The market just opened, but investors are already getting a major dose of biopharmaceutical company Aeterna Zentaris (TSE:AEZS) (NASDAQ:AEZS). While I’m sure that most headlines today will be focusing on Long Island Ice Teas (NASDAQ:LTEA) latest announcement, one cannot ignore the moves Aeterna is making Thursday.
As of this writing, Aeterna Zentaris is up 43.78% and is currently trading at $2.89. The South Carolina-based company has had a successful couple of months, but today’s increase is primarily due to the company revealing to the public that the FDA has officially approved its treatment for those struggling with adult growth hormone deficiency.
Last month, the European Medicines Agency accepted the treatment – which is called Macrilen – for regulatory review, and as mentioned, the United States FDA gave Aeterna marketing approval for Macrilen on Thursday. To no surprise, the company is thrilled they have been given approval, stating that it is proud to provide such commitment and dedication to those suffering from suspected adult growth hormone deficiency.
Adult growth hormone deficiency might not be as threatening as cancer, sure, but it is definitely something our world needs to keep in the back of our minds, and I’m glad to see that Aeterna Zentaris is reaping the benefits from working as hard as they did to get the FDA’s approval for Macrilen. For those who don’t know, AGHD is a multifactorial disorder and, according to Aeterna Zentaris, there are roughly 60,000 ongoing tests for suspected adult growth hormone deficiency in both Canada and the United States.
So long as everything goes according to plan, Aeterna Zentaris will make the treatment available commercially in the U.S. next year.
As for the stock itself, AEZS has performed at -44.17%. For the week it has performed -10.27%%. At this point in time, analysts have given the stock a 2.00 recommendation rating. This rating is based on a 1 to 5 scale, in which 1 signifies a ‘strong buy’ and 5 signifies a ‘strong sell.’
Featured Image: twitter
