May 9, 2012 / 1:27 PM / 6 years ago

Aeterna Zentaris loss widens on higher finance costs

(Reuters) - Canadian drugmaker Aeterna Zentaris Inc AEZ.TO (AEZS.O) posted a wider first-quarter loss as finance costs soared.

Net loss widened to $11.5 million, or 11 cents per share, from $10.1 million, or 12 cents per share, a year ago.

The company said its net loss widened mainly due to higher net finance costs attributable to a change in fair value of its warrant liability.

Revenue rose 28 percent to $9.5 million due mainly to higher deliveries of Cetrotide — an in-vitro fertilization treatment to prevent premature ovulation.

The company recently canceled a licensing deal with New York-based Keryx Biopharmaceuticals Inc (KERX.O) for cancer drug perifosine, but said it would continue a late-stage trial on its own.

Aeterna Zentaris shares, which have lost more than two-thirds of their value in the past three months, closed at 56 Canadian cents on Tuesday on the Toronto Stock Exchange.

Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below