From Aeterna Zentaris (AEZS) Q1 2014 Earnings Call May 9, 2014:
"...let me update you on our cash position. Our cash and cash equivalents totaled $45.3 million (sic) [$45.8 million] at March 31, 2014, as compared to $43.2 million at December 31, 2013. This balance includes the impact of our most recent public offering of 11 million units, which generated net proceeds of approximately $12.2 million. We have the necessary funding to continue to advance our business plan, and more specifically, our ongoing Phase III ZoptEC trial with zoptarelin doxorubicin in endometrial cancer and prelaunch activities associated with MACRILEN in the evaluation of adult growth hormone deficiency.
Regarding our burn rate. Our average monthly operating burn for the first quarter was about $3.2 million. We incurred higher R&D costs as compared to the same quarter in 2013 as we continue to advance our Phase III ZoptEC trial. Additionally, our overall operating burn in the first quarter was impacted by the absence of commercial activities related to our Cetrotide business, which was transferred to Merck Serono in the fourth quarter of last year. Taking into account our ongoing Phase III ZoptEC trials, we continue to expect that our overall operating burn in 2014 will range from $33 million to $35 million. However, this estimate does not take into account the impact of any decision that will be made regarding our strategic review of R&D activities, as well as the impact of our potential partnerships to come." Dennis Turpin - Chief Financial Officer and Senior Vice President http://seekingalpha.com/article/2207263-aeterna-zentaris-aezs-ceo-david-dodd-on-q1-2014-results-earnings-call-transcript?part=single
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