Aeterna Zentaris Regains Compliance With Nasdaq Minimum Bid Price Requirement for Continued Listing
January 27 2020 - 8:35AM
Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (“Aeterna” or the
“Company”), a specialty biopharmaceutical company engaged in
commercializing novel pharmaceutical therapies, today announced
that it has received notice from The Nasdaq Stock Market LLC
(“Nasdaq”) that the Company has regained compliance with Nasdaq’s
minimum bid price for continued listing on the Nasdaq Capital
Market set forth in Nasdaq Listing Rule 5550(a)(2) (“Bid Price
Rule”).
On January 23, 2020, Aeterna received a letter
from Nasdaq stating that because the Company’s shares had a closing
bid price at $1.00 per share or greater for a minimum of ten (10)
consecutive business days, Aeterna’s stock has regained compliance
with the Bid Price Rule. Nasdaq considers the matter closed.
About Aeterna Zentaris Inc.
Aeterna Zentaris Inc. is a specialty
biopharmaceutical company engaged in commercializing novel
pharmaceutical therapies, principally through out-licensing
arrangements. Aeterna Zentaris is the licensor and party to a
license and assignment agreement with Novo Nordisk A/S to carry out
joint development, manufacturing, registration, regulatory, and
supply chain for the commercialization of Macrilen™ (macimorelin),
which is to be used in the diagnosis of patients with adult growth
hormone deficiency in the United States and Canada. The clinical
development of Macrilen™ (macimorelin) for pediatric use is
ongoing. In addition, we are actively pursuing business development
opportunities for macimorelin in the rest of the world and to
monetize the value of our non-strategic assets. For more
information, please visit the Company’s website at
www.zentaris.com.
Forward Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 and Private Securities Litigation Reform Act, as
amended, including those relating to the Company's product
development, clinical and regulatory timelines, market opportunity,
competitive position, possible or assumed future results of
operations, business strategies, potential growth opportunities and
other statement that are predictive in nature. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which we operate and management's current beliefs and
assumptions.
These statements may be identified by the use of
forward-looking expressions, including, but not limited to,
"expect," "anticipate," "intend," "plan," "believe," "estimate,"
"potential", "predict," "project," "should," "would" and similar
expressions and the negatives of those terms. These statements
relate to future events or our financial performance and involve
known and unknown risks, uncertainties, and other factors which may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include those set forth in the Company's filings with the
Securities and Exchange Commission. Prospective investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Investor and Media Contact:
Jenene Thomas JTC Team T (US): +1 (833) 475-8247 E:
aezs@jtcir.com
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