The company has sufficient cash until February2017
Btw final phase 3 results for ZopTec in endometrial cancer will be released by the end of 2016.
From the conference call last August:
'Finally, I’d like to address our current financial position in the recent pressure on our stock price. During the first quarter of this year, we made the decision to raise a significant amount of capital to support us through the next 18 months of the implementation of our strategy.'
Also: restructuring so more financial power, and closing of the Quebec office, so AEZS is now officially a US based company with an extra office in Germany:
David A. Dodd, Chairman, President and Chief Executive Officer of the Company commented, "After a comprehensive review, the Company's Board reached the decision to take these actions, including the closure of our Quebec City office by the end of December, making all associates based there redundant. We will transfer many of the functions now performed in our Quebec City office to other personnel and we will strengthen our financial team with the addition of new finance and accounting personnel in our Charleston, South Carolina office. A comprehensive search for a Chief Financial Officer and the other finance and accounting personnel required is underway. Mr. Keith Santorelli, our Vice President, Finance, will succeed Mr. Turpin as our Chief Accounting Officer, with responsibility for all internal and external financial reporting on an interim basis while the Company conducts an external search for a permanent CFO. We appreciate Keith's leadership and commitment to ensuring a smooth transition in our finance and accounting function."
"I would like to thank our colleagues in Quebec City for their contributions to the Company. This decision was difficult but necessary. With these actions, we intend to create value for our shareholders by
Enhancing shareholder and investment community confidence and support
Improving our operating effectiveness and efficiency and
Increasing the strength of our management team.
We will provide information regarding the financial implications of these actions during our discussion of our third quarter results."
FURTHER:
The company has TWO products in phase 3:
ZopTec for endometrial cancer with final evaluation by the DSMB on safety and efficacy early October. It has the potential to become the first FDA approved treatment for endometrial cancer.
Macrilen for the diagnosis of Adult Growth Hormone Deficiency. It has the potential to become the golden standard in diagnosing AGHD.
The company also has TWO products which have met their primary endpoint without safety concerns:
ZopTec for ovarian cancer and heavily pretreated prostate cancer.
More:
DSMB-safety/efficacy evaluation: positive evaluation for ZopTec phase 3 trial for endometrial cancer: AEZS may continue the trial.
Price estimate on this excellent news:
$.50-$1.23
.50= 300 million dollar market cap based on max diluted shares after warrant conversion and on the Adam Feuerstein biotech oncology rule that biotech firms should be valued at least 300 million dollar before the final FDA approval comes
1.23=consensus price target of 6 analysts
More: some other important notes on their pipeline:
1.An oral vaccin partnered with a German company which will pay for the enterie development, pays an upfront fee, milestones and royalties once commercialized
2 ERK-inhibitors, partnered for 12 months (pre-)clinical testing with a German company, with an option for development and commercialization after 12months testing. Upfront fee, milestones and royalties.
