During Monday’s Morning trade, Shares of Aeterna Zentaris Inc. (NASDAQ:AEZS), lost -11.53% to $0.07.
Aeterna Zentaris, declared the departure of Dennis Turpin, the Company’s former Senior Vice President, Chief Financial Officer, and the decision to close its Quebec City office.
David A. Dodd, Chairman, President and Chief Executive Officer of the Company commented, “After a comprehensive review, the Company’s Board reached the decision to take these actions, counting the closure of our Quebec City office by the end of December, making all associates based there redundant. We will transfer many of the functions now performed in our Quebec City office to other personnel and we will strengthen our financial team with the addition of new finance and accounting personnel in our Charleston, South Carolina office. A comprehensive search for a Chief Financial Officer and the other finance and accounting personnel required is underway. Mr. Keith Santorelli, our Vice President, Finance, will succeed Mr. Turpin as our Chief Accounting Officer, with responsibility for all internal and external financial reporting on an interim basis while the Company conducts an external search for a permanent CFO. We appreciate Keith’s leadership and commitment to ensuring a smooth transition in our finance and accounting function.”
“I would like to thank our colleagues in Quebec City for their contributions to the Company. This decision was difficult but necessary. With these actions, we intend to create value for our shareholders by
- Enhancing shareholder and investment community confidence and support
- Improving our operating effectiveness and efficiency and
- Increasing the strength of our administration team.
We will provide information regarding the financial implications of these actions during our negotiation of our third quarter results.”
Aeterna Zentaris Inc., a specialty biopharmaceutical company, engages in developing and commercializing novel treatments in oncology, endocrinology, and women’s health. The company’s product pipeline comprises MACRILEN, which accomplished the Phase 2 trial for use in the diagnosis of adult growth hormone deficiency; and zoptarelin doxorubicin, which is in Phase 3 clinical study zoptarelin doxorubicin in endometrial cancer (ZoptEC) of the compound in women with advanced, recurrent, or metastatic endometrial cancer.
Shares of Great Basin Scientific, Inc. (NASDAQ:GBSN), inclined 1.16% to $0.0870, during its current trading session.
Great Basin Scientific, declared recently that the Company has presented its Shiga Toxin Direct Test to the U.S. Food & Drug Administration (FDA) for 510(k) clearance following the successful completion of a clinical trial that met all of Great Basin’s clinical objectives. Upon clearance, the test will be the only stand-alone molecular test to detect Shiga toxin-producing E. coli and the serotype O157 directly from a patient specimen.
The Centers for Disease Control (CDC) reports STEC is a leading cause of bacterial enteric infections in the U.S., and in 2009, issued a recommendation that all stools presented for testing from patients with acute community-attained diarrhea should be cultured for STEC O157. These stools should be simultaneously assayed for non-O157 STEC with a test that detects Shiga toxins or the genes encoding these toxins. Conventional laboratory culture-based testing for STEC can be laborious and time-consuming, taking 48-96 hours to prepare and process the tests. The CDC states that prompt, accurate diagnosis of a STEC infection is imperative to reduce further infection or kidney damage, and to determine the best course of care, as antibiotic therapy in patients with STEC infections might result in more severe disease.
Believed by Great Basin to be superior to alternative tests on the market, the Company’s Shiga Toxin Direct Test offers true sample-to-result testing with less than three minutes of hands-on time, no specimen enrichment step, and presents much higher sensitivity than either non-molecular or antigen-based rapid tests, thereby simplifying workflow for laboratory technicians and providing cost savings while facilitating better patient care. The Shiga Toxin Direct Test quickly detects Shiga toxin-producing E. coli – specifically stx1 and stx2 genes – in addition to identifying the serotype O157. E. coli O157 can lead to a life-threatening condition called hemolytic uremic syndrome (HUS), characterized by hemolytic anemia and renal failure. By counting identification of O157 in the test, a laboratory can avoid running additional tests or expensive panels to get the definitive answers clinicians need for timely and accurate course of care, providing the means to avoid health complications that may result from misdiagnosis.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections.
Finally, CyberArk Software, Ltd. (NASDAQ:CYBR), lost -12%, and is now trading at $XX.
CyberArk Software, declared that it has signed a definitive agreement to acquire privately held Viewfinity, Inc., a Waltham, Mass.-based provider of Windows least privilege administration and application control software for $30.5 million in cash. The transaction is predictable to close in the fourth quarter of 2015.
Acquiring Viewfinity enables CyberArk to remove administrative privileges from business users, and limit the privileges available to users and applications to only what is needed, allowing only trusted applications to run. This enables organizations to stop the progression of most malware-based attacks at the endpoint, limiting the attacker’s ability to move beyond their initial point of entry.
With the acquisition of Viewfinity, CyberArk will offer protection against privileged-based attacks targeting both business and IT users. Viewfinity’s integrated least privilege and application control solution, combined with CyberArk’s credential vaulting will provide a comprehensive endpoint privilege administration solution from the established leader in privileged account security.
The Viewfinity offering is available as either an on-premise or SaaS-based solution.
CyberArk Software Ltd. develops, markets, and sells software-based IT security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor privileged account access and activities.
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