Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 228

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 18
Chunk 228
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 first-in-first-out cost formula and work-in-progress, and finished goods are assigned costs by using a weighted average cost formula.
 
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
 
 
F-15
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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 of US dollars, except share and per share data and where otherwise noted) 
Property and equipment
 
Property and equipment are recorded at cost less accumulated depreciation and any accumulated impairment losses. Depreciation methods and rates are calculated as follows:
  Schedule of depreciation methods and rates of property and equipment
 
  Manufacturing                                            5                                       
    equipment                                   - 25 years straight-line                           
---------------------------------------------------------------------------------------------------
Office                                                                                          20%
equipment                                                                         declining balance
Computer                                                                                        30%
equipment                                                                         declining balance
Leasehold                                                                                      over
improvements        the lesser of the term of the lease and the useful life of the underlying asset
Right-of-use                                                                                   over
asset – buildings   the lesser of the term of the lease and the useful life of the underlying asset
 
Cost for property and equipment includes the purchase price, import duties, non-refundable taxes, and any other costs directly attributable to bringing the asset into the location and condition to be capable of operating. Significant parts of an item of property and equipment with different useful lives are recognized and depreciated separately. Depreciation commences when the asset is available for use. The asset’s residual values, useful lives, and method of depreciation are reviewed at each financial year-end and adjustments are accounted for prospectively if appropriate. An item of property and equipment is derecognized on disposal or when no future economic benefits are expected from its use. Any gain or loss arising on derecognition of an asset is included in profit or loss in the period the asset is derecognized.
 
Intangible assets
 
Intangible assets, consisting of patents, that are acquired by the Company and have finite useful lives are measured at cost less accumulated amortization and any accumulated impairment losses. Patents are amortized on their respective remaining patent life and are expiring between 2027 and 2041.
 
Impairment of non-financial assets
 
Items of property and equipment and identifiable intangible assets with finite lives that