Business
Aeterna Zentaris Implements Global Resources Optimization Program as Part of its Transition into a Commercially Operating Specialty Biopharmaceutical Company
QUÉBEC CITY, June 10, 2014 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX:&...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\nQUÉBEC CITY, June 10, 2014 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the \"Company\") today announced the roll-out of a global resources optimization program as the Company pursues its strategy of transitioning into a commercially operating specialty biopharmaceutical company. Initiated earlier this year, the program's goal is to streamline R&D activities and increase commercial operations and flexibility. With the implementation of the global resources optimization program, the Company expects to have approximately 65 employees by year-end, as compared to 90 employees at the beginning of 2014. Due to the nature of certain proceedings, the Company intends to provide an estimate of the anticipated global restructuring charges and future cost savings as and when the financial and accounting implications of the global resources optimization program become better defined.\n\nDavid Dodd, Chairman, CEO of Aeterna Zentaris commented, \"These difficult but prudent and necessary decisions ensue from our recent in-depth review of all of the Company's activities, mainly of our drug discovery activities in order to streamline our operations, optimize our resources and R&D productivity, reduce our operating cash burn and more appropriately, align our financial resources with our strategic goal of transitioning into a commercially operating specialty biopharmaceutical company. Through this global resources optimization program, we expect to become more efficient and better focused on the potential launch of MACRILENTM for the evaluation of adult growth hormone deficiency, on the required patient recruitment to secure a first interim analysis for our current Phase 3 ZoptEC trial in endometrial cancer, as well as on the future development of some of our promising Erk inhibitor compounds. As for commercial activities, we have started building our core business team based at our new global commercial hub in Charleston, South Carolina, thus increasing efforts on potential in-licensing, acquisition and co-promotion agreements for revenue-generating marketed products.\"\n\nAbout Aeterna Zentaris Inc.\n\nAeterna Zentaris is a specialty biopharmaceutical company engaged in developing novel treatments in oncology and endocrinology. The Company's pipeline encompasses compounds at various stages of de...