COSCIENS Biopharma (CSCIF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 30, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 25, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CSCIF SEC filings page.
COSCIENS Biopharma Inc (CSCIF) reported $7.5M in revenue for fiscal year 2025, down 21.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (20-F and 6-K reports).
COSCIENS remains a cash-consuming development business, with weakening economics and a balance sheet increasingly funded by liabilities.
In FY2025, liabilities were82.1% of assets while the liabilities-to-equity ratio reached 4.6x. That ratio was 1.7x in FY2024 even though liabilities fell, because equity fell faster; the balance sheet therefore became more leveraged as obligations shrank.
Revenue fell
R&D intensity remained high: spending fell
Financial Health Signals
We do not publish a peer-relative financial health score for COSCIENS Biopharma Inc, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
COSCIENS Biopharma Inc scores -1.99, below the 1.81 distress threshold. The score is pulled down most by an operating loss of $10.7M against total assets of $21.4M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
COSCIENS Biopharma Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 operating efficiency signals passes.
COSCIENS Biopharma Inc reported a net loss of $10.4M while operations used $8.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
COSCIENS Biopharma Inc reported an operating loss of $10.7M against $168K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
COSCIENS Biopharma Inc generated $1.8M in revenue in Q4 2025. This represents a decrease of 46.8% from the same quarter a year earlier. Against the prior quarter it is up 19.1%.
COSCIENS Biopharma Inc's EBITDA was -$2.1M in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
COSCIENS Biopharma Inc reported a net loss of $2.2M in Q4 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
COSCIENS Biopharma Inc earned -$0.68 per diluted share (EPS) in Q4 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
COSCIENS Biopharma Inc recorded an outflow of $1.5M in free cash flow in Q4 2025, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
COSCIENS Biopharma Inc held $7.3M in cash as of Q4 2025; no long-term debt figure is on record for that period.
Not reported for Q4 2025.
Margins & Returns
COSCIENS Biopharma Inc's gross margin was 34.5% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is down 27.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.4 percentage points.
COSCIENS Biopharma Inc's quarterly ROE was -56.8% in Q4 2025: one quarter's net income over shareholder equity, not annualized. This is down 5.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 21.0 percentage points.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
COSCIENS Biopharma Inc invested $599K in research and development in Q4 2025. This represents a decrease of 79.4% from the same quarter a year earlier. Against the prior quarter it is up 13.7%.
COSCIENS Biopharma Inc invested $46K in capex in Q4 2025, funding long-term assets and infrastructure. This represents a decrease of 85.1% from the same quarter a year earlier. Against the prior quarter it is up 1050.0%.
Not reported for Q4 2025.
CSCIF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M-46.8% | $1.5M-20.7% | $2.7M+17.6% | $1.5M-27.1% | $3.3M+98.8% | $1.9M-4.1% | $2.3M+67.9% | $2.1M-3.3% |
| Cost of Revenue | $1.2M-9.1% | $862K-5.7% | $1.8M+16.9% | $1.1M-8.3% | $1.3M-48.0% | $914K-20.3% | $1.5M+155.1% | $1.2M+6682.4% |
| Gross Profit | $609K-70.3% | $621K-35.1% | $974K+18.9% | $443K-51.0% | $2.0Mn/m | $957K+18.9% | $819K+2.8% | $904K-57.2% |
| R&D Expenses | $599K-79.4% | $527K-81.2% | $690K-54.9% | $1.1M+6.8% | $2.9M-6.0% | $2.8M+542.0% | $1.5M+121.4% | $1.1M-73.5% |
| Operating Income | -$2.4Mn/m | -$2.3Mn/m | -$2.4Mn/m | -$3.6Mn/m | -$6.4M-456.0% | -$6.3Mn/m | -$3.8Mn/m | -$1.8Mn/m |
| EBITDA | -$2.1Mn/m | -$2.0Mn/m | -$2.1Mn/m | -$3.3Mn/m | -$6.0M-342.9% | -$5.8Mn/m | -$3.4Mn/m | -$1.5Mn/m |
| Interest Expense | $32K+45.5% | $43K+95.5% | $23K+4.5% | $70K+11.1% | $22K-83.9% | $22K-4.3% | $22K-8.3% | $63Kn/m |
| Income Tax | N/A | N/A | $1Kn/m | N/A | $1.1Mn/m | -$112Kn/m | -$474Kn/m | -$412K |
| Net Income | -$2.2Mn/m | -$1.8Mn/m | -$2.7Mn/m | -$3.7Mn/m | -$6.7M-379.8% | -$5.8Mn/m | -$1.4Mn/m | -$1.4Mn/m |
| EPS (Basic) | -$0.68n/m | -$0.57n/m | -$0.85n/m | -$1.16 | -$2.35n/m | -$1.85 | -$0.64n/m | -$0.76 |
| EPS (Diluted) | -$0.68n/m | -$0.57n/m | -$0.85n/m | -$1.16 | -$2.35n/m | -$1.85 | -$0.64n/m | -$0.76 |
| Diluted Shares (Avg) | N/A | 3M+2.3% | 3M+43.0% | 3M | N/A | 3M | 2M+20.2% | 2M |
Not reported in any period shown, so not listed: SG&A Expenses.
