Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 74

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 74
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 -           -        0  
  Total cost of sales                                                                4,205       6,016      (1,811      (30  
  Gross Margin                                                                       2,938       8,556      (5,618      (66  
  Gross Margin %                                                                        41          59                       

Our
total revenue for the twelve-month period ended December 31, 2023, was $7.1 million as compared to 14.5 million for the same period in
2022, a decrease of $7.4 million. This decrease was primarily due to lower sales of the Company’s flagship products, avenanthramides,
beta glucan, as well as lower sales of oat oil. Cost of sales for the twelve-month period ended December 31, 2023, decreased by $1.8
million, primarily due to the lower sales volumes during the period.

Research
and development expenses

The
following table summarizes our research and development expenses incurred during the periods indicated:

  (in thousands of US dollars, except percentages)      Three months ended December 31,                                          
                                                        2024                                                                     
                                                        $                                                                        
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Direct research and development expenses:                                                                                      
  Avenanthramides for inflammation-based diseases                                              548      204        344      169  
  Macimorelin pediatric DETECT-trial                                                           694        -        694      100  
  Investment tax credits                                                                       737        -        737      100  
  Other programs                                                                               201       24        177      738  
  Sub total                                                                                  2,180      228      1,952      856  
  Employee-related expenses                                                                    670      255        415      163  
  Facilities, depreciation, and other expenses                                                  63        7         56      800  
  Total                                                                                      2,913      490      2,423      494  

  53  

Our
total research and development expenses for the three-month period ended December 31, 2024, were $2.9 million as compared to $0.5 million
for the same period in 2023, an increase of $2.4 million. This increase was primarily due to:

  Increased                                                                                    
  Increased                                                                                    
  A                                                                                            
  Increases                                                                                    

  (in thousands of US dollars, except