COSCIENS Biopharma (CSCI) 20-F 27 Mar 24 2023 FY Annual report (foreign) Financial data

Cover

Cover - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-38064
Entity Registrant Name	AETERNA ZENTARIS INC.
Entity Central Index Key	0001113423
Entity Incorporation, State or Country Code	Z4
Entity Address, Address Line One	c/o Norton Rose Fulbright Canada, LLP
Entity Address, Address Line Two	222 Bay Street
Entity Address, Address Line Three	Suite 3000, PO Box 53
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	M5K 1E7
Title of 12(b) Security	Common Shares
Trading Symbol	AEZS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	4,855,876
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	1208	1263
Auditor Name	Deloitte LLP	Ernst & Young LLP
Auditor Location	Montreal, Canada	Montreal, Canada
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Weismüllerstr. 50
Entity Address, City or Town	Frankfurt am Main
Entity Address, Country	DE
Entity Address, Postal Zip Code	D-60314
Contact Personnel Name	Klaus Paulini
Contact Personnel Email Address	KPaulini@aezsinc.com

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents (note 6)	$ 34,016	$ 50,611
Trade and other receivables (note 7)	222	732
Inventory	66	229
Income taxes receivable	121	1,428
Prepaid expenses and other current assets (note 8)	1,942	2,488
Total current assets	36,367	55,488
Non-current assets
Restricted cash equivalents (note 6)	332	322
Property and equipment (note 9)	317	216
Total non-current assets	649	538
Total assets	37,016	56,026
Current liabilities
Payables and accrued liabilities (note 12)	3,622	3,828
Provisions (note 13)	429	45
Income taxes payable	111	108
Deferred revenues (note 5)	218	2,949
Lease liabilities (note 14)	160	114
Total current liabilities	4,540	7,044
Non-current liabilities
Deferred revenues (note 5)	1,544	1,684
Deferred gain		110
Lease liabilities (note 14)	119	65
Employee future benefits (note 15)	12,617	11,159
Provisions		188
Total non-current liabilities	14,280	13,206
Total liabilities	18,820	20,250
Shareholders’ equity
Share capital (note 16)	293,410	293,410
Warrants (note 17)	5,085	5,085
Contributed surplus (note 18)	90,710	90,332
Deficit	(369,831)	(352,084)
Accumulated other comprehensive loss	(1,178)	(967)
Total Shareholders’ equity	18,196	35,776
Total liabilities and shareholders’ equity	$ 37,016	$ 56,026

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Issued capital [member]	Warrants [member]	Contributed Surplus [Member]	Retained earnings [member]	Accumulated other comprehensive income [member]	Total
Balance at Dec. 31, 2020	$ 235,008	$ 12,402	$ 89,505	$ (322,659)	$ (1,045)	$ 13,211
IfrsStatementLineItems [Line Items]
Net loss				(8,368)		(8,368)
Foreign currency translation adjustments					367	367
Actuarial loss on defined benefit plans and remeasurement of the net defined benefit liability (note 15)				(3,592)		(3,592)
Comprehensive loss				(11,960)	367	(11,593)
Issuance of common shares and warrants, net of transaction costs (note 16)	29,082	1,897				30,979
Exercise of warrants (note 17)	29,833	(9,746)				20,087
Transfer of warrant issuance costs on exercise of warrants (note 17)	(532)	532
Exercise of deferred share units	19		(28)			(9)
Share-based compensation costs			311			311
Balance at Dec. 31, 2021	293,410	5,085	89,788	(334,619)	(678)	52,986
IfrsStatementLineItems [Line Items]
Net loss				(22,727)		(22,727)
Foreign currency translation adjustments					(289)	(289)
Actuarial loss on defined benefit plans and remeasurement of the net defined benefit liability (note 15)				5,262		5,262
Comprehensive loss				(17,465)	(289)	(17,754)
Issuance of common shares and warrants, net of transaction costs (note 16)
Share-based compensation costs			544			544
Balance at Dec. 31, 2022	293,410	5,085	90,332	(352,084)	(967)	35,776
IfrsStatementLineItems [Line Items]
Net loss				(16,552)		(16,552)
Foreign currency translation adjustments					(211)	(211)
Actuarial loss on defined benefit plans and remeasurement of the net defined benefit liability (note 15)				(1,195)		(1,195)
Comprehensive loss				(17,747)	(211)	(17,958)
Issuance of common shares and warrants, net of transaction costs (note 16)
Share-based compensation costs			378			378
Balance at Dec. 31, 2023	$ 293,410	$ 5,085	$ 90,710	$ (369,831)	$ (1,178)	$ 18,196

