AEterna Zentraris Surged 17%: Here Is What You Need To Know

Shares of

, a specialty nano-cap bio-pharmaceutical company engaged in developing treatments in oncology, endocrinology and women's health, surged higher by more than 17 percent on Monday after the company

that several of its executive managers initiated on-market purchases of nearly 30,000 of the company's Common Shares last week. AEterna Zentaris noted that its Chairman, President and Chief Executive Officer, David Dodd, purchased approximately $50,000 worth of shares. Other executives that acquired stock include the company's Senior Vice President and Chief Commercial Officer, Jude Dinges and Philip Theodore, the company's Senior Vice President, Chief Administrative Officer and General Counsel. Commenting on his continued confidence in the Company's business and prospects, Mr. Dodd, speaking in his personal capacity and not as an officer of the Company, stated, "I am personally convinced that our business is strong and improving. The Company has two products in Phase 3 studies and a portfolio of three products that it co-promotes. Aeterna Zentaris expects to complete both Phase 3 studies by the end of 2016 and, if the studies meet their primary endpoints, to file NDAs for both products as rapidly as practicable. The Company has sufficient cash on hand to fund operations through the conclusion of the Phase 3 studies and through first quarter.