Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 7

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 3
Chunk 7
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 serve, our operations and the market price of our Common Shares.
 
Investments in companies in our industries are generally considered to be speculative in nature.
 
The prospects for companies operating in the cosmeceutical, nutraceutical and biopharmaceutical industries are uncertain, given the very nature of the industry, in which companies often experience lengthy development time, extensive capital requirements, rapid technological developments and a high degree of competition based primarily on scientific and technological factors. These factors include the availability to obtain patent and other protection for technology and products, the ability to commercialize technological developments and the ability to obtain government approval for testing, manufacturing and marketing. Accordingly, investments in cosmeceutical, nutraceutical or biopharmaceutical companies should be considered to be speculative assets.
 
Our revenues and expenses may fluctuate significantly, and any failure to meet financial expectations may disappoint securities analysts or investors and result in a decline in the price or the value of our Common Shares or other securities.
 
We have a history of operating losses and are currently dependent on one distribution partner for over 85% of our revenues. Additionally, our revenues and expenses have fluctuated in the past and may continue to do so in the future. These fluctuations could cause our share price of Common Shares or the value of our other securities to decline. Some of the factors that could cause our revenues and expenses to fluctuate include, but are not limited to, the following:
 

●                  the addition of additional customers or distribution partners for our               
    oat-based pipeline products, including oat-beta glucan, avenanthramides and beta glucan from yeast;
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●   fluctuations in the demand from Symrise AG or their underlying customers                           
    for our oat-based pipeline products;                                                               
●   the development and successful commercialization for new oat-based                                 
    products, including related marketing and launch costs;                                            
●   the timing and willingness of any current or future collaborators to                               
    invest the resources necessary to commercialize Macrilen™ (macimorelin);                           
●   our decision to cease investment in macimorelin for the diagnosis of                               
    CGHD;                                                                                              
●   the timing of regulatory submissions and approvals;                                                
●   the nature and timing of licensing fee revenues;                                                   
●   the outcome of future litigation;                                                                  
●   foreign currency fluctuations;                                                                     
●   the timing of the achievement and the receipt of milestone payments                                
    from current or future licensing partners; and                                                     
●   failure to enter into new or the