Navigation Links
Æterna Zentaris Receives NASDAQ Notification Related to Minimum Bid Price
Date:1/23/2010

QUEBEC CITY, Jan. 22 /PRNewswire-FirstCall/ - Æterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company"), a late-stage drug development company specialized in oncology and endocrinology, today announced that on January 21, 2010, the Company received a letter from the Listing Qualifications Department of The NASDAQ Stock Market indicating that the minimum closing bid price of its common shares had fallen below US$1.00 for 30 consecutive trading days, and therefore, Æterna Zentaris was not in compliance with NASDAQ Listing Rule 5450(a)(1) (the "Rule"). In accordance with NASDAQ Listing Rule 5810(C)(3)(a), Æterna Zentaris is provided a grace period of 180 calendar days, or until July 20, 2010, to regain compliance with this requirement. The notice has no effect on the listing of Æterna Zentaris' common shares at this time, and its common shares will continue to trade on the NASDAQ under the symbol "AEZS", as well as on the Toronto Stock Exchange under the symbol "AEZ".

Æterna Zentaris can regain compliance with the Rule if the bid price of its common shares closes at US$1.00 or higher for a minimum of ten consecutive business days during the grace period, although NASDAQ may, in its discretion, require the Company to maintain a minimum closing bid price of at least US$1.00 per share for a period in excess of ten consecutive business days before determining that Æterna Zentaris has demonstrated the ability to maintain long-term compliance.

If the Company is unsuccessful in meeting the minimum bid requirement by July 20, 2010, Nasdaq will provide notice to Æterna Zentaris that its common shares will be subject to delisting from the Nasdaq Global Market. If the Company receives a delisting notification, it may appeal to the Listing Qualifications Panel or apply to transfer its common shares to the Nasdaq Capital Market if Æterna Zentaris satisfies at such time all of the initial listing standards on the Nasdaq Capital Market, other than compliance with the minimum closing bid price requirement. If the application to the Nasdaq Capital Market is approved, then the Company will have an additional 180-day grace period in order to regain compliance with the minimum bid price requirement while listed on the Nasdaq Capital Market.

About Æterna Zentaris Inc.

Æterna Zentaris Inc. is a late-stage drug development company specialized in oncology and endocrinology. News releases and additional information are available at www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are required by a governmental authority or applicable law.

SOURCE AETERNA ZENTARIS INC.


'/>"/>
SOURCE AETERNA ZENTARIS INC.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. AEterna Zentaris completes management team with the appointment of Chief Medical Officer
2. AEterna Zentaris to Present at Upcoming UBS Global Life Sciences Conference in New York
3. AEterna Zentaris Announces Outcome of Managements Strategic Review
4. AEterna Zentaris to Further Develop Three Follow-up Multi-targeted Cytotoxic Candidates to AEZS-112 as Potential Novel Cancer Treatment
5. AEterna Zentaris Reports First Patients Treated with Anti-Cancer Compound AEZS-108 in Phase 2 Trial in Ovarian and Endometrial Cancers
6. AEterna Zentaris to Present at the Upcoming Roth Capital Partners 20th Annual OC Growth Stock Conference in Dana Point, California
7. Aeterna Zentaris to Announce Fourth Quarter and Full-Year 2007 Financial and Operating Results on March 5, 2008
8. AEterna Zentaris Announces the Departure of SVP, Administrative and Legal Affairs
9. AEterna Zentaris and Paladin Labs Announce Sale and Purchase of Miltefosine Rights
10. Aeterna Zentaris Reports Fourth Quarter and Full-Year 2007 Financial and Operating Results
11. Aeterna Zentaris Begins Second Phase 3 Trial of Cetrorelix for Benign Prostatic Hyperplasia
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... /PRNewswire/ - FACIT has announced the creation of ... company, Propellon Therapeutics Inc. ("Propellon" or "the Company"), ... portfolio of first-in-class WDR5 inhibitors for the treatment ... represent an exciting class of therapies, possessing the ... cancer patients. Substantial advances have been achieved with ...
(Date:6/23/2016)...  The Biodesign Challenge (BDC), a university competition that ... living systems and biotechnology, announced its winning teams at ... New York City . The teams, ... at MoMA,s Celeste Bartos Theater during the daylong summit. ... curator of architecture and design, and Suzanne Lee ...
(Date:6/23/2016)... LOUISVILLE, Ky. , June 23, 2016 /PRNewswire/ ... from two Phase 1 clinical trials of its ... double-blind, placebo-controlled, single and multiple ascending dose studies ... and pharmacodynamics (PD) of subcutaneous injection in healthy ... APL-2 subcutaneously (SC) either as a single dose ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... regulatory and technical consulting, provides a free webinar on Performing Quality ... 13, 2016 at 12pm CT at no charge. , Incomplete investigations are still ...
Breaking Biology Technology:
(Date:4/26/2016)... LONDON , April 26, 2016 ... EdgeVerve Systems, a product subsidiary of Infosys (NYSE: ... a partnership to integrate the Onegini mobile security ... (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ) The ... enhanced security to access and transact across channels. ...
(Date:4/15/2016)... -- A new partnership announced today will help life ... a fraction of the time it takes today, ... insurance policies to consumers without requiring inconvenient and ... rapid testing (A1C, Cotinine and HIV) and higi,s ... pulse, BMI, and activity data) available at local ...
(Date:4/13/2016)... physicians supporting Medicaid patients in Central Florida ... telehealth thanks to a new partnership with higi.   ... can routinely track key health measurements, such as blood ... they opt in, share them with IMPOWER clinicians through ... location at no cost. By leveraging this data, IMPOWER ...
Breaking Biology News(10 mins):