Just a year ago, shares of Aeterne Zentaris were trading at $52.50. Today the stock is under $5.
Not surprising when the company just reported a loss of $3.7 million in its first quarter. The Montreal-based company reported that it had a loss of 37 cents on a per-share basis and a revenue of $242,000 in the period.
Earlier this week, the specialty biopharmaceutical company, which engages in developing and commercializing novel treatments in oncology, endocrinology and women’s health, announced the separation of the positions of Chairman of the Board and President and Chief Executive Officer.
Ms. Carolyn Egbert has been elected Chair of the Board, a non-executive position, by the Company’s Board of Directors, and the position of Lead Director was eliminated.
David A. Dodd, who has served as Chairman, President and Chief Executive Officer since 2014, will continue to serve as President and Chief Executive Officer of the Company and as a director.
Mr. Juergen Ernst, the former Lead Director, will remain as a director of the Company.
Disclaimer: We have no position in Aeterne Zentaris (NASDAQ: AEZS) and have not been compensated for this article.