COSCIENS Biopharma Inc. Announces Possible Delay in Filing Year-End Reporting Documents
The Company continues to work diligently with its auditors to complete the Required Filings as soon as practicable, and will issue a news release once the Required Filings have been filed. The Company has made all efforts and allocated all available resources to the preparation, completion and filing of the Required Filings. The Company's auditors has also made significant efforts to complete its audit of the Required Filings within the prescribed timeframe.
As a precaution, the Company has applied to the Ontario Securities Commission, as principal regulator for the Company, for the imposition of a management cease trade order ("MCTO") under National Policy 12-23 - Management Cease Trade Orders ("NP 12-203") throughout the duration of a possible default.
There is no certainty that the MCTO will be granted if the Company is not able to meet the required filing deadline. The MCTO, if, as and when approved, will generally not affect the ability of persons who are not or have not been management of the Company to trade in its securities.
The Company confirms that, in the event an MCTO is granted, it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.
The potential delay in filing has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. The Company plans to file its Form 20-F as soon as practicable; however, no assurance can be given as to the definitive date on which such periodic report will be filed.
The Company confirms it is not subject to any insolvency proceeding and that other than its Required Filings, there is no other material information relating to its affairs that has not been generally disclosed.
Other than as disclosed herein, the Company is up to date in its filing obligations.
About COSCIENS Biopharma Inc.
COSCIENS is a life science company resulting from the merger of Aeterna Zentaris and Ceapro Inc. COSCIENS develops and commercializes a diversified portfolio of cosmeceutical, nutraceutical and pharmaceutical products. We are focused on leveraging our proprietary extraction technology, which is applied to the production of active ingredients from renewable plant resources currently used in cosmeceutical products (i.e., oat beta glucan and avenanthramides which are found in leading skincare product brands like Aveeno and Burt's Bees formulations) and being developed as potential nutraceuticals and/or pharmaceuticals.
The Company is listed on the Nasdaq Capital Market and the Toronto Stock Exchange, and trades on both exchanges under the ticker symbol "CSCI". For more information, please visit COSCIENS' website at www.cosciensbio.com.
Forward-Looking Statements
Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended, and "forward-looking information" under the provisions of Canadian securities laws. All statements, other than statements of historical fact, that address circumstances, events, activities, or developments that could or may or will occur are forward-looking statements. When used in this news release, words such as "anticipate", "assume", "believe", "could", "expect", "forecast", "future", "goal", "guidance", "intend", "likely", "may", "would" or the negative or comparable terminology as well as terms usually used in the future and the conditional are generally intended to identify forward-looking statements, although not all forward-looking statements include such words. Forward-looking statements in this news release include, but are not limited to, statements relating to: the potential delay in filing the Required Filings; the satisfactory resolution of issues that have led to the potential delay in filing the Required Filings; the issuance of an MCTO by the Ontario Securities Commission and the content of any MCTO, including its anticipated effects on the ability of securityholders to trade in our securities, as well as the possibility that an MCTO will not be issued; the Company's fulfillment of alternative information guidelines if an MCTO is granted; and the anticipated effects of the potential delay in filing on trading of the Company's securities on the Nasdaq Capital Market.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic, operational and other risks, uncertainties, contingencies and other factors, including those described below, which could cause actual results, performance or achievements of the combined Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements and, as such, undue reliance must not be placed on them.
Forward-looking statements involve known and unknown risks and uncertainties which include, among others: the combined Company's present and future business strategies; operations and performance within expected ranges; anticipated future cash flows; local and global economic conditions and the environment in which the combined Company operates; anticipated capital and operating costs; uncertainty in our revenue generation from our marketed products, product development and related clinical trials and validation studies; results from our avenanthramide product and other products under development may not be successful or may not support advancing the product; the failure of the DETECT-trial to achieve its primary endpoint in CGHD may impact the market for macimorelin (Macrilen®; Ghryvelin®) in AGHD and the existing relationships we have for that product; ability to raise capital and obtain financing to continue our currently planned operations; our now heavy dependence on sales by and revenue from our main distributor of our legacy Ceapro products and its customers, the continued availability of funds and resources to successfully commercialize our products; the ability to secure strategic partners for late stage development, marketing, and distribution of our products; our ability to enter into out-licensing, development, manufacturing, marketing and distribution agreements with other pharmaceutical companies and keep such agreements in effect; our ability to protect and enforce our patent portfolio and intellectual property; and our ability to continue to list our common shares on the Nasdaq Capital Market.
Issuer:
Gilles R. GagnonPresident & CEO+1 (780) 421-4555E: ggagnon@cosciensbio.com
Investor Contact:
Jenene ThomasJTC TeamT (US): +1 (908) 824-0775E: csci@jtcir.comSign in to access your portfolio
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
42 minutes ago
- Yahoo
US stocks end week strong as Nasdaq notches record. Gold also scores record high.
