Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 38

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 3
Chunk 38
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 our competitors’ products      
    in the U.S., Canada and other countries;                                                              
●   the potential use and effects of tariffs could materially impact our costs and revenues, as well      
    as the macroeconomic framework in which we operate;                                                   
●   developments or disputes concerning patent or proprietary rights;                                     
●   actual or anticipated fluctuations in our revenues or expenses;                                       
●   general market conditions and fluctuations for the emerging growth and biopharmaceutical market       
    sectors; and                                                                                          
●   economic conditions in the U.S. or abroad, including the instability due to pandemics, armed conflicts
    or other events.                                                                                      
 
Our listing on both the NASDAQ and the TSX may increase price volatility due to various factors, including different ability to buy or sell our Common Shares, different market conditions in different capital markets, and different trading volumes. In addition, low trading volume may increase the price volatility of our Common Shares. A thin trading market could cause the share price of our Common Shares to fluctuate significantly more than the stock market as a whole.
 
We do not intend to pay dividends in the near future.
 
To date, we have not declared or paid any dividends on our Common Shares. As a result, the return on an investment in our Common Shares, or any of our other securities, will depend upon any future appreciation in value. There is no guarantee that our Common Shares or any of our other securities will appreciate in value or even maintain the price at which shareholders have purchased them.
 
Future issuances of securities and hedging activities may depress the trading price of our Common Shares.
 
Any additional or future issuance of securities or convertible securities, including the issuance of securities upon the exercise of stock options and upon the exercise of warrants or other convertible securities or securities pursuant to which Common Shares are issuable, could dilute the interests of our existing shareholders, and could substantially decrease the trading share price of our Common Shares.
 
We may issue equity securities in the future for a number of reasons, including to finance our operations and business strategy, to satisfy our obligations upon the exercise of options or warrants, or for other reasons. Our stock option plans generally permit us to have outstanding, at any given time, stock options that are exercisable for a maximum number of Common Shares equal to 11.4% of all then issued and outstanding Common Shares.
 
In addition, the share price of our Common Shares could also be affected by possible sales of securities by investors who view other investment vehicles as more attractive