Aeterna Zentaris Announces Additional Market Purchases of Common Shares by Executive Management
January 25 2016 - 8:30AM
Business Wire
Aeterna Zentaris Inc. (NASDAQ:AEZS; TSX:AEZ) (the “Company”)
today disclosed that it was advised by certain members of its
executive management team that such executives made on-market
purchases of an aggregate of 29,535 of the Company’s Common Shares
last week at then market prices, representing a total investment by
such executives of approximately $90,000. David A. Dodd, Chairman,
President and Chief Executive Officer, purchased 16,300 Common
Shares for a total investment of approximately $50,000; Jude
Dinges, Senior Vice President and Chief Commercial Officer,
purchased 6,500 Common Shares for a total investment of
approximately $20,000; and Philip A. Theodore, Senior Vice
President, Chief Administrative Officer and General Counsel,
purchased 6,735 Common Shares for a total investment of
approximately $20,000.
Commenting on his continued confidence in the Company’s business
and prospects, Mr. Dodd, speaking in his personal capacity and not
as an officer of the Company, stated, “I am personally convinced
that our business is strong and improving. The Company has two
products in Phase 3 studies and a portfolio of three products that
it co-promotes. Aeterna Zentaris expects to complete both Phase 3
studies by the end of 2016 and, if the studies meet their primary
endpoints, to file NDAs for both products as rapidly as
practicable. The Company has sufficient cash on hand to fund
operations through the conclusion of the Phase 3 studies and
through first quarter, 2017. During the past few years, the
business has been streamlined, eliminating over 50% of headcount in
the process. I personally believe that Aeterna Zentaris is now a
highly focused and much more efficient company. I and other members
of the executive management team believed it important to
concretely demonstrate to our fellow shareholders our renewed and
continued commitment to and confidence in Aeterna Zentaris by
increasing our personal investment in and exposure to the Company’s
Common Shares. We believe that Aeterna Zentaris’ outlook is
promising and the focus is on continuing to progress on the
milestones that are intended to deliver increased value and growth
to all shareholders.”
Full details of the additional purchases made by the Company’s
officers described above as well as other acquisitions of Common
Shares made by the Company’s reporting directors and officers is
available on the SEDI (System for Electronic Disclosure by
Insiders) website of the Canadian Securities Administrators at
www.SEDI.ca.
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. We are engaged in drug
development activities and in the promotion of products for others.
We are now conducting Phase 3 studies of two internally developed
compounds. The focus of our business development efforts is the
acquisition of licenses to products that are relevant to our
therapeutic areas of focus. We also intend to license out certain
commercial rights of internally developed products to licensees in
territories where such out-licensing would enable us to ensure
development, registration and launch of our product candidates. Our
goal is to become a growth-oriented specialty biopharmaceutical
company by pursuing successful development and commercialization of
our product portfolio, achieving successful commercial presence and
growth, while consistently delivering value to our shareholders,
employees and the medical providers and patients who will benefit
from our products. For more information, visit www.aezsinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160125005417/en/
Aeterna Zentaris Inc.Philip A. Theodore, 843-900-3223Senior Vice
Presidentir@aezsinc.com
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