Thursday’s 10 Worst-Performing Stocks

5. COSCIENS Biopharma Inc. (NASDAQ:CSCI)

Cosciens Biopharma slashed its share prices by 21.15 percent on Thursday to finish at $3.43 each as investors sold off positions to mitigate the risks following indications that there might be a delay in the filing of its year-end financial results.

“The potential delay in filing of the Required Filings is a result of additional time that may be required to address certain matters related to the 2024 all-stock merger transaction (the “Transaction”) between the company and Ceapro Inc. (“Ceapro”),” it said.

In connection with the transaction, Ceapro was required to undergo a conversion of its accounting procedures to ensure compliance with the company’s existing SEC reporting obligations and internal control requirements.

“This is the first audit of the combined entity that has been required since the transaction, which has not only added additional complexity to the audit process but also required additional time to complete the review of Ceapro’s internal controls,” CSCI said.