Aeter­na Zen­taris shares evis­cer­at­ed by its lat­est late-stage drug dis­as­ter

When Aeter­na Zen­taris $AEZS planned a move to Charleston, SC, a cou­ple of years ago, the biotech promised to cre­ate a batch of new jobs as it wres­tled to make a come­back fol­low­ing a sting­ing FDA re­jec­tion of its lead drug. This morn­ing, though, the com­pa­ny sim­ply added to its litany of set­backs.

Billed by at least one an­a­lyst as the fu­ture of the com­pa­ny, the biotech an­nounced that its drug Zop­trex failed a Phase III study for ad­vanced en­dome­tri­al can­cer. And now it’s sim­ply wash­ing its hands of the drug and go­ing back to see if they can wres­tle an ap­proval for an old drug that’s al­ready been re­ject­ed by the FDA.

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