Business
Aeterna Zentaris Reports Second Quarter 2014 Financial and Operating Results
All amounts are in US dollars QUEBEC CITY , Aug. 7, 2014 /CNW Telbec/ - Aeterna Ze...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"\n\n\nAll amounts are in US dollars\n\n\nQUEBEC CITY, Aug. 7, 2014 /CNW Telbec/ - Aeterna Zentaris Inc.\n (NASDAQ: AEZS) (TSX: AEZ) (the \"Company\"), a specialty\n biopharmaceutical company engaged in developing and commercializing\n novel treatments in oncology and endocrinology, today reported\n financial and operating results as at and for the second quarter ended\n June 30, 2014.\n\n\nResearch and development (\"R&D\") costs, net of refundable tax credits\n and grants, for the three-month period ended June 30, 2014 were $5.5 million\n compared to $5.3 million for the same period in 2013.\n\n\nSelling, general and administrative (\"SG&A\") expenses were $2.9 million for the three-month period ended June 30, 2014,\n compared to $4.4 million for the same period in 2013. The decrease in\n SG&A expenses is mainly related to the recognition in the second\n quarter of 2013 of non-recurring termination benefits (approximately\n $1.4 million) and to the recording of related non-cash share-based\n compensation costs, amounting to approximately $0.7 million.\n\n\nNet loss for the three-month period ended June 30, 2014 was $5.0 million compared\n to a net income of $9.3 million for the same period in 2013. The\n decrease in net income is due largely to lower net income from\n discontinued operations related to the Company's former Cetrotide® business, partially offset by lower comparative operating expenses and\n by higher comparative net finance income.\n\n\nCash and cash equivalents totaled $39.6 million as at June 30, 2014, compared to $43.2 million as\n at December 31, 2013.\n\n\nDavid Dodd, Chairman and CEO of Aeterna Zentaris, commented, \"During the\n quarter, our main focus was on refining our launch and\n commercialization plan for Macrilen™ in the U.S., and on patient\n recruitment for our ongoing ZoptEC Phase 3 trial in endometrial cancer\n with zoptarelin doxorubicin. For Macrilen™, we continued our focus on\n issues such as cost of goods, manufacturing, packaging, distribution\n and reimbursement, while building our core business team based in\n Charleston, South Carolina. The NDA for Macrilen™ continues to be under\n review, with a PDUFA date of November 5 of this year, and we have been\n in continued discussions with the FDA; if approved, Macrilen™ would\n become the firs...