QUÉBEC CITY, June 10, 2014
/PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS)
(TSX: AEZ) (the "Company") today announced the
roll-out of a global resources optimization program as the Company
pursues its strategy of transitioning into a commercially operating
specialty biopharmaceutical company. Initiated earlier this year,
the program's goal is to streamline R&D activities and increase
commercial operations and flexibility. With the implementation of
the global resources optimization program, the Company expects to
have approximately 65 employees by year-end, as compared to 90
employees at the beginning of 2014. Due to the nature of certain
proceedings, the Company intends to provide an estimate of the
anticipated global restructuring charges and future cost savings as
and when the financial and accounting implications of the global
resources optimization program become better defined.
David Dodd, Chairman, CEO of
Aeterna Zentaris commented, "These difficult but prudent and
necessary decisions ensue from our recent in-depth review of all of
the Company's activities, mainly of our drug discovery activities
in order to streamline our operations, optimize our resources and
R&D productivity, reduce our operating cash burn and more
appropriately, align our financial resources with our strategic
goal of transitioning into a commercially operating specialty
biopharmaceutical company. Through this global resources
optimization program, we expect to become more efficient and better
focused on the potential launch of MACRILENTM for the
evaluation of adult growth hormone deficiency, on the required
patient recruitment to secure a first interim analysis for our
current Phase 3 ZoptEC trial in endometrial cancer, as well as on
the future development of some of our promising Erk inhibitor
compounds. As for commercial activities, we have started building
our core business team based at our new global commercial hub in
Charleston, South Carolina, thus
increasing efforts on potential in-licensing, acquisition and
co-promotion agreements for revenue-generating marketed
products."
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing novel treatments in oncology and
endocrinology. The Company's pipeline encompasses compounds at
various stages of development. For more information, visit
www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the US Securities
Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties that 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 risk that safety and efficacy data from any of our
Phase 3 trials may not coincide with the data analyses from
previously reported Phase 1 and/or Phase 2 clinical trials, the
ability of the Company to efficiently commercialize one or more of
its products or product candidates, the ability of the Company to
take advantage of business opportunities in the pharmaceutical
industry, uncertainties related to the regulatory process, the
specific outcome of our recently announced global resources
optimization program and the financial impact on the Company
resulting therefrom, and general changes in economic conditions.
Investors should consult the Company's quarterly and annual filings
with the Canadian and US securities commissions for additional
information on risks and uncertainties relating to 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, unless
required to do so by a governmental authority or by applicable
law.
SOURCE Aeterna Zentaris Inc.