(All amounts are in US dollars)
QUEBEC CITY, July 30, 2013 /PRNewswire/ - Aeterna Zentaris
Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announced
today that it has completed its previously announced registered
direct offering of $7.8 million
of units comprised of common shares and common share purchase
warrants to certain institutional investors. Net proceeds from this
offering, after deducting placement agent fees and other offering
expenses, total approximately $7
million. All of the securities were offered pursuant to an
effective shelf registration statement. Proceeds from the
transaction will be used to continue to fund the Company's ongoing
drug development activities, primarily for the advancement of its
zoptarelin doxorubicin (AEZS-108) program, secondly for its
macimorelin acetate (AEZS-130) program, as well as for general
corporate purposes and working capital.
Burrill Securities LLC acted as the exclusive placement agent
for the transaction.
As of July 30, 2013 and after
issuing 5.2 million common shares at the closing of this offering,
the Company had approximately 31.2 million 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.
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 from
drug discovery to regulatory approval. 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 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. 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.