AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) Investor Investigation Over Potential Violations Of Securities Laws
May 30, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in NASDAQ:AEZS shares over potential securities laws violations by AEterna Zentaris Inc. (USA) in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) concerning whether certain statements about AEterna Zentaris’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
AEterna Zentaris Inc. (USA) reported that its Total Revenue fell from $63.24million in 2009 to $27.70million in 2010 and then increased to $36.05million in 2011. However, its Net Loss increased from $16.79million in 2009 to $28.45million in 2010, respectively $27.07million in 2011.
Shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) rose from as low as $0.48 per share in January 2009 to $2.83 per share in August 2009.
Then on April 2, 2012, Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) announced that the Phase 3 "X-PECT" (Xeloda® + Perifosine Evaluation in Colorectal cancer Treatment) clinical trial evaluating perifosine + capecitabine (Xeloda®) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo.
Shares of AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) fell from $2.14 on March 30, 2012 to $0.68 per share on April 3, 2012.