QUEBEC CITY, Nov. 11 /CNW Telbec/ -- Æterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ) (the "Company"), a global biopharmaceutical company focused on endocrinology and oncology, today reported financial and operating results as at and for the three-month and nine-month periods ended September 30, 2009.

Third Quarter 2009 Highlights
- July 7, 2009. Publication in Proceedings of the National Academy of
Sciences, of new data supporting the use of AEZS-123 for the treatment
of alcohol dependence that involves ghrelin.
- August 3, 2009. The Company's licensee partner for perifosine in North
America, Keryx Biopharmaceuticals ("Keryx"), disclosed that it had
reached an agreement with the FDA regarding a Special Protocol
Assessment on the design of a Phase 3 trial for multiple myeloma.
- August 17, 2009. Disclosure of results for two Phase 3 studies with
cetrorelix in benign prostatic hyperplasia ("BPH"). The efficacy study
Z-033 did not achieve its primary endpoint. Results from the safety
study Z-041 were positive and exhibited a similar level of efficacy as
the previously disclosed Phase 2 study results.
- September 16, 2009. Disclosure that Keryx received Orphan Drug
designation from the FDA for perifosine for multiple myeloma.
- September 21, 2009. Disclosure of Phase 1 study results with AEZS-112
in advanced solid tumors or lymphoma showed prolonged courses of stable
disease, excellent tolerability and potential for long-term use as a
combination treatment for cancer.
- September 30, 2009. Disclosure of results for the Thorough QT Z-043
("TQT") study, which is part of the cetrorelix pamoate clinical
development in BPH. The study met its primary endpoint.
Subsequent to Quarter-End
- October 19, 2009. Disclosure of the initiation of activities to
complete a Phase 3 trial with macimorelin (AEZS-130) as a first
approved oral diagnostic test for Growth Hormone Deficiency.
- October 23, 2009. Completion of a $5.5 million registered direct
offering.
- November 2, 2009. Disclosure of positive preliminary results for the
Phase 2 study with AEZS-108 in ovarian cancer.

Juergen Engel, Ph.D., Æterna Zentaris President and Chief Executive Officer, commented, "During this quarter, we disclosed results for the first of two efficacy trials of our Phase 3 program in BPH with cetrorelix. The first efficacy trial did not reach its primary endpoint, while results for the safety and TQT trials were positive. We remain committed to this program and are working towards receiving the results of the second efficacy study next month. Furthermore, we made significant progress with other innovative late-stage compounds such as perifosine and AEZS-108 in oncology, as well as AEZS-130 in endocrinology, which are further proof of the breadth of our pipeline."

Dennis Turpin, the Company's Senior Vice President and Chief Financial Officer, added, "Our financial position enables us to pursue our business and drug development activities, as planned."

CONSOLIDATED RESULTS AS AT AND FOR THE THREE-MONTH PERIOD ENDED
SEPTEMBER 30, 2009

Consolidated revenues were $8.6 million for the three-month period ended September 30, 2009, compared to $11.0 million for the same period in 2008. This decrease is mainly related to lower royalty revenues having been recognized in 2009 in connection with the monetization of the royalties derived from the Company's agreement with Merck Serono. Amortization of the monetization proceeds received for the three months ended September 30, 2009 was lower than the royalty revenues generated and payable directly by Merck Serono during the same period in 2008.