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COSCIENS Biopharma Announces Impressive Mid-Year Financials

Strong Revenue and Gross Profit Margin Highlight Company's Financial Performance

Financial Highlights

LOS ANGELES, Calif. – August 13, 2024 – COSCIENS Biopharma Inc. (CSCI), a leader in the development of novel therapies for rare diseases, today announced its financial results for the six months ended June 30, 2024. The company reported revenue of $23 million for the period, a significant increase of approximately 4,500% compared to the corresponding period in 2023. COSCIENS Biopharma also reported a gross profit margin of 90.69% for the six months ended June 30, 2024, demonstrating the company's ability to generate significant gross profit from its operations.

Robust Financial Performance and Expected Positive Outlook

COSCIENS Biopharma's GAAP net loss for the six months ended June 30, 2024 was $11.3 million, or a loss per share of $0.64, compared to a net loss of $1.5 million, or a loss per share of $0.09, for the six months ended June 30, 2023. The company attributes this increase in net loss to higher research and development expenses, as well as general and administrative expenses, as it continues to invest in its pipeline of novel therapies. Despite the net loss, COSCIENS Biopharma's strong revenue and gross profit margin suggest a positive financial trajectory for the company in the coming quarters.

Anticipated Data Release and Market Outlook

COSCIENS Biopharma is eagerly anticipating the release of data from its pivotal DETECT-Trial, which is evaluating the efficacy and safety of macimorelin for the diagnosis of childhood-onset growth hormone deficiency. Positive results from this trial could significantly enhance the company's market position and lead to increased revenue in the future. With a market capitalization of approximately $242 million, COSCIENS Biopharma is well-positioned to capitalize on the growing demand for innovative therapies in the rare disease market. The company's strong financial performance and promising product pipeline make it an attractive investment opportunity for investors seeking long-term growth potential.