Earnings Briefing and Notes - Aeterna Zentaris
LONDON, April 14, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings notes on Aeterna Zentaris Inc. (NASDAQ: AEZS). On March 17, 2015, the company announced its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS to read our free earnings review on Aeterna Zentaris Inc. (Aeterna Zentaris). Chief Financial Officer at Aeterna Zentaris, Dennis Turpin, said that with cash and cash equivalents position of $34.93 million as at December 31, 2014, the company's controlled burn rate and the completion of its recent public offering, which resulted in net proceeds of approximately $34.5 million, Aeterna Zentaris has a solid financial position upon which it can advance its strategic initiatives. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS
Earnings Overview
During Q4 FY14, Aeterna Zentaris' research and development (R&D) costs, net of refundable tax credits and grants, were $6.28 million compared to $5.35 million in Q4 FY13. The company's selling, general and administrative (SG&A) expenses for Q4 FY14 were $4.68 million compared to $2.63 million in Q4 FY13. Further, Aeterna Zentaris' net finance income was $15.05 million in Q4 FY14 compared to net finance costs of $2.62 million in Q4 FY13. The company also reported revenues of $11,000 in Q4 FY14.
Chairman and CEO of Aeterna Zentaris, David Dodd, stated that during FY14 the company achieved significant progress in the implementation of its strategy of transitioning into a commercially operating specialty biopharmaceutical company, as Aeterna Zentaris put its commercial structure in place, built a full-time contract sales force of 19 representatives, signed a co-promotion agreement with ASCEND and started selling its product EstroGel® in its specific territories in the U.S. Free research on AEZS can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS
For Q4 FY14, Aeterna Zentaris' net income was $4.15 million, or $0.06 per diluted share, compared to net loss of $8.24 million, or $0.22 loss per diluted share, in Q4 FY13. Analysts from Bloomberg had expected the company to report net loss of $7.75 million, or $0.13 loss per share, in Q4 FY14.
In FY14, Aeterna Zentaris' R&D costs, net of refundable tax credits and grants, came in at $23.72 million compared to $21.28 million in FY13. The company's SG&A expenses for FY14 stood at $13.69 million compared to $12.32 million in FY13. Furthermore, Aeterna Zentaris' net finance income for FY14 was $20.32 million compared to $236,000 in FY13. Additionally, the company reported revenues of $11,000 in full-year FY14.
During FY14, Aeterna Zentaris reported net loss of $16.56 million, or $0.28 loss per diluted share, compared to net income of $6.82 million, or $0.24 per diluted share, in FY13. Analysts from Bloomberg had expected the company to report net loss of $32.10 million, or $0.53 loss per share, in FY14. Sign up and read the free analyst's notes on AEZS at:
http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS
On January 14, 2014, the company completed its public offering of 11.0 million units, generating net proceeds of approximately $12.2 million, with each unit consisting of one common share and 0.80 of a warrant to purchase one common share, at a purchase price of $1.20 per unit. Furthermore, on March 11, 2015, the company completed a public offering of 59,677,420 units, and from the net proceeds of approximately $34.5 million, Aeterna Zentaris paid approximately $5.7 million to the holders of approximately 21.1 million outstanding warrants issued by the company in previous public offerings as consideration for its agreement to immediately terminate the warrants.
Between July 01, 2014 and December 31, 2014, Aeterna Zentaris issued a total of approximately 9 million common shares under its At-the-Market (ATM) sales agreement entered into May 2014 with MLV & Co. LLC, at an average price of $1.36 for aggregate gross proceeds of approximately $12.2 million, less cash and non-cash transaction costs of approximately $0.4 million.
Mr. Dodd asserted that the company remains fully focused on becoming a growth-oriented, commercially operating specialty biopharmaceutical organization for FY15, while continuing to develop key late-stage product candidates in its existing pipeline, such as its novel targeted anti-cancer agent, zoptarelin doxorubicin.Visit Investor-Edge and access the latest research on AEZS at:
http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS
Stock Performance
On the day following the earnings release, March 18, 2015, Aeterna Zentaris' stock surged 3.92% to end the session at $0.55. Since then, the stock has witnessed a mixed momentum. On the last close, Monday, April 13, 2015, shares of the company finished at $0.54, which is 4.54% above the previous day's closing of $0.52. Aeterna Zentaris' stock vacillated between $0.54 and $0.57 during the session. A total of 2.73 million shares were traded which was above their three months average volume of 1.66 million shares. Over the previous three trading sessions and the last one month, the company's shares have gained 2.38% and 5.59%, respectively. However, the stock has lost 7.95% in the past three months. Shares in Aeterna closed below their 50-day and 200-day moving averages of $0.57 and $0.90, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 42.07.
Sneak Peek to Corporate Insider Trading
In the last one month, Aeterna Zentaris has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on AEZS is available at:
http://get.Investor-Edge.com/pdf/?c=Aeterna%20Zentaris&d=14-Apr-2015&s=AEZS
About Investor-Edge.com
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Investor-Edge
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article