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Thursday, September 28, 2023

Aeterna Zentaris Inc. (AEZS) Stock gains in aftermarket trading. What’s going on?

Aeterna Zentaris Inc. (AEZS) has experienced an increase of 11.87% in the aftermarket. However, the last trading session closed at $0.75 with an incline of 25.63%.

Second Quarter 2021 Financial Results

AEZS reported second-quarter 2021 financial results on 4th August 2021. Firstly, the total revenue for the three months was $0.60 million. Secondly, licensing revenue of $0.5 million, supply chain revenue of $0.04 million, and royalty income of $0.02 million comprised the revenue for 2021. The licensing income was obtained by recognizing a portion of the delayed €5 million payment from Novo Nordisk that was received in the fourth quarter of 2020 as part of the Novo License agreement modification.

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Thirdly, the total operational expenditures for the three months were $2.7 million, up to $1.2 million from the same time in 2020. This rise was largely due to increases of $0.5 million in research and development expenditures, $0.5 million in general and administrative expenses, and $0.1 million in marketing expenses.

Development of Autoimmune and Inflammatory CNS Disorders Programs

On 7th June 2021, AEZS officially confirmed that it has hired neuroimmunologist, Michael Levy, as a scientific consultant. He will help in developing the company’s targeted, highly specific immunosuppressive therapeutic proteins for the treatment of neuromyelitis optica speculum. Dr. Levy will give Aeterna Zentaris scientific guidance and assistance in the areas of inflammatory CNS illnesses, autoimmune nervous system diseases, and NMOSD.

In January 2021, Aeterna Zentaris signed an exclusive patent licensing and research agreement with Julius-Maximilians-Universität Wuerzburg for global rights. Furthermore, it was to develop, produce, and market AIM Biologicals for the possible treatment of NMOSD. The company is now performing in-vitro and in-vivo tests to identify and define an AIM Biologicals-based development candidate.

Beginning of Preclinical Development of Macimorelin by AEZS

AEZS reported the start of the preclinical development of Macimorelin on 17th May 2021. The preclinical development effort was recently signed with The University of Queensland. Moreover, the University’s researchers will undertake preclinical investigations in disease-related in-vitro and in-vivo ALS models. Researchers from The University of Sydney have recently submitted funding applications to dedicated organizations.

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