CSCIF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.4M-38.9% | $23.9M-45.5% | $27.6M-44.9% | $31.1M-2.0% | $35.1M+47.7% | $43.8M+3.0% | $50.0M+7.7% | $31.8M-38.0% |
| Current Assets | $11.5M-52.0% | $13.8M-51.0% | $16.5M-50.3% | $20.4M-34.8% | $24.0M+112.8% | $28.2M-32.7% | $33.2M-27.6% | $31.2M-38.5% |
| Cash & Equivalents | $7.3M-55.4% | $8.5M-57.4% | $9.3M-66.4% | $13.8M+292.4% | $16.4M+145.5% | $20.0M+139.1% | $27.8M+225.7% | $3.5M-62.3% |
| Inventory | $1.3M-51.4% | $1.8M-46.8% | $1.8M-40.4% | $2.5M+3735.9% | $2.7M-32.9% | $3.3M | $3.1M | $64K |
| Accounts Receivable | $1.3M-46.5% | $1.6M-15.2% | $2.8M+124.8% | $1.9M+878.4% | $2.4M+712.8% | $1.9M+246.5% | $1.2M+569.2% | $190K-65.9% |
| Total Liabilities | $17.6M-19.7% | $18.8M-20.9% | $20.5M-14.1% | $21.0M+11.6% | $21.9M+708.5% | $23.8M+46.6% | $23.8M+36.9% | $18.8M-6.2% |
| Current Liabilities | $3.6M-50.0% | $4.0M-51.2% | $5.5M-44.1% | $7.1M+34.4% | $7.2M+450.9% | $8.2M+93.2% | $9.9M+142.8% | $5.3M-18.4% |
| Non-Current Liabilities | $14.0M-4.8% | $14.8M-5.1% | $14.9M+7.2% | $13.9M+2.7% | $14.7M+949.8% | $15.6M+30.1% | $13.9M+4.4% | $13.6M-0.5% |
| Total Equity | $3.8M-70.8% | $5.1M-74.6% | $7.1M-72.9% | $10.1M-47.1% | $13.2M-37.4% | $20.0M-9.3% | $26.2M+12.2% | $19.2M-38.5% |
| Retained Earnings | -$20.5Mn/m | -$19.0Mn/m | -$17.2M-1223.7% | -$14.7Mn/m | -$12.1M-378.0% | -$5.2Mn/m | $1.5Mn/m | -$375.3Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.
CSCIF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5Mn/m | -$676Kn/m | -$4.4Mn/m | -$1.9Mn/m | -$3.0Mn/m | -$7.8M-5502.1% | -$1.4Mn/m | -$2.4Mn/m |
| Depreciation & Amortization | $289K-26.3% | $287K-40.1% | $287K-23.9% | $325K-9.5% | $392K+9.2% | $479K+32.0% | $377K+4.1% | $359K+797.5% |
| Capital Expenditures | $46K-85.1% | $4K-96.9% | $49K-68.8% | $615K+9.0% | $309K-47.4% | $131K+162.0% | $157K+190.7% | $564K+28100.0% |
| Free Cash Flow | -$1.5Mn/m | -$680Kn/m | -$4.5Mn/m | -$2.5Mn/m | -$3.3Mn/m | -$7.9M-8514.9% | -$1.5Mn/m | -$2.9Mn/m |
| Investing Cash Flow | $201Kn/m | $4K-95.2% | -$48K-100.2% | -$615Kn/m | -$316Kn/m | $83Kn/m | $25.9Mn/m | -$564Kn/m |
| Financing Cash Flow | -$15Kn/m | -$85Kn/m | -$107Kn/m | -$200Kn/m | -$202Kn/m | -$188Kn/m | -$126Kn/m | -$94Kn/m |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
CSCIF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.5%-27.2pp | 41.9%-9.3pp | 35.4%+0.4pp | 29.5%-14.4pp | 61.7%+108.1pp | 51.1%+9.9pp | 35.0%-22.2pp | 44.0%-55.3pp |
| Operating Margin | -135.2% | -156.6% | -85.6% | -241.1% | -193.2% | -336.3% | -160.7% | -88.2% |
| Net Margin | -123.6% | -122.7% | -98.3%-37.4pp | -243.7% | -202.6% | -307.6% | -60.9%+0.9pp | -68.1% |
| Return on Equity | -56.8%-5.7pp | -35.8%-7.1pp | -38.1%-32.6pp | -36.0%-28.7pp | -51.1%-62.6pp | -28.7%-25.2pp | -5.4%-1.7pp | -7.3%+6.3pp |
| Return on Assets | -10.2%+9.0pp | -7.6%+5.5pp | -9.8%-7.0pp | -11.7%-7.3pp | -19.2%-29.3pp | -13.2%-11.3pp | -2.8%-1.0pp | -4.4%+3.9pp |
| Current Ratio | 3.18-0.1x | 3.470.0x | 2.98-0.4x | 2.88-3.1x | 3.32-5.3x | 3.46-6.5x | 3.36-7.9x | 5.94-1.9x |
