AEterna Zentaris Inc. (USA)(NASDAQ:AEZS) reported that The Toronto Stock Exchange has approved amendment to its outstanding Series ‘B’ Common Share Warrants agreed to with the holders of nearly 90% of the Series B Warrants holders. They were planned to mitigate the dilutive effect of the Series B Warrants exercise by defining a limit on the count of shares issuable upon “Net Cashless Exercise” of the Series ‘B’ Warrants until November 17, 2015 and by restricting the count of shares that the agreeing Holders may offer until October 9, 2015.

The highlights

In approving the amendment to Series ‘B’ Warrant, Toronto Stock Exchange relied on the exemption established in Section 602.1 of the AEterna Manual available to entitled Interlisted Issuers, since AEZS common shares are listed on the NASDAQ exchange and features less than 25% of the total trading volume of company’s listed securities recorded on all Canadian marketplaces in the last one year immediately preceding the application date.

As of September 25, nearly 8.2 million Series ‘B’ Warrants were outstanding, indicating almost 27.6 % of the count originally issued. Additionally, as of September 25, 2015, the count of issued and outstanding common shares of AEterna stood at 447.7 million.

The profile

Aeterna Zentaris is active in the field of specialty biopharmaceutical industry. The firm is engaged in development and commercialization of unique therapies in endocrinology, oncology and women’s health. It has three wholly owned indirect and direct subsidiary firms, Aeterna Zentaris GmbH, Zentaris IVF GmbH, a subsidiary unit of AEZS Germany, and Aeterna.

Its lead product candidates are Macrilen, an orphan medication that assess growth hormone deficiency, and zoptarelin doxorubicin, a therapy for endometrial cancer and other types of cancers. In last trading session, the stock price of Aeterna Zentaris gained more than 3% to close the trading session at $0.0881. The market cap stands at $16.40 million.


AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) is not a very liquid stock and the volume pattern has been mute for a very long time now. That is the reason any spike in the volume is noticeable more than any price activity. In the last few sessions, the price has been consolidating in a very narrow range after a sharp rally from $0.025 to $0.13 levels in a single session but the volume has seen a definite surge. The capitulation at the lower levels, especially after so long a downtrend is normal but it has found buyers too.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.