Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 80

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 80
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932  
  Warrant and DSU liabilities                                  1,611           -           -  
  Non-financial                                               12,648           -         809  
  Total liabilities                                           21,909       2,710       4,017  
  Shareholders’ equity                                        13,161      21,035      23,823  
  Total liabilities and shareholders’ equity                  35,070      23,745      27,840  

  (1)      Comprised                                                                         

  58  

Liquidity
and capital resources

The
Company’s objective in managing capital, consisting of shareholders’ equity, with cash and cash equivalents and restricted
cash equivalents being its primary components, is to ensure sufficient liquidity to finance its manufacturing operations, R& D costs,
selling, general and administrative expenses and working capital requirements. Historically, the Company has raised capital via public
and private equity offerings and issuances as its primary source of liquidity. The capital management objective of the Company remains
the same as that in previous periods. The policy on dividends is to retain cash to keep funds available to finance the activities required
to advance the Company’s product development portfolio and to pursue appropriate commercial opportunities as they may arise. The
Company is not subject to any capital requirements imposed by any regulators or by any other external source.

Cash
flows

The
following table shows a summary of our consolidated cash flows for the periods indicated:

  (in thousands of US dollars)                                    Three months ended                                           Twelve months ended                          
                                                                  December 31,                                                 December 31,                                 
                                                                  2024                                                         2023                                         
                                                                  $                                                            $                                            
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash and cash equivalents – Beginning of period                                         19,998       8,364        6,678                               10,190       6,157  
  Net cash provided by (used in) operating activities                                     (2,999      (1,180      (14,568                               (2,582       5,229  
  Net cash used in financing activities                                                     (202         (78         (588                                 (357        (267  
  Net cash provided by (used in) investing activities                                       (316        (587       25,083                                 (730        (304  
  Effect of exchange rate changes on cash & cash equivalents                                 (88         159         (212