QUÉBEC CITY, Oct. 22, 2012 /CNW
Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ)
(the "Company") today announced that on October 19, 2012,
NASDAQ notified the Company that it has regained compliance with
Rule 5450(a)(1), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Global
Market.
Commenting on the announcement, Juergen
Engel, Ph.D., President and Chief Executive Officer, stated:
"We are pleased that we have been able to regain compliance with
NASDAQ's minimum bid price rule, which is important in maintaining
liquidity in the trading of our common shares. We will continue to
pursue our objective of maximizing shareholder value with a goal of
becoming a specialty oncology and endocrinology company developing
drugs for indications with various unmet medical needs."
About Aeterna Zentaris
Aeterna Zentaris is an oncology and endocrinology drug
development company currently investigating treatments for various
unmet medical needs. The Company's pipeline encompasses compounds
at all stages of development, from drug discovery through to
marketed products. For more information please visit
www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the U.S. 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. For example, because the market price
of the Company's Common Shares will also be based on the Company's
financial and operational results, its financial position,
including its capital availabilities and liquidity resources, the
development of its product pipeline, market conditions, the market
perception of its business and other factors, which are unrelated
to the number of shares outstanding, there can be no assurance that
the market price of the Common Shares will in fact increase
following the Consolidation or will not decrease in the future, or
that the minimum closing bid price of the Common Shares will meet
NASDAQ's minimum bid price requirement. Further, there can be no
assurance that the Consolidation alone will guarantee the continued
listing of the Common Shares on The NASDAQ Global Market or that
the Common Shares will not be delisted due to a failure to meet
other NASDAQ continued listing requirements. Other 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 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
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.