Company Website:
http://www.glancylaw.com
LOS ANGELES -- (Business Wire)
Glancy
Binkow & Goldberg LLP, representing investors of Aeterna
Zentaris Inc. (“Aeterna” or the “Company”) (NASDAQ:AEZS), has filed
a class action lawsuit in the United States District Court for the
District of New Jersey on behalf of a class (the “Class”) comprising
purchasers of Aeterna securities between October 18, 2012 and November
5, 2014, inclusive (the “Class Period”).
Please contact Lesley
Portnoy or Casey
Sadler at (310) 201-9150, or at shareholders@glancylaw.com
to discuss this matter. If you inquire by email, please include your
mailing address, telephone number and number of shares purchased.
Aeterna is a specialty biopharmaceutical company engaged in the
development and commercialization of novel treatments in oncology and
endocrinology. The Company is developing macimorelin − an orally active
small molecule that stimulates the secretion of growth hormone − as a
treatment for Adult Growth Hormone Deficiency. The Complaint
alleges that defendants made false and/or misleading statements and
failed to disclose material adverse facts about the Company’s business,
operations and prospects. Specifically, defendants misrepresented or
failed to disclose that: (1) the planned analysis of macimorelin’s
pivotal clinical trial failed to meet its primary efficacy endpoint
pursuant to the Special Protocol Assessment agreement letter between the
Company and the FDA; (2) insufficient data existed to confirm that the
patients in the clinical trial were accurately diagnosed with Adult
Growth Hormone Deficiency; (3) a serious cardiac event could have been
attributed to macimorelin; (4) as a result, the FDA would not approve
the New Drug Application for macimorelin in its present form; and (5),
the Company’s statements about its business, operations and prospects,
including statements about macimorelin’s prospects for FDA approval,
were materially false and misleading and/or lacked a reasonable basis.
On November 6, 2014, the Company revealed that the FDA determined that
the New Drug Application for macimorelin could not be approved in its
present form. The FDA concluded that the planned analysis of the
Company’s pivotal trial did not meet its stated primary efficacy
objective, and “in light of the failed primary analysis and data
deficiencies noted, the clinical trial does not by itself support the
indication.” In addition, the FDA noted that a serious event of
electrocardiogram QT interval prolongation occurred for which
attribution to the drug could not be excluded, and a dedicated QT
interval study would be necessary. Following this news, Aeterna shares
declined nearly 50%, or $0.64 per share, to close on November 6, 2014,
at $0.65 per share, on unusually heavy volume.
If you are a member of the Class described above, you may move the Court
no later than January 12, 2015, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Lesley
Portnoy, Esquire, or Casey
Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by
e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
If you inquire by email, please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts:
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Lesley Portnoy
Casey
Sadler
310-201-9150
888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
Source: Glancy Binkow & Goldberg LLP
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