On August 9, 2018 Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS), a biopharmaceutical company engaged in developing and commercializing pharmaceutical products, reported financial and operating results for the second quarter ended June 30, 2018 (Press release, AEterna Zentaris, AUG 9, 2018, View Source [SID1234528747]).
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Recent Key Developments
The Company’s U.S. and Canadian out-licensing partner, Strongbridge Biopharma plc (NASDAQ: SBBP) officially launched our product Macrilen (macimorelin) in the United States effective July 23, 2018. Macrilen is the first and only FDA-approved oral ghrelin receptor agonist to be administered in the diagnosis of patients with adult growth hormone deficiency (AGHD) in the United States.
The Company successfully submitted its required response to the European Medicines Agency (EMA) for the use of macimorelin for the evaluation of AGHD in July 2018.
The Company continues to respond to out-licensing and other commercial partners for other markets globally.
The Company’s financial condition remains strong with $19.9 million of cash and cash equivalents and no debt.
Commenting on recent key developments, Michael V. Ward, President and Chief Executive Officer for Aeterna Zentaris, stated, "We are very pleased with the continued progress being made by the Company in achieving our growth strategy of maximizing the global value of macimorelin. We are also very pleased with the launch of Macrilen in the United States."
Second Quarter Financial Highlights
Cash $19.9 million
Revenues $0.2 million
Research and Development ("R&D") Costs $1.0 million
General and Administrative ("G&A") Expenses $2.0 million
Net loss $2.6 million
The Company will host a conference call to discuss these results on Friday, August 10, 2018, at 8:30 a.m., Eastern Time. Participants may access the conference call by telephone using the following dial-in numbers:
Toll-Free: 877-407-8029, Confirmation #13681858
Toll: 201-689-8029, Confirmation #13681858
A replay of the conference call will also be available on the Company’s website for a period of 30 days. For reference, the Management’s Discussion and Analysis of Financial Condition and Results of Operations for the second quarter 2018, as well as the Company’s audited consolidated financial statements as at June 30, 2018, 2017, 2016 and 2015, can be found at www.zentaris.com in the "Investors" section.