UPDATE 1-Aeterna quarterly loss narrows on lower costs

* Q1 Loss $0.09 a shr vs loss of $0.23 a shr, a yr-earlier

* Co says lower R&D, admin costs help cut losses
(Adds details. In U.S. dollars)

TORONTO, May 13 (BestGrowthStock) – Aeterna Zentaris Inc’s (AEZ.TO: )
first-quarter loss narrowed, due to lower administrative and
research and development costs.

The Canadian drugmaker, known for its cancer therapies,
posted a loss of $5.9 million, or 9 cents a share, compared
with a loss of $12.4 million, or 23 cents a share, in the same
period last year.

Analysts, on average, were expecting a loss of 12 cents a
share, according to Thomson Reuters I/B/E/S.

Its quarterly results were weighed down by lower license
fee revenues, along with lower sales and royalty margins.

Earlier this year, Aeterna warned that it expects its 2010
licensing fees to drop substantially and its sales and
royalties to fall slightly because of lost licensing fees.

Its fourth quarter was helped by $35.2 million in licensing
fees from its partners, including $30.4 million from
Sanofi-Aventis SA (SASY.PA: ). This was part of its development
and marketing agreement for cetrorelix, a treatment for an
enlarged prostate.

That agreement was later scrapped following disappointing
late-stage results for the treatment.

Stock Market Advice
($1=$1.02 Canadian)
(Reporting by Euan Rocha and Scott Anderson; Editing by Derek
Caney)

UPDATE 1-Aeterna quarterly loss narrows on lower costs