QUÉBEC CITY, Oct. 22, 2012 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:
AEZS) (TSX: AEZ) (the "Company") today announced that on October 19,2012, NASDAQ notified the Company that it has regained compliance with
Rule 5450(a)(1), which requires a minimum bid price of $1.00 for
continued listing on the NASDAQ Global Market.
Commenting on the announcement, Juergen Engel, Ph.D., President and
Chief Executive Officer, stated: "We are pleased that we have been able
to regain compliance with NASDAQ's minimum bid price rule, which is
important in maintaining liquidity in the trading of our common shares.
We will continue to pursue our objective of maximizing shareholder
value with a goal of becoming a specialty oncology and endocrinology
company developing drugs for indications with various unmet medical
needs."
About Aeterna Zentaris
Aeterna Zentaris is an oncology and endocrinology drug development
company currently investigating treatments for various unmet medical
needs. The Company's pipeline encompasses compounds at all stages of
development, from drug discovery through to marketed products. For more
information please visit www.aezsinc.com.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to
the safe harbour provisions of the U.S. Securities Litigation Reform
Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties that could cause the Company's actual results to
differ materially from those in the forward-looking statements. For
example, because the market price of the Company's Common Shares will
also be based on the Company's financial and operational results, its
financial position, including its capital availabilities and liquidity
resources, the development of its product pipeline, market conditions,
the market perception of its business and other factors, which are
unrelated to the number of shares outstanding, there can be no
assurance that the market price of the Common Shares will in fact
increase following the Consolidation or will not decrease in the
future, or that the minimum closing bid price of the Common Shares will
meet NASDAQ's minimum bid price requirement. Further, there can be no
assurance that the Consolidation alone will guarantee the continued
listing of the Common Shares on The NASDAQ Global Market or that the
Common Shares will not be delisted due to a failure to meet other
NASDAQ continued listing requirements. Other such risks and
uncertainties include, among others, the availability of funds and
resources to pursue R&D projects, the successful and timely completion
of clinical studies, the risk that safety and efficacy data from any of
our Phase 3 trials may not coincide with the data analyses from
previously reported Phase 1 and/or Phase 2 clinical trials, the ability
of the Company to take advantage of business opportunities in the
pharmaceutical industry, uncertainties related to the regulatory
process and general changes in economic conditions. Investors should
consult the Company's quarterly and annual filings with the Canadian
and U.S. securities commissions for additional information on risks and
uncertainties relating to forward-looking statements. Investors are
cautioned not to rely 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.