COSCIENS Biopharma (CSCI), a holdings company, on Tuesday reported its first quarter financial results, and provided further business updates.
Q1 2026:
The company recorded a consolidated net income of $10.76 million, or $3.42 per share in Q1 2026, while in the same period of 2025 it reported a consolidated net loss of $3.65 million, or $1.16 per share.
Net losses amounted to $0.2 million, or $0.06 per share, while in the same period in the prior year, the net loss was $2.7 million, or $0.85 per share.
The company recorded net revenues of $1.9 million in Q1 2026, relatively stable compared to the $1.5 million reported a year ago.
Total operating expenses were $1.5 million, considerably lower than the $3 million reported in the previous year.
Cash, cash equivalents, and marketable securities on March 31, 2026, amounted to $5 million.
Operational Highlights:
COSCIENS ceased funding to its German subsidiaries, Aeterna Zentaris GmBH and Zentaris IVF GmBH in the first quarter. The total revenue of these subsidiaries, amounting to $10.9 million, will be listed under discontinued operations.
After discouraging results from the AvenActive Phase 2a trial for managing conditions related to inflammation, the company chose to discontinue the program. The report from March 2026 indicated no statistically significant results.
CSCI closed Tuesday at $2.72.
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