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Stephen is the President of Kilmer Lucas Inc. ( and BioTuesday Publishing Corporation ( Prior to founding both firms, he was the VP of Investor & Public Affairs for OccuLogix Inc., a Boston-based medical device company. Before managing OccuLogix’ spin-out... More
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BioTuesday Publishing Corporation, a wholly-owned subsidiary of Kilmer Lucas Inc.
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  • Dundee upgrades AEterna to Buy 0 comments
    Jun 18, 2010 10:08 AM | about stocks: AEZS

    Dundee Securities upgraded AEterna Zentaris (NASDAQ:AEZS TSX:AEZ) to “buy” from “neutral” but kept its price target at $2 (U.S.), based on recent stock weakness and removal of a financing overhang.

    Analyst David Martin writes that a financing issue this week should support operations for about 20 months based on an expected burn rate of $2.3 million per month.

    “Optimally, AEterna would have completed a license deal for perifosine in ex-U.S. markets, and/or for its AEZS-108 drug, then issue equity at a higher stock price.  Nonetheless, the financing eliminates an overhang, as it should provide a funding runway to Phase 3 results for perifosine in multiple myeloma and colorectal cancer.  Both trials are expected to report results in the second half of 2011,” he said in a new report.

    Disclosure: No positions
    Stocks: AEZS
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