Goodwood Inc. Demands Strategic Overhaul and Board Restructuring at COSCIENS Biopharma Inc (CSCI)
Key Summary: On December 19, 2024, Goodwood Inc. urged the Board to cut excessive R&D spending, adopt a sustainable strategy, and overhaul its composition to prioritize value creation. It warned of proposing new directors if changes aren't made.
Market Cap: $8 million | COSCIENS Biopharma Inc., a specialty biopharmaceutical company, engages in developing and commercializing therapeutics and diagnostic tests in Canada, Switzerland, Ireland, Denmark, Germany, the United States, and internationally.
On December 19, 2024, Goodwood Inc. sent a letter to the Board expressing concerns over excessive research and development spending and an unsustainable strategy. Goodwood called for a major overhaul of the Board, prioritizing value creation, cost-cutting, and eliminating unnecessary R&D programs. Goodwood stated its willingness to engage with the Board on necessary changes, but if no action is taken, it intends to propose new directors for election.
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