 CHARLESTON, S.C., Aug. 05, 2020 GLOBE NEWSWIRE -- Aeterna Zentaris Inc. NASDAQ: AEZS; TSX: AEZS the Company, a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests, announced today the closing of its previously announced registered direct offering with several institutional investors in the United States for 12,427,876 common shares, at a purchase price of 0.56325 per common share, priced at-the-market under Nasdaq rules. Additionally, the Company issued to the investors unregistered warrants to purchase up to an aggregate of 9,320,907 common shares in a concurrent private placement. The warrants have an exercise price of 0.47 per common share, are exercisable immediately and will expire five and one-half years following the date of issuance. The gross proceeds to the Company from the offering totaled approximately 7.0 million, before deducting placement agent fees and offering expenses. H.C. Wainwright Co. acted as the exclusive placement agent for the offering. The Company intends to use the net proceeds of this offering for general corporate purposes, which includes, among other purposes, the funding of a pediatric clinical trial in the E.U. and U.S. for MacrilenTM macimorelin, the investigation of further therapeutic uses of macimorelin and the expansion of pipeline development activities. The common shares described above but not the warrants or the common shares underlying the warrants were offered by Aeterna Zentaris pursuant to a shelf registration statement on Form F-3 File No. 333-232935, which was previously declared effective by the U.S. Securities and Exchange Commission SEC on August 15, 2019. Such common shares were offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and the accompanying prospectus relating to the registered direct offering was filed by Aeterna Zentaris with the SEC and may be obtained at the SECs website at Electronic copies of the prospectus supplement and accompanying prospectus relating to the registered direct offering may also be obtained by contacting H.C. Wainwright Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at 646 975-6996 or by email at warrants described above were offered in a private placement pursuant to an exemption from the Securities Act of 1933, as amended the Act, and along with the common shares issuable upon their exercise, have not been registered under the Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. In obtaining the approval of the Toronto Stock Exchange TSX of the offering, the Company relied on the exemption set forth in Section 602.1 of the TSX Company Manual available to Eligible Interlisted Issuers, since the Companys common shares are also listed on the NASDAQ Capital Market and had less than 25 of the overall trading volume of its listed securities occurring on all Canadian marketplaces in the twelve months immediately preceding the date on which application was made to the TSX to approve the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No Canadian prospectus has been or will be filed in a province or territory of Canada to qualify the common shares or the warrants in connection with the offering. About Aeterna Zentaris Inc. Aeterna Zentaris Inc. is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests. The Companys lead product, MacrilenTM macimorelin, is the first and only U.S. FDA and European Commission approved oral test indicated for the diagnosis of adult growth hormone deficiency AGHD. MacrilenTM is currently marketed in the United States through a license agreement with Novo Nordisk and Aeterna Zentaris receives double-digit royalties on sales. Aeterna Zentaris owns all rights to macimorelin outside of the U.S. and Canada. Aeterna Zentaris is also leveraging the clinical success and compelling safety profile of macimorelin to develop it for the diagnosis of child-onset growth hormone deficiency CGHD, an area of significant unmet need. The Company is actively pursuing business development opportunities for the commercialization of macimorelin in Europe and the rest of the world, in addition to other non-strategic assets to monetize their value. For more information, please visit and connect with the Company on Twitter, LinkedIn and Facebook. Forward-Looking Statements This press release contains forward-looking statements as defined by applicable securities legislation made pursuant to the safe-harbor provision of the U.S. Securities Litigation Reform Act of 1995, which reflect our current expectations regarding future events. Forward-looking statements include those relating to the intended use of the proceeds from the offering and may include, but are not limited to statements preceded by, followed by, or that include the words will, expects, believes, intends, would, could, may, anticipates, and similar terms that relate to future events, performance, or our results. Forward-looking statements involve known and unknown risks and uncertainties, including those discussed in our Annual Report on Form 20-F, under the caption Key Information - Risk Factors filed with the relevant Canadian securities regulatory authorities in lieu of an annual information form and with the SEC, and other factors discussed under the heading Risk Factors in the Companys Registration Statement on Form F-1 File No. 333-232935 filed with the SEC and other documents subsequently filed with or furnished to the SEC. Known and unknown risks and uncertainties could cause our actual results to differ materially from those in forward-looking statements. Such risks and uncertainties include, among others, our ability to raise capital and obtain financing to continue our currently planned operations, our ability to regain compliance with the continued listing requirements of the NASDAQ and continue to list our Common Shares on the NASDAQ, our ability to continue as a going concern is dependent, in part, on our ability to transfer cash from Aeterna Zentaris GmbH to Aeterna Zentaris and the U.S. subsidiary and secure additional financing, our now heavy dependence on the success of MacrilenTM macimorelin and related out-licensing arrangements and the continued availability of funds and resources to successfully commercialize the product, including our heavy reliance on the success of the License Agreement with Novo, the global instability due to the global pandemic of COVID-19, and its unknown potential effect on our planned operations, including studies, our ability to enter into out-licensing, development, manufacturing, marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect, our reliance on third parties for the manufacturing and commercialization of MacrilenTM macimorelin, potential disputes with third parties, leading to delays in or termination of the manufacturing, development, out-licensing or commercialization of our product candidates, or resulting in significant litigation or arbitration, uncertainties related to the regulatory process, unforeseen global instability, including the instability due to the global pandemic of the novel coronavirus, our ability to efficiently commercialize or out-license MacrilenTM macimorelin, our reliance on the success of the pediatric clinical trial in the European Union E.U. and U.S. for MacrilenTM macimorelin, the degree of market acceptance of MacrilenTM macimorelin, our ability to obtain necessary approvals from the relevant regulatory authorities to enable us to use the desired brand names for our product, our ability to successfully negotiate pricing and reimbursement in key markets in the E.U. for MacrilenTM macimorelin, any evaluation of potential strategic alternatives to maximize potential future growth and shareholder value may not result in any such alternative being pursued, and even if pursued, may not result in the anticipated benefits, our ability to take advantage of business opportunities in the pharmaceutical industry, our ability to protect our intellectual property, and the potential of liability arising from shareholder lawsuits and general changes in economic conditions. Investors should consult our quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties. Given these uncertainties and risk factors, readers are cautioned not to place undue reliance on these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, unless required to do so by a governmental authority or applicable law. Investor Contact:Jenene Thomas JTC Team T US: 1 833 475-8247 E: 