Shares of the Aeterna Zentaris Inc. (AEZS) stock were rising in the current market trading session today December 31, 2021. AEZS stock price saw a push of 0.92% to reach $0.3710 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 0.65% at closing. Let’s take a closer look at this stock to understand the reason behind this rise.

What’s Happening?

AEZS stock is bullish on the last day of 2021 however there is no press release or any announcement by the company to support this rise. No analyst has upgraded or increased the per-share target price of this stock in recent times. It seems that stock is making gains due to positive sentiment in the social media platforms like Reddit, Stock Twits and Twitter, etc.

For those who do not know what really Aeterna Zentaris Inc. is, it is a biopharmaceutical company that develops and commercializes therapeutics and diagnostic tests. AEZS stock has a market cap of $45.10 million and a 1,998,398 average trading volume.

New Appointment by AEZS stock

Recently on December 24, 2021, Aeterna Zentaris announced that it has appointed Giuliano La Fratta as Senior Vice President, Chief Financial Officer of the company. Mr. La Fratta will take the charge on January 24th, 2022. He will handle the finance-related leadership functions of the company. He has profound experience of 20 years in the pharmaceutical, biopharma, and financial services sector.

Financial View of AEZS stock

In the first week of the previous month, AEZS announced third quarter 2021 financial results according to which

• The company generated $0.6 million in revenue in the three months ended September 30, 2021. The revenue in the same period of the previous year was $0.1 million.
• The operating expenses of the company were $2.4 million in the third quarter of 2021. These expenses increased as compared to $1.9 million in the same tenure of the previous year. The increase is mainly attributable to increased research and development costs.
• Net finance income in the third quarter of 2021 for the AEZS stock was $0.1 million, $0.5 million lower than the same period of the previous year. A $0.8 million decline in the change in fair value is mainly attributable to this decline.
• The company ended the quarter with $68.0 million in cash and cash equivalents.

Wrap Up

AEZS stock is ending the year 2021 with positive momentum in the stock market. However, the stock has lost almost 28% in 2021.