AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced that it has granted to German life sciences entrepreneurs with a proven track-record of funding the development and commercialization of biotechnology (collectively, the “Optionee”), an option to license the Company’s live recombinant oral allogenic tumor vaccine technology (the “Technology”), including AEZS-120, the most advanced product candidate for prostate cancer which is ready to enter a Phase 1 clinical trial. This option is granted to the Optionee worldwide, for a period of twelve months, in exchange for an upfront fee.
Pursuant to the option agreement, the Optionee has the right to obtain a worldwide exclusive license to develop, use and sell products relating to the Technology and AEZS-120, in exchange for milestone payments and royalties on net sales of any product developed from the Technology and an equity interest in the company formed to develop the Technology. At the present time, Aeterna Zentaris holds worldwide rights to the Technology, including AEZS-120.
David A. Dodd, Chairman and CEO of Aeterna Zentaris, commented, “This agreement is part of our strategy of leveraging some of our promising early-stage drug candidates in order to generate potential long-term value without having to invest in their development. Our live recombinant oral allogenic cancer vaccine is a novel approach to treating cancer and could prove to be a beneficial option for the millions of people suffering from different types of cancer.” (Original Source)
Shares of Aeterna Zentaris closed yesterday at $0.1883. AEZS has a 1-year high of $1.54 and a 1-year low of $0.19. The stock’s 50-day moving average is $0.26 and its 200-day moving average is $0.46.
On the ratings front, Aeterna Zentaris has been the subject of a number of recent research reports. In a report released yesterday, Maxim Group analyst Jason Kolbert maintained a Buy rating on AEZS, with a price target of $2, which implies an upside of 962.1% 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 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 -4.7% and 17.6% respectively. Kolbert has a success rate of 33.3% and is ranked #3644 out of 3717 analysts, while Ramakanth has a success rate of 44.4% and is ranked #477.
AEterna Zentaris Inc is a specialty biopharmaceutical company engaged in developing novel treatments in oncology, endocrinologyand women’s health.