U.S. stocks closed higher on Friday, Aug. 8, as the tech-heavy Nasdaq scored a fresh record high on a mix of earnings, tariff and Federal Reserve personnel news. Hopes of a deal that ends the Russia-Ukraine war also boosted sentiment. President Donald Trump and Russia President Vladimir Putin could meet as early as next week, Bloomberg reports. Gold prices climbed to a record high on reports of a new and surprising Trump tariff on the yellow metal. Bitcoin and Ethereum also had a good week after Trump signed an executive order allowing cryptocurrency into 401(k) investments and nominated a Bitcoin supporter to take a temporary role as a Federal Reserve member. Separately, Trump reportedly is adding names to his list of potential replacements for Fed Chair Jerome Powell when his term ends in May. Reportedly, Trump is now also considering former St. Louis Fed President James Bullard and Marc Sumerlin, a former George W. Bush adviser. Earlier, Bloomberg reported that Fed Governor Christopher Waller was Trump's top pick for the job. Waller was one of two Fed members to vote against keeping rates steady at the Fed's last policy meeting. He felt the Fed should have cut rates. The blue-chip Dow closed up 0.47%, or 206.97 points, to 44,175.61; the broad S&P 500 added 0.78%, or 49.45 points, to 6,389.45 and the tech-laden Nasdaq gained 0.98%, or 207.32 points, to 21,450.02. All three major indexes bounced back this week to finish in the green. A double-digit jump in iPhone maker Apple's shares helped boost the S&P 500′s tech sector and the Nasdaq. The megacap tech stock had its best week since mid-2020. Apple said earlier in the week it planned to spend about $600 billion over four years in the U.S. Chief Markets Economist John Higgins at Capital Economics revised up its year-end S&P 500 outlook to 6,750 from 6,250 and his 2026-end forecast to 7,250 from 7,000. The benchmark 10-year Teasury yield edged up to 4.285%. Gold tariff Gold prices jumped to a record high after the Financial Times said the U.S. put a 39% reciprocal tariff on imports of one-kilo gold bars. This would hit refining hub Switzerland, the Financial Times reported, citing a letter from U.S. Customs and Border Protection. Other key refining hubs include Hong Kong and London, where gold is also trading at a discount to the U.S. market, Bloomberg said. This could cause trouble for U.S.-Switzerland trade talks. Switzerland has the highest country tariff among developed countries, and Swiss President Karin Keller-Sutter made an emergency trip to Washington this week to make a deal to reduce it. However, she was denied a meeting with Trump. By afternoon, though, the White House suggested it would issue a clarification on the tariff on gold bars. Gold prices slipped from their new record but still were last up 0.12% at $3,457.90 per ounce. Corporate news Burger chain Wendy's cut its full-year sales guidance after posting a bigger-than-expected quarterlydecline. Shares added 1.31%. Block reported second-quarter earnings per share that missed analysts' forecasts but boosted its full-year outlook. Shares fell 4.5%. Gen Digital topped estimates for its fiscal first quarter and raised its annual outlook. The stock rallied 7.71%. AMC Networks reported stronger-than-expected quarterly results. The stock jumped 8.83%. Gilead Sciences boosted its full-year outlook. Shares rose 8.28%. Natera reported stronger-than-expected second-quarter sales and lifted its full-year gross margin and revenue forecasts above Street views. Shares gained 7.7%. Sportswear market Under Armour warned its fiscal second-quarter results would come in below analysts' expectations. Its first-quarter sales topped forecasts, but its loss per share was wider than estimates. Shares tumbled 18.07%. Fannie Mae and Freddie Mac soared after the Wall Street Journal said Trump is preparing intial public offerings for each of the agencies as early as this year. The sales could raise around $30 billion and value the firms at roughly $500 billion or more together, the newspaper reported. Pinterest's second-quarter sales beat expectations, but earnings per share missed estimates. Current quarter revenue is expected to top forecasts. Shares slid 10.31%. Expedia topped second-quarter adjusted earnings per share expecations and lifted its full-year revenue guidance. Shares rose 4.08%. Rocket Lab reported record revenue in the second-quarter though its loss widened from a year ago. Shares edged up 1.09%. SoundHound posted a narrower-than-expected adjusted loss per share in the second quarter and sales topped estimates. The artificial intelligence voice company also lifted its full-year revenue guidance. Stock jumped 26.4%. Motorola posted better-than-expected results and raised annual guidance. It said it is working on mitigating tariff effects. Shares rose 1.87%. Trade Desk just topped second-quarter estimates and current quarter sales guidance. Shares slumped 38.61%. General Motors will continue buying electric vehicle batteries from China despite tariffs. Shares added 1.1%. Sweetgreen missed second-quarter estimates and lowered its annual outlook. Shares tumbled 23.06%. Flutter topped second-quarter forecasts and raised its full-year guidance. Shares slumped 8.32%. Microchip Technology's results in the first three months of its fiscal year beat forecasts and guidance for the current quarter was in line with estimates. Shares dropped 6.57%. Instacart's results beat forecasts in the second quarter. The grocery delivery company gave strong guidance, too. Shares added 3.68%. Nextdoor's slashing 12% of its workforce, or 67 jobs. Its chief financial officer also is stepping down. Shares rose 13.66%. Cryptocurrency Stephen Miran, chair of the Council of Economic Advisers and Trump's pick to serve the roughly six months remaining in the term of former Fed Governor Adriana Kugler, who resigned on Aug. 1., is a Bitcoin supporter. He has been a critic of the Fed and publicly posted supportive comments on social media. 'I think that crypto has a big role potentially to play in innovation and ushering in another Trump administration economic boom,' he previously stated. Bitcoin was last down 0.89% at $116,486.40. Ethereum hit a seven-month high and was last up 3.55% to $4,053.01. (This story was updated with new information.) Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning. This article originally appeared on USA TODAY: US stocks end up, with Nasdaq at record. Gold jumps on surprise tariff Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Here's Why Charter Communications (NASDAQ:CHTR) Is Weighed Down By Its Debt Load
