Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 222

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 18
Chunk 222
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) technology, which is a unique technology that generates high-value yields of active ingredients from natural based resources for use in novel cosmeceutical, nutraceutical and pharmaceutical products. The Company’s two value-driving products, oat beta glucan and avenanthramides, are found in many household name cosmetic and personal care brands. These products are manufactured from the Company’s proprietary oat extraction manufacturing technology and are known for their well-documented health benefits.
 
On August 27, 2024, the Company announced that the Phase 3 DETECT-trial evaluating macimorelin for the diagnosis of Childhood Onset Growth Hormone Deficiency (CGHD) had failed to meet its primary endpoints according to the definitions in the study protocol. Based on the results of the study, the Company is prioritizing its pipeline moving forward. While macimorelin for the diagnosis of Adult Growth Hormone Deficiency is still on the market, the Company has decided to not make any future investments in macimorelin for the diagnosis of CGHD and is exploring and validating several options for its commercialization with adults.
 
These consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which presumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.
 
During the year ended December 31, 2024, the Company incurred a net loss and had negative cash flow from operating activities of $15,309 and $14,706, respectively. As at December 31, 2024, the Company had an accumulated deficit of $12,110.
 
Assessing the Company’s ability to continue as a going concern requires significant judgment, and is based on detailed financial forecasts, which incorporate significant estimates related to future sales, operating costs, research and development expenses, and capital expenditures. The Company’s ability to satisfy the Company’s financial liabilities is dependent upon attaining positive cash flows from operations. While the Company believes that cash on hand and future cash flows from operations will be adequate to support the Company’s financial liabilities as they become due for a period of at least 12 months from the date of issuance of these consolidated financial statements, future cash flows are dependent on a number of factors outside the Company’s control. As a result of the concentration of revenue from a major customer primarily located in the United States described in Note 25, as well as the potential direct and indirect impacts due to tariffs, retaliatory tariffs or other trade protectionist measures