Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 246

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 18
Chunk 246
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 recognized as Employee future benefits                              11,647                            87                     11,734    
Amounts recognized:                                                                                                                               
In net loss                                                                       297                        (9       )                    288    
Actuarial loss on defined benefit plans in other comprehensive loss            (1,157   )                    -                          (1,157   )

F-30
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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) 
The fair values of each major class of the Company’s proportionate share of the multi-employer pension plan assets are as follows:
  Summary of proportionate share of multi-employer pension plan assets
 
                                            December 31,    
------------------------------------------------------------
                                      2024                  
                                                           $
Cash and cash equivalents (level 1)                    30   
Debt instruments (level 1)                          6,664   
Equity instruments (level 1)                        1,022   
Real estate (level 3)                               2,256   
Other (level 3)                                       697   
Total of pension plan assets                       10,669   
 
The significant actuarial assumptions applied to determine the Company’s accrued benefit obligations are as follows:
 
 Summary of actuarial assumptions applied to benefit obligations
 
                                       Pension Benefit Plans                  Other benefit plans        
---------------------------------------------------------------------------------------------------------
                                       Years ended December 31,           Years ended December 31,       
Actuarial assumptions           2024                                  2024                               
                                                              %           %                              
Discount rate                                              3.40   %       3.40                          %
Pension benefits increase                                  2.00   %                      -               
Rate of compensation increase                              2.50   %       2.50                          %
 
Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and experience in Germany. These assumptions translate into an average remaining life expectancy in years for a pensioner retiring at age 65:
 
 Summary of pensioner retiring age
 
                                                     December 31, 
------------------------------------------------------------------
                                               2024               
                                                             Years
Retiring at the end of the reporting period:                      
Male                                                            21
Female                                                          24

F-31
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COSCIENS Biopharma Inc.
 Notes to Consolidated Financial Statements As of December 31,