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Aeterna Zentaris Reports First Quarter 2010 Financial and Operating Results
Date:5/13/2010

Selling, general and administrative ("SG&A") expenses were $2.8 million for the three-month period ended March 31, 2010, compared to $3.6 million for the same period in 2009. This decrease is primarily related to lower comparative salary and benefit costs, lower legal expenses and other cost-saving measures.

Net loss was $5.9 million, or $0.09 per basic and diluted share, for the three-month period ended March 31, 2010, compared to $12.4 million, or $0.23 per basic and diluted share, for the same period in 2009. This decrease is mainly related to lower comparative net R&D costs, lower SG&A expenses and higher foreign exchange gains, partly offset by lower comparative license fee revenues and lower sales and royalty margins.

Cash and cash equivalents were $26.9 million as at March 31, 2010. This amount excludes an estimated $13.7 million of net proceeds received in connection with the registered direct offering completed on April 20, 2010.

CONFERENCE CALL

Management will be hosting a conference call for the investment community beginning at 2:30 p.m. Eastern Time today, Thursday, May 13, 2010, to discuss first quarter 2010 results. Individuals interested in participating in the live conference call by telephone may dial in Canada, 514-807-9895 or 647-427-7450, outside Canada, 888-231-8191, or may listen through the Internet at '/>"/>

SOURCE AETERNA ZENTARIS INC.
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1. Aeterna Zentaris: FDA Approves Investigational New Drug (IND) Application for Doxorubicin Targeted Conjugate Compound, AEZS-108, in Bladder Cancer
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3. AEterna Zentaris Announces Termination of Agreement with sanofi-aventis U.S. for the Development, Commercialization and Licensing of Cetrorelix in Benign Prostatic Hyperplasia
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