Cosciens Biopharma (CSCI) Q1 2025 earnings summary

Executive summary

• Repositioned as a pure-play natural-based product company after strategic review and pipeline prioritization.

• Appointed Anna Biehn as Chief Executive Officer.

• Focused on advancing Avenanthramide Phase 2 clinical trial and commercializing new nutraceuticals.

Financial highlights

• Ended Q1 2025 with $13.8 million in cash and cash equivalents.

• Reported Q1 2025 net loss of $3.7 million ($1.16 loss per share), compared to $1.4 million net loss ($0.76 loss per share) in Q1 2024.

• Q1 2025 revenue was $1.5 million, down from $2.1 million in Q1 2024, mainly due to lower sales of Avenanthramides, Beta Glucan, and Oat Oil.

• Operating expenses increased to $4.0 million in Q1 2025 from $2.7 million in Q1 2024, driven by higher SG&A costs post-merger and increased R&D.

• Quarter-over-quarter cash spend reduced from $3.6 million in Q4 2024 to $2.6 million in Q1 2025 due to restructuring and operational synergies.

Outlook and guidance

• Aiming to complete Phase 2a Clinical Efficacy Study of Avenanthramides tablets during Q3 2025.

• Plans to commercialize Oat Beta Glucan chewable bar for cholesterol reduction and Yeast Beta Glucan powder as an immune booster.