Company Formation and Structure - COSCIENS Biopharma Inc. was formed following the all-stock merger of Aeterna Zentaris Inc. and Ceapro Inc. on June 3, 2024, with the name change effective August 6, 2024[232][249]. - The merger resulted in former shareholders of Ceapro and Aeterna each owning approximately 50% of the common shares on a fully diluted basis[246]. - The Company reported that its common shares are listed on both Nasdaq and TSX under the symbol "CSCI"[233]. Financial Performance - Total revenue for the three-month period ended December 31, 2024, was $3.3 million, a 174% increase from $1.2 million in the same period in 2023[269]. - Total revenue for the twelve-month period ended December 31, 2024, was $9.6 million, a 34% increase from $7.1 million in 2023[270]. - Gross margin for the three-month period ended December 31, 2024, was $2.0 million, representing a 1,294% increase from $0.1 million in the same period in 2023[269]. - Gross margin for the twelve-month period ended December 31, 2024, was $4.7 million, a 61% increase from $2.9 million in 2023[270]. - The company reported a net loss of $6.7 million for the three months ended December 31, 2024, compared to a net loss of $1.6 million in the same period in 2023[268]. - Total revenue for the twelve-month period ended December 31, 2023, was $7.1 million, a decrease of $7.4 million or 51% compared to $14.5 million in 2022[272]. - Gross margin for the twelve-month period ended December 31, 2023, was $2.9 million, representing a gross margin percentage of 41%, down from 59% in 2022[272]. - Consolidated net loss for the three-month period ended December 31, 2024, was $6.7 million, compared to a net loss of $1.6 million in the same period in 2023, representing an increase of $5.1 million[290]. - The company recorded a $3.195 million impairment on macimorelin patent intangible assets during the year ended December 31, 2024, due to the failure of the Phase 3 DETECT-trial[283]. - Impairment loss of $1.061 million was recognized for certain manufacturing equipment and leasehold improvements during the year ended December 31, 2024[284]. - Net other income for the twelve-month period ended December 31, 2024, was $3.1 million, an increase of $2.8 million compared to $0.3 million in 2023[286]. Research and Development - The Phase 3 DETECT-trial for macimorelin failed to meet its primary endpoints, leading to a strategic review and discontinuation of investment in related pre-clinical programs[244]. - The Company has initiated a strategic review of its pipeline, including exploring potential divestment of macimorelin[244]. - Avenanthramides are being developed for potential applications in inflammation-based diseases, with a Phase 1 safety study initiated in November 2023[266]. - The company has established a clinical and pre-clinical development pipeline for pharmaceutical therapeutic assets addressing unmet medical needs[262]. - The company made a strategic decision to discontinue its AIM Biological, ALS, and Delayed Clearance Parathyroid Hormone programs due to challenging timelines and costs[263]. - Direct research and development expenses for avenanthramides for inflammation-based diseases increased by 274% to $2.149 million for the twelve-month period ended December 31, 2024, compared to $0.575 million in 2023[274]. - Research and development expenses for the three-month period ended December 31, 2024, were $2.9 million, an increase of $2.4 million or 494% compared to $0.5 million in 2023[274]. - Research and development costs rose by $6.3 million primarily due to increased costs associated with the avenanthramides and DETECT clinical trials[291]. Strategic Initiatives - COSCIENS focuses on the extraction and commercialization of active ingredients, particularly oat beta glucan and avenanthramides, which are used in various cosmetic and personal care products[243]. - The company is targeting the commercial launch of a chewable oat beta glucan product for cholesterol reduction in the first half of 2025[256]. - The company commenced a collaboration with NATEX Prozesstechnologie GesmbH to scale up PGX Technology, expected to complete in Q2 2025 in Austria[254]. - The Company’s proprietary PGX technology is aimed at generating high-value yields of active ingredients from natural resources for use in various product markets[243]. Management and Governance - Management is actively seeking a new President and CEO to lead COSCIENS forward following the initial integration of the merger[251]. Financial Position and Cash Flow - Cash and cash equivalents at the end of the period were $16,393,000, up from $6,678,000 at the end of December 2023[295]. - Total assets increased to $35,070,000 as of December 31, 2024, compared to $23,745,000 as of December 31, 2023[295]. - The company reported a net cash used in operating activities of $(14,568,000) for the twelve months ended December 31, 2024, compared to $(2,582,000) for the same period in 2023[298]. - Cash provided by investing activities totaled $25,083,000 for the year ended December 31, 2024, compared to cash used of $(730,000) in the same period in 2023[301]. - The company had an accumulated deficit of $12,100,000 and a net loss of $15,300,000 as of December 31, 2024[306]. - The company plans to finance future operations primarily through product sales and existing cash on hand, which is expected to be sufficient for at least the next 12 months[306]. Risks and Uncertainties - The Company has noted risks that may materially affect its business, including those described in the "Risk Factors" section of the Annual Report[315]. - The Company is exposed to foreign exchange risk due to investments in foreign operations with a functional currency of the Canadian Dollar[588]. - The Company manages liquidity risk by monitoring rolling forecasts of cash and cash equivalents based on expected cash flows[586]. - Credit risk exposure is primarily related to financial assets at amortized cost, with ongoing credit reviews performed for all customers[583]. - The Company has provided for all outstanding and unpaid amounts relating to its operations as of December 31, 2024[583]. - The financial assets at amortized cost include cash and cash equivalents, trade and other receivables, and restricted cash equivalents[585]. - One counterparty comprised 75% of total receivables as of December 31, 2024, compared to 40% in 2023, with no amounts past due[582]. - The Company does not have any interests in special purpose entities or off-balance sheet arrangements as of December 31, 2024[314].

