QUEBEC CITY, Nov. 12, 2015 /PRNewswire/ - Aeterna Zentaris
Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announced today
that 1,906,451 Series B Common Share Purchase Warrants (the "Series
B Warrants") remained outstanding and that there were approximately
632.7 million Common Shares issued and outstanding at the close of
business on November 11,
2015.
David A. Dodd, Chairman,
President and Chief Executive Officer of the Company explained,
"The holders of Series B Warrants who agreed on November 1, 2015 to exercise all of the
approximately 4.1 million Series B Warrants then held by them have
now exercised 2,270,638 of such Series B Warrants. There
remain outstanding 1.1 million Series B Warrants held by one of the
holders who is a party to the November
1 agreement and 806,451 Series B Warrants held by a holder
who did not become a party to the November
1 agreement. At the conversion ratio specified in the
November 1 agreement the 1.1 million
Series B Warrants held by the participating warrantholder will,
upon their exercise, result in the issuance of approximately 36.5
million additional common shares. By extinguishing these
Series B Warrants and with our upcoming share consolidation, we
anticipate an improved capital structure that will provide the
necessary basis to successfully build shareholder value as we
proceed toward the completion of our pivotal, phase 3 program for
Zoptrex™, which recently received the DSMB recommendation to
proceed to completion, as well as the completion of the
confirmatory trial for Macrilen™ and, our anticipated continued
increase in revenue contribution from our current and anticipated
additional commercial activities."
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. The statements in the press
release regarding the progress we are making toward the creation of
shareholder value and the anticipated continued increase in revenue
contribution from our current and anticipated additional commercial
activities are forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties that
could cause actual events to differ materially from those in the
forward-looking statements. Such risks and uncertainties
include, among others, those set forth in our quarterly and annual
filings with the Canadian and US securities commissions.
Investors should consult such filings 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.