Aeterna Zentaris Updates Annual Meeting and Due Bill Redemption Date

TORONTO, ONTARIO, May 29, 2024 -- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS), a specialty biopharmaceutical company, has announced an application for an order under section 133(3) of the Canada Business Corporations Act. The application aims to extend the time for the company to call and hold its annual shareholder meeting to a date no later than July 31, 2024. This application will be heard by a judge of the Ontario Superior Court of Justice, Commercial List, on June 3, 2024, at 11:00 a.m. via videoconference. The company has not guaranteed the success of this application.

As part of its efforts, Aeterna will submit an application record, a factum, and a draft order to the Court, which will also be accessible on the company's website. Shareholders wishing to attend the hearing can request a link by contacting the company via email. The company seeks the extension to ensure adequate time to complete a previously announced transaction with Ceapro Inc. before the annual meeting. This would allow former Ceapro shareholders to participate and vote at the meeting.

At the annual meeting, shareholders will vote on the new name and director nominees for the merged entity. The transaction with Ceapro is anticipated to close around June 3, 2024, subject to necessary approvals and conditions. Additionally, the Toronto Stock Exchange has granted Aeterna an extension to hold its annual meeting by July 31, 2024.

Furthermore, Aeterna has clarified that due bills associated with the company's common shares due to a previously announced warrant issuance will have a redemption date of June 3, 2024.

Aeterna Zentaris Inc. specializes in developing and commercializing a diverse portfolio of pharmaceutical and diagnostic products targeting unmet medical needs. Their lead product, macimorelin (Macrilen; Ghryvelin), is the first and only oral test approved by the U.S. FDA and European Commission for diagnosing adult growth hormone deficiency (AGHD). The company is also developing macimorelin for diagnosing childhood-onset growth hormone deficiency (CGHD) and is working on therapeutic assets for various indications, including neuromyelitis optica spectrum disorder (NMOSD), Parkinson's disease (PD), hypoparathyroidism, and amyotrophic lateral sclerosis (ALS).

In their forward-looking statements, Aeterna acknowledges inherent risks and uncertainties, including reliance on the success of the DETECT clinical trial in the EU and U.S. for macimorelin in CGHD, potential challenges in ongoing or planned pre-clinical studies, and the need for financing to continue operations. The company also notes global uncertainties due to COVID-19 and geopolitical events, potential difficulties in maintaining licensing and distribution agreements, and the availability of regulatory and stock exchange approvals for the transaction with Ceapro.

Aeterna advises investors to refer to their quarterly and annual filings for further risk factors and disclaim any obligation to update forward-looking statements unless required by law. The Toronto Stock Exchange has not reviewed or accepted responsibility for the adequacy or accuracy of this release.