Company Update (NASDAQ:AEZS): AEterna Zentaris Inc. (USA) Announces Extension to Regain Compliance with NASDAQ’s Minimum Bid Price Rule

AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced that it has received notice from the NASDAQ Listing Qualifications Department (“NASDAQ”) determining that the Company is eligible for an additional 180 calendar day period, until December 14, 2015, to regain compliance with the minimum $1.00 per share required for continued listing under Listing Rule 5550(a)(2).  The Company’s shares continue to trade on the NASDAQ Capital Market under the symbol AEZS.

Per the notice of deficiency received on December 16, 2014, the Company had a period of 180-calendar days, or until June 16, 2015, to regain compliance with the minimum bid price requirement. Following a review, NASDAQ determined that the Company was eligible to receive an additional 180-day period on the basis that Aeterna Zentaris still met the continued listing requirement for market value of publicly held shares and all other initial listing standards for the NASDAQ Capital Market, with the exception of the minimum bid price requirement.

To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days. If compliance cannot be demonstrated by December 14, 2015, NASDAQ’s staff will provide written notification that the Company’s securities will be delisted. At that time, the Company may appeal NASDAQ staff’s determination to a Hearings Panel. (Original Source)

Shares of Aeterna Zentaris closed yesterday at $0.28 . AEZS has a 1-year high of $1.54 and a 1-year low of $0.26. The stock’s 50-day moving average is $0.37 and its 200-day moving average is $0.53.

On the ratings front, Aeterna Zentaris has been the subject of a number of recent research reports. In a report issued on June 15, Maxim Group analyst Jason Kolbert maintained a Buy rating on AEZS, with a price target of $2, which implies an upside of 614.3% from current levels. Separately, on May 21, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock and has a price target of $1.25.

According to, 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 2.6% and 12.6% respectively. Kolbert has a success rate of 41.8% and is ranked #1250 out of 3632 analysts, while Ramakanth has a success rate of 52.6% and is ranked #782.

AEterna Zentaris Inc is a specialty biopharmaceutical company engaged in developing novel treatments in oncology, endocrinologyand women’s health.

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