Oppenheimer Maintains a 'Perform' on Æterna Zentaris (AEZS) as Outlook Doesn't Seem to Improve
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Price: $1.96 -0.51%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Oppenheimer maintains a 'Perform' on Æterna Zentaris (NASDAQ: AEZS).
Analyst, Boris Peaker, said, "AEterna Zentaris reported 2Q12 financial results and provided a development update. Total cash was reported at $39.8M, with 2Q burn at ~$2.2M/month. AEterna expects 2H12 burn at ~$2.6M/month and believes it has 12 months of cash. The ATM program was stopped on 8/2 after AEZS issued 2.6M shares in 2Q for $1.9M and 1.0M shares for $0.5M in July. We view the perifosine interim analysis in 1Q13 as the next significant catalyst for AEterna. However, we continue to have concern surrounding capital requirements for pipeline advancement and the risk of perifosine failure in myeloma."
Peaker lowers FY12 loss from (0.31) to (0.21), but raises FY13 from (0.30) to (0.33)
For an analyst ratings summary and ratings history on Æterna Zentaris click here. For more ratings news on Æterna Zentaris click here.
Shares of Æterna Zentaris closed at $0.47 yesterday.
Analyst, Boris Peaker, said, "AEterna Zentaris reported 2Q12 financial results and provided a development update. Total cash was reported at $39.8M, with 2Q burn at ~$2.2M/month. AEterna expects 2H12 burn at ~$2.6M/month and believes it has 12 months of cash. The ATM program was stopped on 8/2 after AEZS issued 2.6M shares in 2Q for $1.9M and 1.0M shares for $0.5M in July. We view the perifosine interim analysis in 1Q13 as the next significant catalyst for AEterna. However, we continue to have concern surrounding capital requirements for pipeline advancement and the risk of perifosine failure in myeloma."
Peaker lowers FY12 loss from (0.31) to (0.21), but raises FY13 from (0.30) to (0.33)
For an analyst ratings summary and ratings history on Æterna Zentaris click here. For more ratings news on Æterna Zentaris click here.
Shares of Æterna Zentaris closed at $0.47 yesterday.
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