Core Points - COSCIENS Biopharma Inc. has appointed Peter H. Puccetti as Interim Chief Executive Officer, succeeding Anna Biehn [1][2] - The leadership transition is part of the company's efforts to reduce costs and streamline its organizational structure while aligning resources with strategic priorities [2] - Puccetti aims to strengthen operational performance and drive shareholder value in his new role [2] Company Overview - COSCIENS is a life science company focused on natural ingredients and pharmaceutical solutions, with a diverse portfolio [3] - The company develops natural, plant-based active ingredients and commercializes pharmaceutical and diagnostic products [3] - COSCIENS' lead pharmaceutical product, Macimorelin, is the first FDA and EMA approved oral test for diagnosing adult growth hormone deficiency [3] Stock Information - COSCIENS' common shares are listed on the Toronto Stock Exchange under the symbol "CSCI" and have a trading symbol "CSCIF" for the OTC market in the United States [4]

Core Insights - COSCIENS Biopharma Inc. has voluntarily delisted from Nasdaq while retaining its listing on the TSX, marking a strategic shift to reduce public reporting obligations in the U.S. [4][5] - The company has successfully implemented a zero-based budgeting initiative, resulting in a 59% reduction in operating expenses compared to Q3 2024, leading to significantly lower cash outflows [3][15] - The gross margins improved by 700 basis points in Q3 2025 due to cost-cutting measures and operational improvements [2][3] Financial Performance - For Q3 2025, COSCIENS reported a consolidated net loss of $1.8 million, a decrease from a net loss of $5.8 million in Q3 2024, reflecting a $4.0 million improvement [15][18] - Total revenue for Q3 2025 was $1.5 million, down from $1.9 million in the same period in 2024, primarily due to decreased sales in key product lines [16][19] - Operating expenses for Q3 2025 were $2.9 million, significantly lower than $7.3 million in Q3 2024, driven by reductions in research and development costs and other expenses [17][20] Strategic Developments - The company has suspended its Juvente cosmeceuticals line due to limited success in e-commerce channels, focusing instead on core business areas [8] - COSCIENS is evaluating its pharmaceutical products, including Macrilen, which did not meet primary endpoints in a recent trial but still provides insights for future development [12] - The company is exploring new market opportunities for its active ingredients and has completed construction of its PGX technology units in Edmonton and Austria [10][11] Corporate Actions - Following the Nasdaq delisting, COSCIENS has applied for quotation on the OTCQB Venture Market, although approval is not guaranteed [4] - The company plans to file a Form 15-F with the SEC to terminate its U.S. reporting obligations, which would take effect 90 days after filing [4][5] - Management is focused on enhancing operational efficiency and reducing costs to maintain competitiveness in the current economic environment [5]