Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 77

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 77
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 and is investigating all strategic options for the macimorelin
assets.

Consequently,
management has carried out an impairment test. The recoverable amount of the macimorelin patent intangible assets was estimated based
on the present value of the future cash flows expected to be derived from the macimorelin patent intangible assets (value in use), assuming
that the regulatory approval is delayed indefinitely. Accordingly, the recoverable amount of both the macimorelin adult and child patent
intangible assets were estimated to be nil and a $3,195 impairment was recorded during the year ended December 31, 2024.

Impairment
of property and equipment

During
the year ended December 31, 2024, the Company tested certain manufacturing equipment and leasehold improvements not in use for impairment.
Due to the equipment being idle and a subsequent change in plans for its commissioning, the Company performed an impairment test. The
Company recognized an impairment loss of $1,061 as a result of a significant decline in the market value of the equipment. The recoverable
amount of the equipment was determined to be $430 based on its fair value less costs to sell using comparables and market data. The fair
value measurement was categorized as a Level 3 fair value based on the inputs in the valuation technique used.

Net
other income (costs)

For
the three-month period ended December 31, 2024, our net other income was $0.8 million as compared to $0.1 million for the three-month
period ended December 31, 2023, an increase of $0.7 million. This was primarily attributable to the change in fair value of warrant and
DSU liabilities in the amount of $0.6 million and an increase in gains due to changes in foreign currency of $0.1 million.

Net
other income for the twelve-month period ended December 31, 2024, was $3.1 million as compared to $0.3 million for the same period in
2023, an increase of $2.8 million. This was primarily attributable to the change in fair value of warrant and DSU liabilities in the
amount of $2.6 million and an increase of $0.2 million in other income and gains due to changes in foreign currency.

  56  

Net
other income for the twelve-month period ended December 31, 2023 was $0.3 million as compared to $0.2 million for the same