Aeterna Zentaris, Inc. Stock Price, News & Analysis

Aeterna Zentaris (NASDAQ: AEZS) (TSX: AEZS) held its virtual 2024 Annual General and Special Meeting of Shareholders on July 16, 2024. The company announced voting results for director elections, with six out of seven nominees receiving majority votes. Dennis Turpin, despite not receiving a majority, will continue on the board for 90 days or until a successor is appointed. Peter G. Edwards resigned prior to the meeting. Shareholders approved the appointment of Deloitte LLP as auditor and the Name Change Resolution. The company will be renamed COSCIENS Biopharma Inc. in the coming weeks. Aeterna Zentaris also utilized an exemption as an Eligible Interlisted Issuer, avoiding certain Canadian requirements for its long-term incentive plan approval.

Aeterna Zentaris (NASDAQ: AEZS) has announced the clinical completion of its Phase 3 DETECT-trial, which investigates the efficacy and safety of macimorelin for diagnosing Childhood Onset Growth Hormone Deficiency (CGHD). The trial, which involved 100 pediatric patients in Europe and North America, concluded with the last patient visit on June 13, 2024. The company plans to release top-line data and full study results in Q3 2024. Gilles Gagnon, the CEO, emphasized that the successful completion of this trial marks a significant milestone, potentially expanding the use of macimorelin as a diagnostic tool in pediatric endocrinology.

Aeterna Zentaris (NASDAQ: AEZS, TSX: AEZS) and Ceapro (TSX-V: CZO, OTCQX: CRPOF) have completed their all-stock merger announced in December 2023. The new entity, yet to be named, aims to leverage diversified product pipelines, combining financial and operational resources for enhanced R&D capabilities. The merger will drive development in areas like oat beta glucan and avenanthramides, while macimorelin revenues will support high-potential products. Post-merger, Aeterna's board includes eight directors. Ceapro shares will be delisted from the TSX Venture Exchange, and Ceapro shareholders will receive 0.02360 Aeterna shares per Ceapro share. Ceapro aims to cease being a reporting issuer under Canadian laws.

Aeterna Zentaris (NASDAQ: AEZS) announced an application to extend the deadline for its annual meeting of shareholders to July 31, 2024. The hearing is scheduled for June 3, 2024, before the Ontario Superior Court of Justice. The extension aims to finalize a transaction with Ceapro, allowing former Ceapro shareholders to vote at the meeting. The meeting will cover votes on the new company name and director nominees. The Toronto Stock Exchange has approved this extension. Additionally, the redemption date for due bills related to a prior warrant issuance is set for June 3, 2024.

Aeterna Zentaris has finalized details of its merger with Ceapro. On May 3, 2024, Aeterna completed a 1-for-4 reverse stock split. Ceapro shareholders will receive 0.02360 of a post-split Aeterna share for each Ceapro share held. Aeterna shareholders on record by May 29, 2024, will get 0.47698 of a warrant per share on May 31, 2024. These shares will trade with a due bill from May 29 to May 31, 2024, ensuring buyers receive warrants. Ex-distribution trading starts on June 3, 2024. The due bill redemption is on June 4, 2024. Shareholders need to take no action to receive warrants, which will be managed electronically. The merger is expected to close on or about June 3, 2024.

Aeterna Zentaris (NASDAQ: AEZS) reported its Q1 2024 financial results, highlighting a cash position of $29.5 million as of March 31, 2024. The company reported a net loss of $5.8 million, compared to a $4.3 million loss in Q1 2023. This increased loss is attributed to a $2.1 million revenue drop and a $1.2 million rise in selling, general, and administrative expenses, mostly due to merger-related costs. The company successfully completed recruitment for its DETECT-trial, with results expected in Q3 2024. The merger with Ceapro Inc. is anticipated to close in Q2 2024.

Aeterna Zentaris Inc. announces the effective date of the share consolidation, reducing the number of common shares by merging with Ceapro Inc. The consolidation will result in one post-consolidation common share for every four pre-consolidation common shares. The company's transfer agent will provide instructions for shareholders on trading post-consolidation common shares on the TSX and Nasdaq Capital Market on May 3, 2024.