Aeterna Zentaris Reports Second Quarter 2018 Financial and Operating Results

Staff Report From Charleston CEO

Friday, August 10th, 2018

Aeterna Zentaris Inc., a biopharmaceutical company engaged in developing and commercializing pharmaceutical products, reported financial and operating results for the second quarter ended June 30, 2018.

All Amounts are in U.S. Dollars

Recent Key Developments

  • The Company’s U.S. and Canadian out-licensing partner, Strongbridge Biopharma plc (NASDAQ: SBBP) officially launched our product Macrilen™ (macimorelin) in the United States effective July 23, 2018. Macrilen™ is the first and only FDA-approved oral ghrelin receptor agonist to be administered in the diagnosis of patients with adult growth hormone deficiency (AGHD) in the United States.

  • The Company successfully submitted its required response to the European Medicines Agency (EMA) for the use of macimorelin for the evaluation of AGHD in July 2018.

  • The Company continues to respond to out-licensing and other commercial partners for other markets globally.

  • The Company’s financial condition remains strong with $19.9 million of cash and cash equivalents and no debt.

Commenting on recent key developments, Michael V. Ward, President and Chief Executive Officer for Aeterna Zentaris, stated, "We are very pleased with the continued progress being made by the Company in achieving our growth strategy of maximizing the global value of macimorelin. We are also very pleased with the launch of Macrilen™ in the United States."

Second Quarter Financial Highlights

  • Cash $19.9 million

  • Revenues $0.2 million

  • Research and Development Costs $1.0 million

  • General and Administrative Expenses $2.0 million

  • Net loss $2.6 million