The press release to the investor by the pharmaceutical companies reveals two distinct things. On the one hand, BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) Appoint Industry Veteran to achieve the company’s vision. But, on the other hand, AEterna Zentaris Inc. (NASDAQ: AEZS) received an exchange notification that the company no longer satisfies Nasdaq listing rules.
Appoint industry veteran to achieve company objectives
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) announced the appointment of (HAE) hereditary angioedema and rare disease industry leader to its board. Mr. Milano is currently working as Chief Executive Officer (CEO) of Idera Pharmaceuticals Inc. He has served as a chairman, CEO (Chief Executive Officer), and president of Viropharma. The company had successfully developed Cinryze for the HAE treatment in Europe and the United States.
The company is expected to use Mr. Milano’s vast experience to advance its pipeline programs. In addition, his experience will also come handy, as the company brings berotralstat to HAE patients globally. The company is expected to leverage its scientific and commercial rare disease expertise to develop a pipeline of unique oral medicines to treat rare diseases.
AEterna Zentaris Inc. (NASDAQ: AEZS) fails to comply with the exchange listing rules
AEterna Zentaris Inc. (NASDAQ: AEZS) is a specialized biopharmaceutical company, announced that the company had received the notification from “Nasdaq” (The Nasdaq Stock Market LLC). The notification states that the company fails to satisfy the Nasdaq listing rules, based on the closing share prices of the company below $1 per share for the consecutive thirty business days. Therefore, to comply with the exchange rules and regulations, the company has been granted one hundred and eight days of the grace period, i.e., up to January 24, 2022, to comply will all the rules and regulations of the exchange.
Suppose the company fails to comply with the exchange rules and regulations during the grace period. The company would be entitled to a hearing before the Nasdaq Hearings Panel. The request would stay any delisting action by the Staff pending completion of the hearing process. All this action is separate from its business operations. The company stated that its operations are running smoothly, and the notification from Nasdaq doesn’t impact its business operations.