Volume Spike Investor

AEterna Zentaris Inc. (NASDAQ: AEZS) is down huge after Phase III results for its North American efficacy trial Z-033 and the safety trial Z-041 in benign prostatic hyperplasia with its lead endocrinology compound for urology, cetrorelix pamoate. The study Z-033 demonstrated no clear differences in overall efficacy with all 3 groups showing an improvement in IPSS of approximately 4 points that was maintained throughout the 52 weeks.  Shares are not just down.  They are being tarred and feathered.  At 9:47 AM EST we have shares down a sharp 65% at $0.98 on 2.8 million shares.  This is getting close to 10X volume compared to 310,000 shares per average days.  The 52-week range is $0.26 to $3.25 and the market cap is a mere $56 million after this morning’s huge drop.

As is frequently the case… beware companies whose stocks are too hard to pronounce……

JON OGG