Aeterna Zentaris has posted a net loss of $5.9m for the first quarter of 2010, or $0.09 per diluted share, compared to $12.4m, or $0.23 per diluted share, for the prior year period. The decrease is mainly related to lower comparative net R&D costs, lower SG&A expenses and higher foreign exchange gains, partly offset by lower comparative license fee revenues and lower sales and royalty margins.
Aeterna Zentaris said that the increase in revenues is mainly due to a comparative increase in sales of Cetrotide to certain customers in the first quarter of 2010. Loss from operations for the first quarter was $7.3m, compared to $13.4m for the comparable period in 2009.
Juergen Engel, president and CEO of Aeterna Zentaris, said: “This has been a very exciting quarter as we made great strides in the development of our lead oncology compound, perifosine, now in Phase 3 registration trials for multiple myeloma and refractory advanced colorectal cancer.
“Furthermore, the different designations recently granted by the FDA in both indications and the EMA’s positive Scientific Advice for multiple myeloma, will accelerate as well as facilitate the future review and marketing authorization processes in North America and Europe.”