Aeterna Zentaris Regains Compliance with Nasdaq Minimum Bid Price Requirement
March 22 2021 - 4:05PM
Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (“Aeterna” or the
“Company”), a specialty biopharmaceutical company commercializing
and developing therapeutics and diagnostic tests, today announced
that on March 22, 2021, it received notice from The Nasdaq Stock
Market LLC ("Nasdaq") that the Company has regained compliance with
the minimum $1.00 bid price per share requirement under Nasdaq’s
Listing Rule 5550(a)(2).
On July 29, 2020, the Company received notice
from Nasdaq that its common stock failed to maintain a minimum bid
price of $1.00 over the previous 30 consecutive business days as
required by Nasdaq. On January 26, 2021, the Company was granted an
additional 180 calendar day period to regain compliance with the
minimum bid price requirement set forth in Nasdaq Listing Rules for
continued listing on the Nasdaq Capital Market.
Now that the Company has regained compliance
with Listing Rule 5550(a)(2), Nasdaq has advised the Company that
this matter is now closed.
About Aeterna Zentaris Inc.
Aeterna Zentaris Inc. is a specialty
biopharmaceutical company commercializing and developing
therapeutics and diagnostic tests. The Company’s lead product,
macimorelin, is the first and only U.S. FDA and European Commission
approved oral test indicated for the diagnosis of adult growth
hormone deficiency (AGHD). Macimorelin is currently marketed in the
United States under the tradename Macrilen™ through a license
agreement with Novo Nordisk where Aeterna receives royalties on net
sales. According to a commercialization and supply agreement,
MegaPharm Ltd. will seek regulatory approval and then commercialize
macimorelin in Israel and the Palestinian Authority. Additionally,
upon receipt of pricing and reimbursement approvals, Aeterna
expects that macimorelin will be marketed in Europe and the United
Kingdom through a recently established license agreement with
Consilient Health Ltd. and Aeterna will receive royalties on net
sales and other potential payments.
Aeterna is also leveraging the clinical success
and compelling safety profile of macimorelin to develop it for the
diagnosis of childhood-onset growth hormone deficiency (CGHD), an
area of significant unmet need.
Aeterna is actively pursuing business
development opportunities for the commercialization of macimorelin
in Asia and the rest of the world, in addition to other
non-strategic assets to monetize their value. For more information,
please visit www.zentaris.com and connect with the Company on
Twitter, LinkedIn and Facebook.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined by applicable securities legislation) made
pursuant to the safe-harbor provision of the U.S. Securities
Litigation Reform Act of 1995, which reflect our current
expectations regarding future events. Forward-looking statements in
this press release include Aeterna’s expectation that, upon receipt
of pricing and reimbursement approvals, macimorelin will be
marketed in Europe and the United Kingdom. Forward-looking
statements involve known and unknown risks and uncertainties, and
other factors which may cause the actual results, performance or
achievements stated herein to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking information. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks, including, without limitation, our ability to
obtain receipt of pricing and reimbursement approvals as well as
those risks discussed in our Annual Report on Form 20-F, under the
caption "Key Information Risk Factors" filed with the relevant
Canadian securities regulatory authorities in lieu of an annual
information form and with the U.S. Securities and Exchange
Commission. Given the uncertainties and risk factors, readers are
cautioned not to place undue reliance on these forward-looking
statements. We disclaim any obligation to update any such factors
or to publicly announce 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 applicable law.
Investor Contact: Jenene Thomas JTC Team T
(US): +1 (833) 475-8247 E: aezs@jtcir.com
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