08:56 AM EDT, 03/27/2024 (MT Newswires) -- Aeterna Zentaris Inc. ( AEZS ) , up 3% in US premarket trade, on Wednesday reported its results for the year ended December 31, 2023 and provided an update on its Phase 3 safety and efficacy study AEZS-130-P02 (DETECT trial) evaluating macimorelin for the diagnosis of Childhood Onset Growth Hormone Deficiency (CGHD).

The company completed enrollment of all patients in the DETECT trial and expects the last patient will receive their first growth hormone stimulation test using macimorelin in April. The multicenter, open-label trial is investigating the efficacy and safety of a single oral dose of 1.0 mg/kg macimorelin acetate as growth hormone stimulation test in pediatric patients with suspected CGHD. The study included 100 subjects in Europe and North America.

Aeterna, which keeps its books in US$, reported a net loss of $5.6 million, or $(1.16) per common share, compared with a net loss of $12.5 million, or $(2.56) per common share for the three-month period ended December 31, 2022. The $6.9 million decrease is due to the non-recurring $8.3 million impairment of goodwill and intangible assets in the prior year as well as an increase in net other income of $0.9 million. This was offset by a $2.4 million decrease in revenues.

Total revenue was $0.1 million versus $2.5 million for the same period in 2022. The decrease is primarily due to the termination of Aeterna's agreement with Novo Nordisk Healthcare in May 2023, offset by a $0.1 milling increase in product sales.