Post by
prophetoffactz on May 15, 2024 11:14am
AEZS.to new post-merger announcement high
With a bid of $.29 CZO has almost doubled off the low of about 3 months ago. AEZS.to has hit a new post-merger announcement high at $11.93.
CZO is still trading at about the value of its cash post-merger. Yesterday AEZS confirmed its timeline for completion of its diagnostic clinical trial and presentation of top-line results: "DETECT-trial recruitment completed; Company continues to expect the completion of the trial in the second quarter and top-line data in the third quarter of 2024". The deal with Strongbridge had ~C$40 million in upfront cash to AEZS plus additional potential payments and royalties. What could a new North American deal be worth this time? H.C. Wainwright had a C$100 million market cap target price for AEZS before the merger announcement likely largely driven by the diagnostic.
The 5X PGX scale-up has also been said almost complete and this scale was expected to provide materials for potential partners.