Aeterna Zentaris (NASDAQ: AEZS) announced it has regained compliance with Nasdaq's minimum bid price requirement, achieving a closing bid price of $1.00 or greater for 10 consecutive trading days. Earlier, on April 8, 2020, the company received a notification for failing to maintain this price for 30 consecutive business days. With this compliance regained, Nasdaq has closed the matter. Aeterna Zentaris primarily focuses on developing therapeutics and diagnostic tests, including its lead product Macrilen™, approved for diagnosing adult growth hormone deficiency.
Aeterna Zentaris Inc. (NASDAQ: AEZS) held its Annual General Meeting on May 15, 2020, where several directors were elected. Pierre-Yves Desbiens, Peter Edwards, Carolyn Egbert, Gilles Gagnon, and Klaus Paulini were confirmed as directors, with voting percentages ranging from 79.07% to 81.15%. Additionally, PricewaterhouseCoopers LLP was re-appointed as the independent auditor. Aeterna expressed gratitude to outgoing board members Gérard Limoges, Dr. Brent Norton, and Robin Smith Hoke. The meeting highlights Aeterna's ongoing governance and strategic direction in the biopharmaceutical sector.
Aeterna Zentaris reported significant advancements in its clinical program for macimorelin, particularly for diagnosing child-onset growth hormone deficiency (CGHD), following positive results from Study P01.
The European Medicines Agency accepted the modification request for the pediatric investigation plan, allowing a unified study protocol for further trials.
Financially, Aeterna achieved net income of $0.8 million for Q1 2020, a turnaround from a $4.9 million loss in Q1 2019, driven by increased revenue from product sales to Novo Nordisk and a fair value gain on warrant liability.