Aeterna Zentaris Inc. (TSX: AEZ, Stock Forum) dropped 49.3% to 74 cents Thursday. The company suffered a major setback in its commercialization of Macrilen™, a novel orally-active ghrelin agonist for use in evaluating adult growth hormone deficiency (“AGHD”) when the company announced receiving the Complete Response Letter (“CRL”) from the U.S. Food and Drug Admisitration (“FDA”) stating that the agency had determined that the New Drug Application (“NDA”) for Macrilen cannot be approved in its present form.
According to the news release, the FDA stated in the CRL that the planned analysis of the company's pivotal trial did not meet its stated primary efficacy objective as agreed to in the Special Protocol Assessment agreement letter between the company and the FDA.
Orbite Aluminae Inc. (TSX: T.ORT, Stock Forum) shares eased 3.9% to 37 cents after the company said it has acquired patent applications, at no cost, relating to an inventive process for treating magnesium-bearing materials.
The acquisition is the result of a universal assignment of the applications in favour of Orbite by Alliance Magnesium Inc, a Quebec-based private company, following the public disclosure of related intellectual property regulatory filings, Orbite said in a press release.
| Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern) |
| DiaMedica Inc. (V.DMA, Stock Forum) |
81.40% |
| Petro-Victory Energy Corp. (V.VRY, Stock Forum) |
18.18% |
| SLYCE Inc. (V.SLC, Stock Forum) |
17.78% |
| BNK Petroleum Inc. (T.BKX, Stock Forum) |
16.05% |
| Bedrocan Cannabis Corp. (V.BED, Stock Forum) |
13.51% |
| Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern) |
| AEterna Zentaris Inc. (T.AEZ, Stock Forum) |
-49.32% |
| Legumex Walker Inc. (T.LWP, Stock Forum) |
-26.38% |
| Rock Energy Inc. (T.RE, Stock Forum) |
-12.39% |
| Horizons BetaPro S&P\/TSX Global Gold Bear Plus ETF (T.HGD, Stock Forum) |
-9.36% |
| Stuart Olson Inc. (T.SOX, Stock Forum) |
-6.04% |