INVESTOR ALERT: Investors of Aeterna Zentaris Inc. With Losses of $100,000 or More Are Encouraged to Contact Law Offices of H...
January 06 2015 - 3:38PM
Business Wire
Law Offices of Howard G. Smith reminds investors that purchasers
of the securities of Aeterna Zentaris Inc. (“Aeterna” or the
“Company”) (NASDAQ:AEZS) between October 18, 2012 and November 5,
2014, inclusive (the “Class Period”), have until January 12, 2015,
to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit. Investors who have losses of $100,000 or more
are encouraged to contact the firm for more information.
Aeterna is a specialty biopharmaceutical company engaged in the
development and commercialization of novel treatments in oncology
and endocrinology. The Company is developing macimorelin − an
orally active small molecule that stimulates the secretion of
growth hormone − as a treatment for Adult Growth Hormone
Deficiency. The Complaint alleges that defendants misrepresented or
failed to disclose that: (1) the planned analysis of macimorelin’s
pivotal clinical trial failed to meet its primary efficacy endpoint
pursuant to the Special Protocol Assessment agreement letter
between the Company and the FDA; (2) insufficient data existed to
confirm that the patients in the clinical trial were accurately
diagnosed with Adult Growth Hormone Deficiency; (3) a serious
cardiac event could have been attributed to macimorelin; (4) as a
result, the FDA would not approve the New Drug Application for
macimorelin in its present form; and (5), the Company’s statements
about its business, operations and prospects, including statements
about macimorelin’s prospects for FDA approval, were materially
false and misleading and/or lacked a reasonable basis.
On November 6, 2014, the Company revealed that the FDA
determined that the New Drug Application for macimorelin could not
be approved in its present form. The FDA concluded that the planned
analysis of the Company’s pivotal trial did not meet its stated
primary efficacy objective, and “in light of the failed primary
analysis and data deficiencies noted, the clinical trial does not
by itself support the indication.” In addition, the FDA noted that
a serious event of electrocardiogram QT interval prolongation
occurred for which attribution to the drug could not be excluded,
and a dedicated QT interval study would be necessary. Following
this news, Aeterna shares declined nearly 50%, or $0.64 per share,
to close on November 6, 2014, at $0.65 per share, on unusually
heavy volume.
If you are a member of the Class described above, you may move
the Court no later than January 12, 2015, to serve as lead
plaintiff, if you meet certain legal requirements. To be a member
of the Class, you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an
absent member of the Class. If you suffered losses of $100,000 or
more and wish to learn more about this action, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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