August 14, 2025 — COSCIENS Biopharma Inc. (NASDAQ: CSCI) (TSX: CSCI) is planning to voluntarily delist from the Nasdaq while retaining its listing on the TSX, the company announced today. The decision was approved by the Board of Directors and comes as the company reported its financial and operating results for the second quarter ended June 30, 2025.
Second quarter highlights include a 17% increase in revenue compared to Q2 2024, a 19% increase in gross profit, and a 28% reduction in operating expenses. The company also completed a strategic reconstitution of the Board of Directors and onboarded a new CEO, as well as initiated a corporate restructuring that resulted in a 27% workforce reduction.
Peter Puccetti, Chairman of the Board of Directors of COSCIENS, stated that the newly reconstituted board is working closely with management to identify and execute operational and strategic priorities. CEO Anna Biehn noted that Q2 2025 marks a foundational realignment of the company’s strategic focus and cost structure.
The company intends to file a Form 25 with the SEC on or about August 25, 2025, with the delisting expected to be effective around September 5, 2025. Following the Nasdaq delisting, COSCIENS expects its common shares will begin trading in the over-the-counter (OTC) marketplace in the U.S., while continuing to trade in Canada on the TSX.
The company had $9.3 million in cash and cash equivalents on June 30, 2025. For the three-month period ended June 30, 2025, the company reported a consolidated net loss of $2.4 million, or $0.75 loss per common share.
Anna Biehn, Chief Executive Officer, ABiehn@cosciensbio.com; Investor Contact: IR@cosciensbio.com
Source: COSCIENS Biopharma Inc.
