Charleston, South Carolina / CRWEPRESSRELEASE / January 25, 2016 – Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the “Company”) today disclosed that it was advised by certain members of its executive management team that such executives made on-market purchases of an aggregate of 29,535 of the Company's Common Shares last week at then market prices, representing a total investment by such executives of approximately $90,000. David A. Dodd, Chairman, President and Chief Executive Officer, purchased 16,300 Common Shares for a total investment of approximately $50,000; Jude Dinges, Senior Vice President and Chief Commercial Officer, purchased 6,500 Common Shares for a total investment of approximately $20,000; and Philip A. Theodore, Senior Vice President, Chief Administrative Officer and General Counsel, purchased 6,735 Common Shares for a total investment of approximately $20,000.
Commenting on his continued confidence in the Company's business and prospects, Mr. Dodd, speaking in his personal capacity and not as an officer of the Company, stated, “I am personally convinced that our business is strong and improving. The Company has two products in Phase 3 studies and a portfolio of three products that it co-promotes. Aeterna Zentaris expects to complete both Phase 3 studies by the end of 2016 and, if the studies meet their primary endpoints, to file NDAs for both products as rapidly as practicable. The Company has sufficient cash on hand to fund operations through the conclusion of the Phase 3 studies and through first quarter, 2017. During the past few years, the business has been streamlined, eliminating over 50% of headcount in the process. I personally believe that Aeterna Zentaris is now a highly focused and much more efficient company. I and other members of the executive management team believed it important to concretely demonstrate to our fellow shareholders our renewed and continued commitment to and confidence in Aeterna Zentaris by increasing our personal investment in and exposure to the Company's Common Shares. We believe that Aeterna Zentaris' outlook is promising and the focus is on continuing to progress on the milestones that are intended to deliver increased value and growth to all shareholders.”
Full details of the additional purchases made by the Company's officers described above as well as other acquisitions of Common Shares made by the Company's reporting directors and officers is available on the SEDI (System for Electronic Disclosure by Insiders) website of the Canadian Securities Administrators at www.SEDI.ca.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company engaged in developing and commercializing novel treatments in oncology, endocrinology and women's health. We are engaged in drug development activities and in the promotion of products for others. We are now conducting Phase 3 studies of two internally developed compounds. The focus of our business development efforts is the acquisition of licenses to products that are relevant to our therapeutic areas of focus. We also intend to license out certain commercial rights of internally developed products to licensees in territories where such out-licensing would enable us to ensure development, registration and launch of our product candidates. Our goal is to become a growth-oriented specialty biopharmaceutical company by pursuing successful development and commercialization of our product portfolio, achieving successful commercial presence and growth, while consistently delivering value to our shareholders, employees and the medical providers and patients who will benefit from our products. For more information, visit www.aezsinc.com.
Philip A. Theodore
Senior Vice President
Source: Aeterna Zentaris Inc.