AEterna Zentaris Inc. (NASDAQ: AEZS) is off to an incredibly strong time in the market today, and for good reason. The company announced the formation of a special committee of independent directors as well as the appointment of the CEO. Of course, this led to excitement among investors, sending the stock toward the top and prompting our partners at Trade Ideas to alert us to the gains. At the moment (10:36), AEZS is trading at $2.90 per share after a gain of $0.10 per share or 3.57% thus far today.
AEZS Gains On Business Update
As mentioned above, AEterna Zentaris is having an incredibly strong day in the market today after announcing a key business update. The first part of the update focused on a special committee that the company formed, comprised of independent directors, to consider and evaluate various strategic and financing alternatives available. The goal here is to maximize shareholder value and continue executing on existing business plans and/or considering and recommending changes to the Company’s management and governance.
Also announced today, AEZS said that David A. Dodd is no longer the company’s President and CEO, effective immediately. However, he didn’t take long to replace. In fact, the board of directors at AEZS have appointed Mr. Michael Ward as the new CEO.
With him, Mr. Ward has more than 30 years of executive and legal experience in the healthcare, pharmaceutical, and technologies industry to bring to the table. He has served most recently as the Chief Compliance & Legal Officer and Corporate Secretary for Sagent Pharmaceuticals. He has also served as a Strategic Advisor to Benevolent Capital Partners for the past 5 years and is currently a partner at Outside GC LLC. The reality is that the list of his accomplishments could go on and on.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AEZS. In particular, we’re interested in following the news surrounding the recent NDA acceptance and excited to see the result of the application. We’re also interested in following Mr. Ward as he guides the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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