COSCIENS Biopharma may delay annual financial filings

COSCIENS Biopharma Inc. announced that it might delay filing important year-end financial documents. The company, based in Toronto, focuses on developing various health and beauty products. The deadline for these filings is March 31, 2025. The potential delay is due to complexities from a recent merger with Ceapro Inc. This has made the audit process more complicated and time-consuming. COSCIENS also noted weaknesses in its financial controls, which it aims to address. The company’s auditors are reviewing the impact of new U.S. tariffs, adding to the need for more thorough checks. COSCIENS is committed to completing these filings as soon as possible and will keep the public informed on its progress. To prepare for a possible delay, COSCIENS has applied for a management cease trade order (MCTO) from Ontario Securities Commission. This would allow trading to continue for most investors but restricts management’s ability to trade company shares. Despite the challenges, COSCIENS confirmed it has no insolvency issues and is compliant with other filing obligations. The company remains active on the Nasdaq and Toronto stock exchanges under the ticker symbol "CSCI."