Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 76

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 76
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 and administrative expenses for the twelve-month period ended December 31, 2024, were $10.4 million as compared
to $5.5 million for the same period in 2023, an increase of $4.9 million. This was primarily attributable due to the acquisition of Aeterna
as described in the plan of arrangement section above and resulted with:

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  55  

  (in thousands of US dollars, except percentages)        Twelve months ended December 31,                                              
                                                          2023                                                                          
                                                          $                                                                             
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Selling, general and administrative expenses:                                                                                         
  Salaries & benefits                                                                           1,850      1,140        710         62  
  Insurance                                                                                       170        161          9          6  
  Professional fees                                                                             2,074        106      1,968      1,857  
  Other office & general expenses                                                               1,433      1,458        (25         (2  
  Total selling, general and administrative expenses                                            5,527      2,865      2,662         93  

Our
total selling, general and administrative expenses for the twelve-month period ended December 31, 2023, were $5.5 million as compared
to $2.8 million for the same period in 2023, an increase of $2.7 million. This was primarily attributable to the preparation of the acquisition
of Aeterna as described in the plan of arrangement section above and resulted with:

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Impairment
of intangible assets

On
June 3, 2024, the Company acquired intangible assets of $3,352 through the Transaction. On August 27, 2024, the Company announced that
the Phase 3 DETECT-trial evaluating macimorelin for the diagnosis of CGHD had failed to meet its primary endpoints according to the definitions
in the study protocol and recorded a partial impairment of the patent intangible assets as of September 30, 2024. Based on the results
of the study and further strategic evaluation of the Company’s product portfolio as of December 31, 2024, the Company has decided
to cease any future investments in macimorelin for the diagnosis of CGHD