QUEBEC CITY, June 18, 2015 /PRNewswire/ - Aeterna Zentaris
Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announced today
that it has received notice from the NASDAQ Listing Qualifications
Department ("NASDAQ") determining that the Company is eligible for
an additional 180 calendar day period, until December 14, 2015, to regain compliance with the
minimum $1.00 per share required for
continued listing under Listing Rule 5550(a)(2). The
Company's shares continue to trade on the NASDAQ Capital Market
under the symbol AEZS.
Per the notice of deficiency received on December 16, 2014, the Company had a period of
180-calendar days, or until June 16,
2015, to regain compliance with the minimum bid price
requirement. Following a review, NASDAQ determined that the Company
was eligible to receive an additional 180-day period on the basis
that Aeterna Zentaris still met the continued listing requirement
for market value of publicly held shares and all other initial
listing standards for the NASDAQ Capital Market, with the exception
of 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. If compliance cannot
be demonstrated by December 14, 2015,
NASDAQ's staff will provide written notification that the Company's
securities will be delisted. At that time, the Company may appeal
NASDAQ staff's determination to a Hearings Panel.
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 and clinical trials, 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, the ability to protect our intellectual property, the
potential of liability arising from shareholder lawsuits 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 place undue reliance 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.