TORONTO, ONTARIO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- COSCIENS Biopharma Inc. (formerly Aeterna Zentaris Inc.) (NASDAQ:AEZS) (TSX:AEZS) ("COSCIENS" or the "Company"), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products and active ingredients for healthcare and cosmetics industries, today announces that the Company's name has been changed from "Aeterna Zentaris Inc." to "COSCIENS Biopharma Inc.", effective as of August 6, 2024 ( ...

Core Points - COSCIENS Biopharma Inc. has officially changed its name from Aeterna Zentaris Inc. effective August 6, 2024 [1] - The company's common shares will begin trading under the new symbol "CSCI" on the TSX and NASDAQ starting August 9, 2024, ceasing to trade under the previous symbol "AEZS" [1][2] - The name change was approved by shareholders at the annual general meeting held on July 16, 2024, and is subject to final approval from the TSX and NASDAQ [2] Company Overview - COSCIENS is a specialty biopharmaceutical company focused on developing and commercializing a diverse portfolio of pharmaceutical and diagnostic products, addressing significant unmet medical needs [4] - One of the lead products is macimorelin (Macrilen; Ghryvelin), the first and only FDA and European Commission approved oral test for diagnosing adult growth hormone deficiency [4] - The company is also developing therapeutic assets and proprietary extraction technology for producing active ingredients from renewable plant resources, which are used in cosmeceutical products [4] Trading Information - The new CUSIP number for the common shares is 22112H101, and the new ISIN is CA22112H1010; for the warrants, the new CUSIP is 22112H119 and the new ISIN is CA22112H1192 [3]

Core Points - Aeterna Zentaris Inc. held its virtual annual general and special meeting of shareholders (AGSM) on July 16, 2024, where voting results for the election of directors were announced [1] - The company will change its name to COSCIENS Biopharma Inc. in the coming weeks following the approval of the Name Change Resolution at the AGSM [3] Voting Results - Ronald W. Miller was re-elected as Chair with 668,451 votes (84.64% for) [2] - Carolyn Egbert received 491,197 votes (62.20% for) but faced significant opposition with 298,534 votes against [2] - Geneviève Foster was re-elected with 667,668 votes (84.54% for) [2] - Gilles Gagnon received only 404,154 votes (51.18% for), indicating a close call for his re-election [2] - Ulrich Kosciessa was re-elected with 638,832 votes (80.89% for) [2] - William Li was re-elected with 670,416 votes (84.89% for) [2] - Dennis Turpin, despite not receiving a majority (300,528 votes or 38.05% for), will continue on the board for 90 days to ensure a smooth transition [2] Company Developments - Peter G. Edwards resigned prior to the AGSM, leading to a reduction in the number of nominated directors from eight to seven [3] - Deloitte LLP was appointed as the new auditor for the company [3] - The company is classified as an "Eligible Interlisted Issuer," allowing it to bypass certain Canadian requirements regarding its long-term incentive plan [4] Company Overview - Aeterna Zentaris is a specialty biopharmaceutical company focused on developing and commercializing pharmaceutical and diagnostic products, including macimorelin, the first FDA and European Commission approved oral test for adult growth hormone deficiency [5] - The company also develops active ingredients from renewable plant resources for use in cosmeceutical products [5] - Aeterna is listed on both NASDAQ and the Toronto Stock Exchange under the ticker symbol "AEZS" [6]

TORONTO, ONTARIO, July 16, 2024 (GLOBE NEWSWIRE) -- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) ("Aeterna" or the "Company"), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products and active ingredients for healthcare and cosmetics industries, today announced the voting results on the items of business considered at the virtual annual general and special meeting of shareholders of the Company (the "AGSM") held today. Resul ...

