AEterna Zentaris Inc. (" AEterna") is a biopharmaceutical company that develops therapeutics and diagnostic tests to treat primarily endocrine diseases.

According to the law firm press release, the Complaint alleges that Defendants mislead investors about the timing and success of AEterna’s clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer.

On April 2, 2012, AEterna shocked the market by disclosing that perifosine was ineffective in treating colorectal cancer. This news caused AEterna stock to drop approximately 66% by the close of the business day.

On September 4, 2012, the Court issued an Order appointing lead Plaintiff and approving the selection of lead Counsel.

On November 5, 2012, the Plaintiffs filed an Amended Complaint. On December 21, Plaintiffs followed with a Second Amended Complaint.

On May 29, 2013, the Court issued an Order granting the Defendants' motion to dismiss and denying the Plaintiff's motion to strike. The dismissal was with prejudice.