AEterna's Stock Plunges Toward Record Low After Cancer Treatment Fails In Phase 3 Trial

Shares of AEterna Zentaris Inc. plummeted 57% Monday toward a record low, after the biopharmaceutical company reported disappointing trials results for its cancer treatment. The company said a Phase 3 trial of Zoptrex, a treatment for women with metastatic endometrial cancer, did not meet its primary endpoint of an increase in survival. "Based on this outcome, we do not anticipate conducting clinical trials of Zoptrex™ with respect to any other indications," said Chief Executive David Dodd. He said the company's focus has "shifted entirely" to filing a new drug application for Macrilen to treat adult growth hormone deficiency, which is expected to be submitted in the third quarter of 2017. The stock had lost 6.9% year to date through Friday, while the S&P 500 had gained 6.5%.