INVESTOR ALERT: Class Action Lawsuit Against Aeterna Zentaris Inc. Announced by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of the securities of Aeterna Zentaris Inc. (“Aeterna” or the “Company”) (NASDAQ:AEZS) between October 18, 2012 and November 5, 2014, inclusive (the “Class Period”). Aeterna is a specialty biopharmaceutical company, and is developing macimorelin − an orally active small molecule that stimulates the secretion of growth hormone − as a treatment for Adult Growth Hormone Deficiency.

The lawsuit alleges that defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects, including that: (1) the planned analysis of macimorelin’s pivotal clinical trial failed to meet its primary efficacy endpoint pursuant to the Special Protocol Assessment agreement letter between the Company and the FDA; (2) insufficient data existed to confirm that the patients in the clinical trial were accurately diagnosed with Adult Growth Hormone Deficiency; (3) a serious cardiac event could have been attributed to macimorelin; (4) as a result, the FDA would not approve the New Drug Application for macimorelin in its present form; and (5), the Company’s statements about its business, operations and prospects, including statements about macimorelin’s prospects for FDA approval, were materially false and misleading and/or lacked a reasonable basis.

On November 6, 2014, the Company revealed that the FDA determined that the New Drug Application for macimorelin could not be approved in its present form. The FDA concluded that the planned analysis of the Company’s pivotal trial did not meet its stated primary efficacy objective, and “in light of the failed primary analysis and data deficiencies noted, the clinical trial does not by itself support the indication.” In addition, the FDA noted that a serious event of electrocardiogram QT interval prolongation occurred for which attribution to the drug could not be excluded, and a dedicated QT interval study would be necessary. Following this news, Aeterna shares declined nearly 50%, or $0.64 per share, to close on November 6, 2014, at $0.65 per share, on unusually heavy volume.

If you are a member of the Class described above, you have until January 12, 2015, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.

Law Offices of Howard G. SmithHoward G. Smith, [e-mail]