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COSCIENS Biopharma Inc. Reports Fourth Quarter and Full Year 2024 Financial Results and Provides a Corporate Update
Fully repositioned as a pure-play natural-based product company following strategic review and pi...
About this update from Cosciens Biopharma Inc.
[{"type":"text","content":"COSCIENS Biopharma Inc. Reports Fourth Quarter and Full Year 2024 Financial Results and Provides a Corporate Update\n\n\n\n\n Fully repositioned as a pure-play natural-based product company following strategic review and pipeline prioritization\n \n\n\n\n Ongoing streamlined efficiencies and cost cutting measures taken to refine operations and development pathway forward; Company ended the quarter with US$16.4 million in cash\n \n\n\n\n Revenues of US$9.6M vs US$7.1M in 2023, a 35.2% increase YOY\n \n\n\n\n TORONTO, ONTARIO, April 09, 2025 (GLOBE NEWSWIRE) --\n \n COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI) (“COSCIENS” or the “Company”), a Life Science company which develops and commercializes a diversified portfolio of cosmeceutical, nutraceutical and pharmaceutical products, today reported its financial and operating results for the fourth quarter and full year ended December 31, 2024 and provided a corporate update.\n \n\n “2024 was a transformative year for COSCIENS Biopharma. Since the completion of the merger, we have developed a strategic roadmap, established a prioritized pipeline and consolidated financials. All of these efforts align with our strategic imperatives of reducing the expected combined cash burn rate of our two pre-merger businesses while retaining and advancing the most promising programs or products from the legacy organizations.\n \n\n Following this extensive work and considering the negative topline results of the Phase 3 DETECT-Trial for macimorelin, the Company has stopped investing in pre-clinical programs and into any development program with macimorelin for which we are exploring and validating various strategic options including the potential divestment of this asset. Looking ahead, COSCIENS is emerging as a pure-play natural-based products life science company and we believe the stage is set to propel the company to the next phase of growth,” stated\n \n Gilles Gagnon, M.Sc., MBA, President and CEO\n \n of COSCIENS.\n \n\n\n\n Development Projects Update\n \n\n\n\n\n Pharmaceuticals:\n \n\n\n\n\n Avenanthramides Tablets (Avs) in Clinical Development as an Anti-Inflammatory Product:\n \n\n\n Announced successful Phase 1 results. 72 subjects tested. No significant clinical adverse event observed from ascending doses ranging from 30 mg to 960 mg in P...