Stock Update (NASDAQ:AEZS): AEterna Zentaris Inc. (USA) Announces Expiration of Remaining Series B Warrants
AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced that the remaining 8,064 Series B Common Share Purchase Warrants (the “Series B Warrants”) issued in connection with the Company’s March 2015 financing expired on September 12, 2016 without being exercised. The Company had 9,939,863 Common Shares issued and outstanding as of the close of business on September 13, 2016.
David A. Dodd, President and Chief Executive Officer of the Company, explained, “All Series B Warrants issued in connection with our March 2015 financing have now been extinguished. Therefore, there will be no further dilution of our shareholders as a result of the Series B Warrants. I am pleased that we can report that the repair of our capital structure is now complete. We are looking forward to the impending completion of the pivotal, Phase III trials for Macrilen™ and Zoptrex™ and to the submission of NDAs for the products, if the results of the trials warrant doing so.” (Original Source)
Shares of Aeterna Zentaris closed yesterday at $3.43, down $0.17 or -4.72%. AEZS has a 1-year high of $15.70 and a 1-year low of $2.60. The stock’s 50-day moving average is $3.56 and its 200-day moving average is $3.56.
On the ratings front, AEZS stock has been the subject of a number of recent research reports. In a report issued on August 22, Canaccord analyst Neil Maruoka reiterated a Buy rating on AEZS, with a price target of $9.00, which implies an upside of 162% from current levels. Separately, on August 11, H.C. Wainwright’s Swayampakula Ramakanth reiterated a Buy rating on the stock.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Neil Maruoka and Swayampakula Ramakanth have a total average return of -39.9% and -10.0% respectively. Maruoka has a success rate of 13% and is ranked #4052 out of 4163 analysts, while Ramakanth has a success rate of 34% and is ranked #3977.
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.