December 19, 2014
Aeterna Zentaris Receives Notification from NASDAQ Relating to Minimum Bid Price
Quebec City, Canada, December 19, 2014 – Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the “Company”) announced today that it has received a notice from The NASDAQ Listing Qualifications Department indicating that the Company's minimum bid price has fallen below $1.00 for 30 consecutive business days, and, therefore, was no longer in compliance with NASDAQ Marketplace Rule 5550(a)(2) - bid price. The Company has been provided 180 calendar days, or until June 16, 2015, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days. This notice does not impact the Company's listing on The NASDAQ Capital Market at this time.
Under NASDAQ rule 5810(c)(3)(A) - compliance period, if the Company does not regain compliance within the initial 180-day period, but otherwise meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market (rule 5505 - Capital Market criteria) except for the bid price requirement, and the Company provides NASDAQ with notice of its intention to cure the bid price deficiency, the NASDAQ rules may permit an additional 180 calendar days to regain compliance. If the Company is not eligible for an additional compliance period, NASDAQ will notify the Company that its securities are subject to delisting. At that time, the Company may appeal this determination to delist its securities to a NASDAQ Hearings Panel.
The Company intends to monitor the bid price for its securities between now and June 16, 2015 and will consider all available options to resolve the deficiency and regain compliance with the minimum bid price requirement.
there is no logic in price action. I would understand a sell the news if we were at 10/15. But while trading at cash levels there is no logic. Unless strong hands are shaking out weak hands with illogic trading pattern, We shall see
long and strong
Sentiment: Strong Buy
they had a strong buy on sid last year with a price target of 12. Now they have a strong sell.
In my experience they don't get one right. How can they still be on business is a unresolved question
sell or hold.
difficult to understand fair value of stock.
A 5 years DCF calculation would take us to approx 3 . But one should be sure of flow of royalties in the coming years.