AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) Raises $12.2M From Public Offering

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Dallas, Texas 01/31/2014 (FINANCIALSTRENDS) – $59.12 million market capped drug firm AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced earlier this month the successful raising of close to $13.2 million funds through its previously announced  public Offer of Common Shares and Warrants.

In an announcement dated 14th January, AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) announced that it had formally closed the public offer window after managing to sell close to 11 million units of its offering. Each unit consisted of one common share and 0.8 part of a warrant and was priced at $1.2 per unit. The warrant had a time span of 5 years in which it can be exercised for a selling price of $1.25. Through this exercise the development staged drug maker was able to raise close to $12.2 million as proceeds. AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) has appointed Canaccord Genuity as its book-running managers, and had brought in the consortium of “ Maxim Group LLC, H. C. Wainwright & Co., LLC and MLV & Co LLC” as co managers to facilitate this offering.

AEterna Zentaris Inc. (USA) (NASDAQ:AEZS), at the time of the launch of this public offering had indicated that it would be using these proceeds to continue its new drug development activities including the advancement of its lead drug compounds “zoptarelin doxorubicin and   macimorelin acetate. Part of the proceeds would also be used for “general corporate purposes and working capital” as per the company’s statement.

Since the time of this update 15 days back, the stock of  AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) has posted a steady 5.6 percent at the markets and is currently trading at $1.31 per share, which is 32 percent above its 52 week low price point and 61.2 percent below its 52 week high price point. The drug maker has also attracted an rating upgrade to Buy from previous hold by rating firm MLV & Co in the first week of January this year.

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