AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced that it is expanding its promotion of APIFINY®, the only cancer-specific, non-PSA blood test available to assess the risk for the presence of prostate cancer, into the important Florida market pursuant to its exclusive promotional agreement with Armune BioScience, Inc. (“Armune”), the owner of the product. The expansion into Florida follows Armune’s receipt of a clinical laboratory license from the State of Florida.
“Our sales and marketing teams are well positioned to leverage the opportunity in the Florida market. We believe APIFINY® provides significant value in aiding clinicians to more accurately determine the optimal clinical pathway for men at risk of prostate cancer by means of its non-PSA based measurement of risk for the presence of prostate cancer. APIFINY® helps meet the needs of achieving value in today’s shifting healthcare environment that involves improving outcomes and patient experiences while lowering overall costs,” commented Jude Dinges, Chief Commercial Officer of the Company.
“We are excited to enter the Florida market with the recent approval of our laboratory license by the State of Florida,” said David Esposito, President and Chief Executive Officer of Armune. “With over 7,000 tests ordered since the launch of APIFINY®, we anticipate significant demand being generated from the Florida market. Given the current concerns of PSA testing throughout the world, APIFINY® is well positioned to offer clinicians additional information in the assessment of prostate cancer risk. In addition, we are confident that APIFINY® will help to address our healthcare system’s demand for improved outcomes at lower costs.” (Original Source)
Shares of Aeterna Zentaris are currently trading at $3.49, up $0.03 or 0.87%. AEZS has a 1-year high of $20.14 and a 1-year low of $2.60. The stock’s 50-day moving average is $3.41 and its 200-day moving average is $3.46.
On the ratings front, Aeterna Zentaris has been the subject of a number of recent research reports. In a report issued on August 1, Maxim Group analyst Jason Kolbert reiterated a Buy rating on AEZS, with a price target of $11, which represents a potential upside of 217.9% from where the stock is currently trading. Separately, on July 8, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock and has a price target of $12.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Swayampakula Ramakanth have a total average return of -14.8% and -7.4% respectively. Kolbert has a success rate of 28.3% and is ranked #4018 out of 4102 analysts, while Ramakanth has a success rate of 37.2% and is ranked #3867.
Ãterna Zentaris, Inc. operates as a specialty biopharmaceutical company that is engaged in developing and commercializing novel treatments in oncology, endocrinology and women’s health. The company’s pipeline encompasses compounds at all stages of development, from drug discovery through to marketed products. It focuses on the development of Perifosine, Cetrotide, Ozarelix, AEZS-108 and AEZS-130.