Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 252

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 18
Chunk 252
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ated Financial Statements As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022 
(in thousands of US dollars, except share and per share data and where otherwise noted) 
The amount of deductible temporary differences and unused tax losses for which no deferred tax asset is recognized in the balance sheet is as follows:
  Schedule of deductible temporary differences
 
                               December 31,                          
                           2024                    2023              
                               $                        $            
Canada                              142,926                  6,958   
Germany                             217,443                  -       
United States                         5,634                  -       
Total Deferred Tax Asset            366,003                  6,958   
 
The non-capital loss carryforwards in Canada expire between 2026 and 2043, the United States expire between 2028 and 2042, and there is no expiry date on the losses in Germany. As of December 31, 2024, the Company also has unrecognized non-refundable Canadian Federal income tax credits of $1,818, which expire between 2031 and 2043. Deferred tax assets and non-refundable investment tax credits have not been recognized in respect of these items because it is not probable that future taxable profit will be available against which the Company and its subsidiaries can utilize the benefits.
 

22.     Capital  
      disclosures
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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, research and development 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, as discussed in note 23. 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.
 
 
F-39
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COSCIENS Biopharma Inc.
 Notes to Consolidated Financial Statements As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022 
(in thousands