QUEBEC CITY, Dec. 19, 2014 /CNW Telbec/ - Aeterna
Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company")
announced today that it has received a notice from The NASDAQ
Listing Qualifications Department indicating that the Company's
minimum bid price has fallen below $1.00 for
30 consecutive business days, and, therefore, was no longer in
compliance with NASDAQ Marketplace Rule 5550(a)(2) - bid
price. The Company has been provided 180 calendar days, or
until June 16, 2015, to regain compliance with the
minimum bid price requirement. To regain compliance, the closing
bid price of the Company's common stock must be at
least $1.00 per share for a minimum of 10
consecutive business days. This notice does not impact the
Company's listing on The NASDAQ Capital Market at
this time.
Under NASDAQ rule 5810(c)(3)(A) - compliance period, if the
Company does not regain compliance within the initial 180-day
period, but otherwise meets the continued listing requirement for
market value of publicly held shares and all other initial listing
standards for The NASDAQ Capital Market (rule 5505 - Capital
Market criteria) except for the bid price requirement, and the
Company provides NASDAQ with notice of its intention to cure the
bid price deficiency, the NASDAQ rules may permit an additional 180
calendar days to regain compliance. If the Company is not eligible
for an additional compliance period, NASDAQ will notify the Company
that its securities are subject to delisting. At that time, the
Company may appeal this determination to delist its securities to
a NASDAQ Hearings Panel.
The Company intends to monitor the bid price for its securities
between now and June 16, 2015 and
will consider all available options to resolve the deficiency and
regain compliance with the minimum bid price requirement.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing and commercializing novel treatments in
oncology, endocrinology and women's health. For more information,
visit www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor 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 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.