COSCIENS Biopharma Inc. Reports Q2 2026 Results
TORONTO, ONTARIO, Aug. 11, 2026 (GLOBE NEWSWIRE) -- COSCIENS Biopharma Inc. (TSX: CSCI) (OTCQB: CSCI.F) (“COSCIENS” or the “Company”) today reported its financial and operating results for the second quarter ended June 30, 2026. All amounts in this press release are in U.S. dollars.
Q2 2026 and YTD Financial Highlights
- $5.3 million in cash and cash equivalents at June 30, 2026.
- Consolidated net loss for Q2 2026 of $0.2 million or $0.19 net loss per common share, as compared with a consolidated net loss of $2.7 million, or $2.57 net loss per common share for Q2 2025. The $2.5 million decrease in net loss is primarily attributable to higher gross margins from increased sales volumes and production efficiencies, lower selling, general and administrative expenses, and the reduction of losses from the discontinued operations of the Company’s German subsidiary, AEZS Germany.
- Consolidated net income for the first half of 2026 of $10.6 million or $10.08 net income per common share, as compared with a consolidated net loss of $6.4 million, or $6.05 net loss per common share for the same period in 2025. The $17.0 million increase in net income is primarily attributable to the $10.9 million of income from discontinued operations recognized upon the deconsolidation of the Company’s German subsidiaries from the consolidated financial results as well as higher gross margins resulting from increased sales volumes and production efficiencies and reductions in selling, general and administrative expenses.
- Consolidated net loss from continuing operations for the first half of 2026 of $0.4 million or $0.37 net loss per common share as compared to consolidated net loss from continuing operations of $4.9 million or $4.71 net loss per common share for the same period in 2025. The $4.5 million decrease reflects a decrease in total operating expenses of $2.8 million, a decrease in other loss of $0.3 million, and increase in gross margin of $1.4 million.
- Total revenue for Q2 2026 of $3.1 million as compared to $2.4 million for Q2 2025, reflecting higher sales volumes during the period.
- Total revenue for the first half of 2026 of $5.0 million as compared to $3.8 million for the same period in 2025, reflecting higher sales volumes during the period.
- Total operating expenses for Q2 2026 of $1.3 million as compared with $2.6 million for Q2 2025, reflecting a $1.0 million decrease in selling, general, and administrative expenses, and a $0.3 million decrease in research and development costs.
- Total operating expenses for the first half of 2026 of $2.8 million as compared with $5.7 million for the same period in 2025, reflecting a $2.2 million decrease in selling, general, and administrative expenses, and a $0.6 million decrease in research and development costs.
Operational and Corporate Highlights
Suspension of SEC Reporting Obligations
On June 17, 2026, Company shareholders approved a share reorganization, which was subsequently implemented on July 3, 2026, consisting of (i) a consolidation on the basis of one common share for every 150 common shares, (ii) followed immediately by a split on the basis of 50 common shares for every one common share. Shareholders who held fewer than 150 pre-consolidation common shares became entitled to a cash payment of US$1.60 per pre-consolidation common share and did not participate in the subsequent split.
The share reorganization was undertaken primarily to reduce the Company's number of registered holders of Common Shares, which enabled the Company to file a Form 15F with the U.S. Securities and Exchange Commission (the “SEC”) on July 6, 2026, which immediately suspended the Company's reporting obligations under the Securities Exchange Act of 1934 (“Exchange Act”). Unless denied by the SEC, the Company’s registration under Section 12 of the Exchange Act will terminate 90 days following the filing of the Form 15F. The Company expects significant annualized cost-savings as a result, driven by reduced regulatory and compliance expenses (including lower legal and accounting fees) and lower insurance costs.
For greater certainty, the Company remains listed on the TSX and continues to have its Common Shares posted for trading on the OTC Market and to meet its public reporting obligations as a "reporting issuer" under applicable Canadian securities laws, including by filing its continuous disclosure documents on its profile on SEDAR+ at www.sedarplus.ca.
“Over the past year, we have made significant improvements in the Company’s financial self-sufficiency. The focus now is to support Ceapro in its growth objectives and to also explore opportunities to achieve greater scale as a publicly-traded company.” said Peter Puccetti CEO and Chairman of the Board.
Consolidated Financial Statements and Management's Discussion and Analysis
For reference, the Management's Discussion and Analysis of Financial Condition and Results of Operations for the second quarter of 2026, as well as the Company's consolidated financial statements as of June 30, 2026, will be available on the Company's website (www.cosciensbio.com) in the Investors section or at the Company's SEDAR+ profile at http://www.sedarplus.ca.
About COSCIENS Biopharma Inc.
COSCIENS Biopharma Inc. is a holding company operating through its subsidiaries. COSCIENS’s principal operating subsidiary, Ceapro Inc. (“Ceapro”) is focused on the development and commercialization of natural, plant-based active ingredients derived from oats and other renewable plant resources, using proprietary manufacturing and extraction technologies. Ceapro’s primary active ingredient business activities relate to the development and commercialization of natural products for the personal care, cosmetic, human and animal health industries using proprietary technology, natural, renewable resources and developing innovative products, technologies and delivery systems.
The Company’s common shares are listed on the TSX under the symbol “CSCI” and are listed and posted for trading on the OTCQB® Venture Market under the symbol “CSCIF”. For more information, please visit COSCIENS' website at www.cosciensbio.com.
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking statements" and/or “forward-looking information" under applicable 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. Specific forward-looking statements in this document include, but is not limited to, statements relating to: the expected benefits associated with the Company’s recent share reorganization and suspension of its reporting obligations under applicable U.S. securities laws, and the plans, objectives, future outlook and financial position of the Company in general. All forward-looking statements are given pursuant to the "safe harbour" provisions of applicable securities legislation.
The forecasts and projections that make up the forward-looking statements contained herein are based on the Company’s current expectations and assumptions, including factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, and including, but not limited to assumptions based on historical trends, current conditions, and expected future developments, and assumptions regarding: the ability of the Company to execute on its strategic plans and find new customers and partners in connection therewith; the development of technologies and value-driving products; the extraction, production and commercialization of active ingredients from natural sources and our ability to successfully market related products; the successful development and marketing of our pipeline products as well as such products’ capability to address unmet needs within new markets; the Company’s business strategy; the Company’s positioning in its target markets; the impact of tariffs and other trade barriers, on our costs and revenues, as well as on the macroeconomic framework in which we operate; the Company’s plans for its PGX Technology; the Company’s ability to realize the anticipated cost savings from the recent suspension of U.S. reporting obligations; the adequacy of our financial resources to finance operations and expenditure requirements; and the plans, objectives, future outlook and financial position of the Company in general.
Forward-looking statements involve known and unknown risks and uncertainties, and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement. Such risk factors are included under “Risk Factors” in our Annual Report and in other documents furnished to the SEC and in our other public disclosure filed under our profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Many of these factors are beyond our control, and it is not possible for the Company to predict all of these factors, or to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements contained herein, except as required by applicable securities laws.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Toronto Stock Exchange accepts no responsibility for the adequacy or accuracy of this news release.
Issuer Contact:
Peter H. Puccetti
Chief Executive Officer and Chairman of the Board
ppuccetti@cosciensbio.com
Giuliano La Fratta
Chief Financial Officer
glafratta@cosciensbio.com
Investor Contact:
