Full Press Release Details
Zentaris Reports Second Quarter 2023 Financial Results
| Ended the quarter with $42.2 million in cash, expected to fund operations into 2025 | ||
| Driving patient recruitment for Phase 3 DETECT trial for the diagnosis of Childhood Onset Growth Hormone Deficiency |
ONTARIO, August 9, 2023 - 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 reported its financial and operating results for the quarter ended June 30, 2023.
continued progress advancing our development and regulatory strategies are evolving and designed to provide us with a pathway towards
our first-in-human clinical studies with our lead indication, neuromyelitis optica spectrum disorder (NMOSD). Further, we established
solid traction with our ongoing DETECT trial and are working towards meeting our goal of completing enrollment by year's end,"
commented Dr. Klaus Paulini, Chief Executive Officer of Aeterna. "Importantly, we have maintained a strong cash position
to enable us to continue our strategy."
of Second Quarter 2023 Financial Results
All amounts are in U.S. dollars
and cash equivalents
The Company had $42.2 million in cash and cash equivalents at June 30, 2023.
of operations for the three-month period ended June 30, 2023
For the three-month period ended June 30, 2023, we reported a consolidated net loss of $2.5 million, or $0.52 loss per common share (basic
and diluted), as compared with a consolidated net loss of $4.2 million, or $0.87 net loss per common share (basic) for the three-month
period ended June 30, 2022.
of operations for the six-month period ended June 30, 2023
For the six-month period ended June 30, 2023, we reported a consolidated net loss of $6.8 million, or $1.39 loss per common share (basic
and diluted), as compared with a consolidated net loss of $6.9 million, or $1.41 net loss per common share (basic) for the six-month
period ended June 30, 2022.
Financial Statements and Management's Discussion and Analysis
reference, the Company's Management's Discussion and Analysis of Financial Condition and Results of Operations for the second
quarter 2023, as well as the Company's unaudited consolidated interim financial statements as of June 30, 2023, will be available
on the Company's website (www.zentaris.com) in the Investors section or at the Company's profile at www.sedarplus.com
Aeterna Zentaris Inc.
Aeterna 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.
Zentaris is dedicated to the development of its therapeutic asset and has established a pre-clinical development 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).
more information, please visit www.zentaris.com and connect with the Company on Twitter, LinkedIn and Facebook.
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," "aiming", "anticipates,"
"believes," "intends," "potential," "possible," and similar expressions. Such statements,
based as they are on current expectations of management, inherently involve numerous risks, uncertainty and assumptions, known and unknown,
many of which are beyond our control.
statements in this press release include, but are not limited to, those relating to Aeterna's expectations regarding: its ability
to use cash to fund its future operations; recruitment efforts with respect to the DETECT trial; plans regarding first-in-human studies;
and commercialization efforts regarding macimorelin.
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: we may not be successful in finding a commercialization partner for
Macrilen (macimorelin) in North America or other territories not currently partnered; we may not be able to re-launch sales of Macrilen
(macimorelin) in the United States; our reliance on the success of the DETECT trial in CGHD; results from our ongoing or planned pre-clinical
studies and our DETECT trial may not be successful or may not support advancing the product further in pre-clinical studies, to human
clinical trials or regulatory approval; our ability to raise capital and obtain financing to continue our currently planned operations;
our now heavy dependence on the success of macimorelin (Macrilen ; GHRYVELIN ) and related out-licensing arrangements and the
continued availability of funds and resources to successfully commercialize the product; 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 common 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 and annual information form 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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