Company expects to report top-line data and complete study results in Q3 2024 TORONTO, ONTARIO, June 13, 2024 (GLOBE NEWSWIRE) -- Aeterna Zentaris Inc. (NASDAQ:AEZS) (TSX:AEZS) ("Aeterna" or the "Company"), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products and active ingredients for healthcare and cosmetics industries, today announced the clinical completion of its Phase 3 safety and efficacy study AEZS-130-P02 (the "DETECT ...

Company expects to report top-line data and complete study results in Q3 2024 TORONTO, ONTARIO, June 13, 2024 (GLOBE NEWSWIRE) -- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (“Aeterna” or the “Company”), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products and active ingredients for healthcare and cosmetics industries, today announced the clinical completion of its Phase 3 safety and efficacy study AEZS-130-P02 (the "DETE ...

Core Viewpoint - Aeterna Zentaris Inc. and Ceapro Inc. have successfully completed an all-stock merger, creating a diversified biopharmaceutical company expected to generate long-term value for shareholders [1][2]. Group 1: Merger Details - The merger was officially announced on December 14, 2023, and has now been completed, marking a significant milestone for both companies [1]. - The new combined company aims to leverage shared resources and competencies to enhance its product development pipeline and revenue-generating capabilities [1][2]. Group 2: Financial and Operational Benefits - The merger is expected to provide greater potential for stable cash flow, which will support research and development of high-return pharmaceutical products [1]. - The company currently generates revenue from two main active ingredients, oat beta glucan and avenanthramides, which will be utilized to fund the development of new products [1]. - A diversified product pipeline is anticipated to lower risk and enhance the company's ability to focus resources effectively [1][2]. Group 3: Expanded Capabilities - The combined company will benefit from expanded pharmaceutical research and development capabilities, with a talented team bringing deep expertise to advance the development pipeline [2]. - The operational presence in both North America and Europe will allow the company to optimize its focus on the North American biotechnology market [2]. Group 4: Leadership and Governance - Following the merger, Aeterna's board of directors now consists of eight members, including Ronald W. Miller as Chair and Gilles Gagnon as CEO [3]. - The executive leadership team is committed to prioritizing the development pipeline to maximize potential for the company and its stakeholders [2]. Group 5: Shareholder Information - Former Ceapro shareholders will receive 0.02360 of an Aeterna share for each Ceapro share held, with specific instructions provided for the exchange process [6][7]. - Ceapro shares are expected to be delisted from the TSX Venture Exchange within five business days following the merger [5].

TORONTO, ONTARIO, May 29, 2024 (GLOBE NEWSWIRE) -- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZS) (“Aeterna” or the “Company”), a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products, today announced that it is making an application for an order pursuant to section 133(3) of the Canada Business Corporations Act extending the time for the Company to call and hold its annual meeting of its shareholders to a date that is not late ...

Core Viewpoint - Aeterna Zentaris Inc. is seeking a court order to extend the deadline for holding its annual shareholder meeting to no later than July 31, 2024, to allow former Ceapro Inc. shareholders to participate in the meeting and vote on key matters related to the upcoming merger [1][2]. Group 1: Court Application and Meeting Details - Aeterna has filed an application with the Ontario Superior Court of Justice to extend the time for calling and holding its annual meeting [1][2]. - The court hearing for the application is scheduled for June 3, 2024, at 11:00 a.m. via videoconference [1]. - The Toronto Stock Exchange has granted Aeterna an extension to hold its annual meeting on or before July 31, 2024 [3]. Group 2: Transaction with Ceapro Inc. - The extension is sought to complete the previously announced transaction with Ceapro Inc. before the annual meeting [2]. - Shareholders will vote on the new name and director nominees for the combined company during the annual meeting [2]. - The transaction is expected to close on or about June 3, 2024, subject to obtaining all required approvals [2]. Group 3: Company Overview - Aeterna is a specialty biopharmaceutical company focused on developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products [4]. - The company's lead product, macimorelin, is the first and only FDA and European Commission approved oral test for diagnosing adult growth hormone deficiency [4]. - Aeterna is also developing therapeutic assets for various conditions, including neuromyelitis optica spectrum disorder, Parkinson's disease, hypoparathyroidism, and amyotrophic lateral sclerosis [5].