SHAREHOLDER ALERT: Investigation on Behalf of Aeterna Zentaris, Inc. Investors Announced by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Aeterna Zentaris, Inc. (“Aeterna Zentaris” or the “Company”) (NASDAQ:AEZS). The investigation concerns possible violations of federal securities laws and focuses on certain statements issued by Aeterna Zentaris concerning the Company’s operations and business prospects.

Aeterna Zentaris is a specialty biopharmaceutical company engaged in the development and commercialization of novel treatments in oncology and endocrinology. The investigation is related to the Company’s November 6, 2014, announcement that it has received a Complete Response Letter from the U.S. Food and Drug Administration for Aeterna Zentaris’ New Drug Application (NDA) for Macrilen™ (macimorelin), an orally-active ghrelin agonist, for use in evaluating adult growth hormone deficiency.

According to the Company, the FDA’s review of the application has determined that the NDA cannot be approved in its present form. Among other things, the Complete Response Letter notes: (1) the planned analysis of the Company’s pivotal trial did not meet its stated primary efficacy objective as agreed to in the Special Protocol Assessment agreement letter between the Company and the FDA; and (2), issues related to the lack of complete and verifiable source data for determining whether patients were accurately diagnosed with adult growth hormone deficiency. In light of the failed primary analysis and data deficiencies noted, the FDA concluded that “the clinical trial does not by itself support the indication,” and the Company will need to demonstrate the drug’s efficacy in a new, confirmatory clinical study.

If you purchased shares of Aeterna Zentaris, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

Law Offices of Howard G. SmithHoward G. Smith, Esquire(215) 638-4847(888) 638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com

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