was approved at its reconvened annual meeting of shareholders (the "Meeting") held today.
the Meeting, the Company's board of directors approved the Share Consolidation on the basis of one post-Share Consolidation share
for every twenty-five pre-Share Consolidation shares. The Company expects to file articles of amendment to implement the Share Consolidation
in the coming days. The Share Consolidation remains subject to the approval of the Toronto Stock Exchange and the Nasdaq Capital Market.
additional information regarding the Share Consolidation, please refer to the Company's Notice of Annual General and Special Meeting
of Shareholders and Management Information Circular dated May 16, 2022, which are available on SEDAR at www.sedar.com or EDGAR
Aeterna Zentaris Inc.
Zentaris is a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic
products focused on areas of significant unmet medical need. The Company's lead product, macimorelin (Macrilen ; Ghryvelin ),
is the first and only U.S. FDA and European Commission approved oral test indicated for the diagnosis of adult growth hormone deficiency
(AGHD). The Company is leveraging the clinical success and compelling safety profile of macimorelin to develop it for the diagnosis of
childhood-onset growth hormone deficiency (CGHD), an area of significant unmet need, in collaboration with Novo Nordisk.
Zentaris is dedicated to the development of therapeutic assets and has recently taken steps to establish a growing pre-clinical pipeline
to potentially address unmet medical needs across a number of indications, including neuromyelitis optica spectrum disorder (NMOSD),
Parkinson's disease (PD), hypoparathyroidism and amyotrophic lateral sclerosis (ALS; Lou Gehrig's disease). Additionally,
the Company is developing an oral prophylactic bacterial vaccine against SARS-CoV-2 (COVID-19) and Chlamydia trachomatis.
more information, please visit www.zentaris.com and connect with the Company on Twitter, LinkedIn and Facebook.
press release contains statements that may constitute forward-looking statements within the meaning of U.S. and Canadian securities legislation
and regulations and such statements are made pursuant to the safe-harbor provision of the U.S. Securities Litigation Reform Act of 1995.
Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates,"
"believes," "intends," "potential," "possible," and similar expressions. Such statements,
based as they are on current expectations of management, inherently involve numerous risks, uncertainties and assumptions, known and
unknown, many of which are beyond our control. Forward-looking statements in this press release include, but are not limited to, those
relating to: the impact and timing of the Consolidation.
statements involve known and unknown risks and uncertainties, and other factors which may cause the actual results, performance or achievements
stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking
information. Such risks and uncertainties include, among others, results from ongoing or planned pre-clinical studies of our products
under development may not be successful or may not support advancing the product to human clinical trials; our ability to raise capital
and obtain financing to continue our currently planned operations; our now heavy dependence on the success of macimorelin (sold under
the trade names Macrilen in the United States and Ghryvelin in the EU) and related out-licensing arrangements
and the continued availability of funds and resources to successfully commercialize the product, including our heavy reliance on the
success of the license agreement and the amended license agreement (collectively the Novo Amended License Agreement) and our license
agreement with Consilient Health; the global instability due to the global pandemic of COVID-19 and the war in Ukraine and the resulting
geopolitical instability, and its unknown potential effect on our planned operations; our ability to enter into out-licensing, development,
manufacturing, marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect; and our
ability to continue to list our shares on the NASDAQ. Investors should consult our quarterly and annual filings with the Canadian and
U.S. securities commissions for additional information on risks and uncertainties, including those risks discussed in our Annual Report
on Form 20-F, under the caption "Risk Factors". Given the uncertainties and risk factors, readers are cautioned not to place
undue reliance on these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce any
revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, unless required
to do so by a governmental authority or applicable law.
securities regulatory authority has either approved or disapproved of the contents of this news release. The Toronto Stock Exchange accepts
no responsibility for the adequacy or accuracy of this release.
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