Full Press Release Details
terna Zentaris Inc. 1405 du
Parc-Technologique Blvd.
Qu bec (Qu bec) Canada G1P 4P5
| Press Release | |
| For immediate release |
Aeterna Zentaris Receives
on Closing of Registered Direct Offering
Quebec City, Canada, April 20,
2010 Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the Company ), a late-stage drug development company specialized in
oncology and endocrinology, announced today that it has completed its
previously announced registered direct offering of US$15 million of units
comprised of common shares and common share purchase warrants to certain
institutional investors. Aeterna Zentaris received net proceeds of
approximately US$13.7 million after deducting placement agent fees and
other offering expenses. All of the common
shares and warrants were offered pursuant to an effective shelf registration
statement. Proceeds from the
transaction will be used for general corporate purposes, including clinical
development, capital expenditures and for working capital.
Dr. Juergen Engel, Ph.D., President and CEO of
Aeterna Zentaris stated, We are very pleased with this renewed vote of
confidence from targeted specialized institutional investors. In addition,
completing this financing provides us with the necessary funds to pursue our clinical and preclinical
development programs and ensure a timely development of perifosine
currently in Phase 3 registration trials for multiple myeloma and
refractory colorectal cancer.
2010 and after issuing 11,111,111 common shares at the closing of the offering,
the Company had 74,201,065 common shares issued and outstanding without giving
effect to or assuming the exercise of any outstanding warrants.
A shelf registration
statement relating to the common shares and warrants issued in the offering
(and the common shares issuable upon exercise of the warrants) has been filed
with the Securities and Exchange Commission (the SEC ) and has been declared
effective. A prospectus supplement relating to the offering was filed with the
SEC. Copies of the prospectus supplement and accompanying prospectus may be
obtained directly from Aeterna Zentaris Inc., 1405 du Parc-Technologique
Boulevard, Quebec City, Canada G1P 4P5. This announcement is neither an offer
to sell nor a solicitation of an offer to buy any of Aeterna Zentaris common
shares or warrants. No offer, solicitation or sale will be made in any
jurisdiction in which such offer, solicitation or sale is unlawful.
Rodman & Renshaw, LLC, a subsidiary of Rodman &
Renshaw Capital Group, Inc., (Nasdaq: RODM), acted as the exclusive
placement agent for the transaction.
Aeterna Zentaris Inc.
Aeterna Zentaris Inc. is a late-stage drug development
company specialized in oncology and endocrine therapy. News releases and
additional information are available at www.aezsinc.com.
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform
Act of 1995. Forward-looking statements involve known and unknown risks and
uncertainties, which could cause the Company s actual results to differ
materially from those in the forward-looking statements. Such risks and
uncertainties include, among others, the availability of funds and resources to
pursue R&D projects, the successful and timely completion of clinical
studies, the ability of the Company to take advantage of business opportunities
in the pharmaceutical industry, uncertainties related to the regulatory process
and general changes in economic conditions. Investors should consult the
Company s quarterly and annual filings with the Canadian and U.S. securities
commissions for additional information on risks and uncertainties relating to
the forward-looking statements. Investors are cautioned not to rely on these
forward-looking statements. The Company does not undertake to update these
forward-looking statements. We disclaim any obligation to update any such
factors or to publicly announce the result of any revisions to any of the
forward-looking statements contained herein to reflect future results, events
or developments except if we are required by a governmental authority or