| Liabilities-to-Equity | 4.58+2.9x | 3.70+2.5x | 2.88+2.0x | 2.07+1.1x | 1.66+1.5x | 1.19+0.5x | 0.91+0.2x | 0.98+0.3x |
| Asset Turnover | 0.080.0x | 0.060.0x | 0.10+0.1x | 0.050.0x | 0.090.0x | 0.040.0x | 0.050.0x | 0.060.0x |
| FCF Margin | -85.8%+13.7pp | -45.9% | -163.5% | -166.3% | -99.6% | -422.8% | -66.1%-3.9pp | -143.1% |
Not reported in any period shown, so not listed: Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| COSCIENS Biopharma Inc CSCIF | FY2025 | $7.5M | -$10.4M | N/A | $6.1M | — |
| Nymox Pharm Corp NYMXF | FY2024 | N/A | N/A | N/A | $6.2M | — |
| Adaptimmune Theraptcs ADAPY | FY2024 | $178.0M | -$70.8M | -39.8% | $7.1M | — |
Where COSCIENS Biopharma Inc Ranks
Frequently Asked Questions
COSCIENS Biopharma Inc (CSCIF) reported $7.5M in total revenue for fiscal year 2025. This represents a -21.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
COSCIENS Biopharma Inc (CSCIF) revenue declined by 21.8% year-over-year, from $9.6M to $7.5M in fiscal year 2025.
No, COSCIENS Biopharma Inc (CSCIF) reported a net loss of $10.4M in fiscal year 2025.
COSCIENS Biopharma Inc (CSCIF) had EBITDA of -$9.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
COSCIENS Biopharma Inc (CSCIF) had a gross margin of 35.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
COSCIENS Biopharma Inc (CSCIF) has a return on equity of -269.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
COSCIENS Biopharma Inc (CSCIF) recorded an outflow of $9.2M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
COSCIENS Biopharma Inc (CSCIF) recorded an outflow of $8.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
COSCIENS Biopharma Inc (CSCIF) had $21.4M in total assets as of fiscal year 2025, including both current and long-term assets.
COSCIENS Biopharma Inc (CSCIF) invested $706K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
COSCIENS Biopharma Inc (CSCIF) invested $3.0M in research and development during fiscal year 2025.
COSCIENS Biopharma Inc (CSCIF) had a current ratio of 3.18 as of fiscal year 2025, which is generally considered healthy.
COSCIENS Biopharma Inc (CSCIF) had a liabilities-to-equity ratio of 4.58 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
COSCIENS Biopharma Inc (CSCIF) had a return on assets of -48.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
COSCIENS Biopharma Inc (CSCIF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $6.1M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
COSCIENS Biopharma Inc (CSCIF) trades at 0.8x sales, its market capitalization divided by $7.5M revenue, FY2025. The market capitalization is $6.1M as of Oct 30, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
COSCIENS Biopharma Inc (CSCIF) has an Altman Z-Score of -1.99, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
COSCIENS Biopharma Inc (CSCIF) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
COSCIENS Biopharma Inc (CSCIF) reported a net loss of $10.4M while operations used $8.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
COSCIENS Biopharma Inc (CSCIF) reported an operating loss of $10.7M against $168K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.