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that Charter Communications, Inc. (NASDAQ:CHTR) does have debt on its balance sheet. But the real question is whether this debt is making the company risky. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Why Does Debt Bring Risk? Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. When we think about a company's use of debt, we first look at cash and debt together. What Is Charter Communications's Debt? As you can see below, Charter Communications had US$95.0b of debt, at June 2025, which is about the same as the year before. You can click the chart for greater detail. Net debt is about the same, since the it doesn't have much cash. A Look At Charter Communications' Liabilities The latest balance sheet data shows that Charter Communications had liabilities of US$14.6b due within a year, and liabilities of US$116.7b falling due after that. Offsetting this, it had US$606.0m in cash and US$3.55b in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by US$127.1b. Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes This deficit casts a shadow over the US$39.6b company, like a colossus towering over mere mortals. So we definitely think shareholders need to watch this one closely. At the end of the day, Charter Communications would probably need a major re-capitalization if its creditors were to demand repayment. See our latest analysis for Charter Communications In order to size up a company's debt relative to its earnings, we calculate its net debt divided by its earnings before interest, tax, depreciation, and amortization (EBITDA) and its earnings before interest and tax (EBIT) divided by its interest expense (its interest cover). This way, we consider both the absolute quantum of the debt, as well as the interest rates paid on it. Charter Communications's debt is 4.3 times its EBITDA, and its EBIT cover its interest expense 2.7 times over. Taken together this implies that, while we wouldn't want to see debt levels rise, we think it can handle its current leverage. Fortunately, Charter Communications grew its EBIT by 7.1% in the last year, slowly shrinking its debt relative to earnings. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Charter Communications can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting. Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. So the logical step is to look at the proportion of that EBIT that is matched by actual free cash flow. In the last three years, Charter Communications's free cash flow amounted to 29% of its EBIT, less than we'd expect. That weak cash conversion makes it more difficult to handle indebtedness. Our View We'd go so far as to say Charter Communications's level of total liabilities was disappointing. But on the bright side, its EBIT growth rate is a good sign, and makes us more optimistic. Overall, it seems to us that Charter Communications's balance sheet is really quite a risk to the business. So we're almost as wary of this stock as a hungry kitten is about falling into its owner's fish pond: once bitten, twice shy, as they say. The balance sheet is clearly the area to focus on when you are analysing debt. But ultimately, every company can contain risks that exist outside of the balance sheet. For instance, we've identified 1 warning sign for Charter Communications that you should be aware of. At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
an hour ago
- Yahoo
Spacecraft-Maker Firefly Shoots for the Moon in Nasdaq Debut
Another week, another IPO that's headed to the moon. Though this time, we mean it figuratively and literally. Just a week after Figma's successful market debut, Firefly Aerospace — which successfully pulled off America's first lunar landing since 1972 earlier this year — saw its stock pop more than 34% after listing on the Nasdaq on Thursday. READ ALSO: Eli Lilly's Miracle Weight Loss Pill May Not Be Miraculous Enough and Intel's CEO Lands in a Political Hot Seat Over Connections With China Escape Velocity Firefly has been lighting it up all year. In addition to delivering its robotic Blue Ghost lander to the moon in March for a NASA-funded mission to research moondust, completed when three attempts by competitors failed, Firefly has launched its Alpha rocket six times (though its most recent attempt in April suffered a mishap and ultimately failed to deliver a Lockheed Martin satellite into orbit). Still, investors were giddy at the chance to back the burgeoning space player. Earlier this week, Firefly upped its targeted share price range, from between $35 and $39 to a range of $41 to $43, before shares ultimately opened at $45. The company sold 19 million shares on Thursday, raising $868 million in the process, with shares trading at just over $60 at close, putting the company's market cap at around $9 billion. For its next missions, it'll need the cash: Firefly's research and development spending last year ballooned by 27% to nearly $150 million, according to its IPO prospectus, while its net loss grew to $231 million, compared with $136 million the year before. Still, it generated revenue of $61 million in 2024, up 10% year-over-year, while its backlog of orders stands at around $1.1 billion as of March. Reduce, Reuse, Recycle: Chief among those orders are more than 30 launches with its Alpha rocket, as well as a partnership with Northrop Grumman to develop a partially reusable rocket called Eclipse to compete with SpaceX's Falcon-9 reusable rocket. Given the somewhat turbulent relationship between SpaceX founder Elon Musk and the current administration, eclipsing the industry leader the next time government contracts are doled out may not be a moonshot. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
