Why Are These Stocks Seeing Green Today?

Finally, among the big gainers today is AEterna Zentaris Inc. (USA) (NASDAQ:AEZS). Shares of the retailer are 16% in the green after reporting a new phase 3 study to evaluate the efficacy of Macrilen (macimorelin), a product which could be used for assessing growth hormone deficiency in adults. The company believes that the study complies with the European Medicines Agency (“EMA”) and FDA requirements to be marketed in the future in Europe and the U.S.

“On January 16, we held an Investigators’ Meeting for our multi-center confirmatory Phase 3 clinical trial of Macrilen™. The purpose of the meeting was to review Macrilen™ with the investigators, as well as the clinical trial protocol. The 77 investigators and site personnel who attended the meeting included Jose Manuel Garcia, MD, PhD, Associate Professor of Medicine at University of Washington School of Medicine, Seattle, who is serving as coordinating investigator. Dr. Garcia expressed his commitment to the development of Macrilen™ because of the medical need for such a convenient test in the absence of an FDA-approved diagnostic test for AGHD,” said Dr. Richard Sachse, the Company’s Chief Scientific Officer.

Much like NVIDIA Corporation (NASDAQ:NVDA), hedge funds have become increasingly bullish on AEterna Zentaris Inc. (USA) (NASDAQ:AEZS), with the number of firms betting on it having doubled during the third quarter of 2015, to four. Jim Simons’ Renaissance Technologies holds the largest stake among those, comprising 11.28 million shares.

Disclosure: None