COSCIENS Biopharma Inc. - CSCI STOCK NEWS

COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI), a specialty biopharmaceutical company, has announced a change to its Board of Directors. Carolyn Egbert has resigned from the Board, effective immediately. Egbert served on the Board for twelve years, including eight years as Chair. The company has decided to streamline its board structure, moving forward with six members, including five independent directors. This decision aligns more closely with industry standards for companies at COSCIENS' stage. Ronald Miller, the current Chair of the Board, expressed gratitude for Egbert's dedicated service and valuable contributions to the company, previously known as Aeterna Zentaris.

COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI), a specialty biopharmaceutical company, has appointed Pierre Labbé to its board of directors and as Chair of the Company's Audit Committee, effective October 1, 2024. This appointment fills the vacancy created by the resignation of Dennis Turpin. Mr. Labbé brings over 30 years of financial leadership experience to COSCIENS, currently serving as Executive Vice-President, Finance of Fonds QScale S.E.C.

Mr. Labbé's extensive experience includes roles as CFO at IMV Inc., LeddarTech Inc., and Medicago Inc. He has been instrumental in financing and M&A transactions exceeding $1 billion. Additionally, he serves as a director of Osisko Gold Royalties since 2015. Mr. Labbé holds a Bachelor's Degree in Business Administration, is a Chartered Professional Accountant, and has the ICD.D designation from the Institute of Corporate Directors.

COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI) has provided an update on its merger integration with Ceapro Inc., including management changes and development program advancements. CEO Gilles Gagnon announced plans for leadership transition, with a search for a new President and CEO underway. The company is implementing cost reduction measures, including eliminating positions and reducing spend on certain programs.

COSCIENS is reviewing results from the Phase 3 DETECT-Trial of macimorelin for childhood growth hormone deficiency and has discontinued the ALS research program. Updates on development projects include:

• Completion of the Single Ascending Dose arm for Avenanthramides tablets
• Publication of pre-clinical studies on yeast beta glucan
• Presentation of AIM Biologicals for Parkinson's Disease at a European congress
• Development of yeast beta glucan powder as an immune booster
• Positive pre-clinical data on Avenanthramides and Oat beta glucan for wound healing
• Progress on PGX technology scale-up in Edmonton and Austria

COSCIENS Biopharma Inc. (NASDAQ: CSCI) announced top-line results for its Phase 3 DETECT-trial evaluating macimorelin for diagnosing Childhood Onset Growth Hormone Deficiency (CGHD). The study did not meet its primary efficacy endpoint as defined in the protocol, despite macimorelin demonstrating its ability to stimulate growth hormone release. The trial enrolled 102 subjects aged 3 to 17 years across multiple countries.

Key findings include:

• An unexpectedly high 'optimal' growth hormone cut-off point of 25.59 ng/mL
• Potential high false positive rate from comparator tests (arginine and clonidine)
• Confirmation of macimorelin's safety in the pediatric population

The company plans further analysis of the results and discussions with health authorities to determine the next steps for macimorelin in CGHD diagnosis.

COSCIENS Biopharma Inc. (NASDAQ: CSCI) reported its Q2 2024 financial results, highlighting a net loss of $1.4 million ($0.64 per share) compared to $0.9 million ($0.47 per share) in Q2 2023. The company ended the quarter with $27.8 million in cash. Total revenue increased to $2.3 million from $1.4 million in the same period last year, driven by higher sales of Avenanthramides, Oat Beta Glucan, and Oat Oil.

Operating expenses rose to $4.5 million from $1.9 million, primarily due to increased R&D costs and administrative expenses related to the recent Aeterna-Ceapro acquisition. The company expects to announce top-line data from its DETECT-trial evaluating macimorelin for childhood-onset growth hormone deficiency diagnosis in Q3 2024.