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares
Profit or loss [abstract]
Revenues (note 5)	$ 4,498	$ 5,640	$ 5,260
Expenses
Cost of sales	222	157	90
Research and development	13,560	12,506	6,574
Selling, general and administrative	8,724	8,230	7,267
Impairment of intangible assets (note 10)		584
Impairment of goodwill (note 11)		7,642
Impairment of other assets (note 7)		124
Total expenses	22,506	29,243	13,931
Loss from operations	(18,008)	(23,603)	(8,671)
(Loss) gain due to changes in foreign currency exchange rates	(206)	879	215
Gain on sale of intangible asset (note 10)	549
Interest income	1,126
Net other costs	(13)	(3)	(21)
Net other income (costs)	1,456	876	194
Loss before income taxes	(16,552)	(22,727)	(8,477)
Income tax recovery			109
Net loss	(16,552)	(22,727)	(8,368)
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation adjustments	(211)	(289)	367
Items that will not be reclassified to profit or loss:
Actuarial (loss) gain on defined benefit plans (note 15)	(1,195)	5,262	(3,592)
Comprehensive loss	$ (17,958)	$ (17,754)	$ (11,593)
Basic loss per share | $ / shares	$ (3.41)	$ (4.68)	$ (1.82)
Diluted loss per share | $ / shares	$ (3.41)	$ (4.68)	$ (1.82)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (16,552)	$ (22,727)	$ (8,368)
Items not affecting cash and cash equivalents:
Amortization of deferred revenues	(1,607)	(1,704)	(1,670)
Share-based compensation costs	378	544	311
Movement in provisions	224	(28)	23
Depreciation and amortization	169	135	145
Employee future benefits	520	295	161
Gain on disposal of property and equipment			(1)
Gain on sale of intangible asset (note 10)	(549)
Interest accretion on lease liabilities	13	4	7
Net foreign exchange differences	(7)	16	(179)
Impairment of intangible assets (note 10)		584
Impairment of goodwill (note 11)		7,642
Impairment of other assets		124
Other non-cash items			95
Refund (payment) of income taxes	1,329	831	(1,605)
Changes in operating assets and liabilities (note 20)	(1,036)	604	2,500
Net cash (used in) provided by operating activities	(17,118)	(13,680)	(8,581)
Cash flows from financing activities
Proceeds from issuances of common shares and warrants (note 16)			34,200
Transaction costs			(3,221)
Proceeds from exercise of warrants			20,087
Proceeds on deferred gain		16	98
Payments on lease liabilities	(151)	(134)	(127)
Net cash (used in) provided by financing activities	(151)	(118)	51,037
Cash flows from investing activities
Purchase of intangible assets			(609)
Purchase of property and equipment	(19)	(11)	(30)
Proceeds from disposals of property and equipment			1
Proceeds from sale of intangible asset (note 10)	549
Decrease in restricted cash equivalents	(2)	(1)	(20)
Net cash provided by (used in) investing activities	528	(12)	(658)
Effect of exchange rate changes on cash and cash equivalents	146	(879)	(769)
Net change in cash and cash equivalents	(16,595)	(14,689)	41,029
Cash and cash equivalents – beginning of year	50,611	65,300	24,271
Cash and cash equivalents – end of year	$ 34,016	$ 50,611	$ 65,300

Business overview

Business overview	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Business overview	1. Business overview Summary of business Aeterna Zentaris (“Aeterna” or the “Company”) is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests. The Company’s lead product, Macrilen® (macimorelin), is the first and only U.S. Food and Drug Administration (“FDA”) and European Medicines Agency (“EMA”) approved oral test indicated for the diagnosis of patients with adult growth hormone deficiency (“AGHD”). Macimorelin is currently marketed under the tradename Ghryvelin™ in the European Economic Area and the United Kingdom through an exclusive licensing agreement with Pharmanovia. The Company’s several other license and commercialization partners are also seeking approval for commercialization of macimorelin in Israel and the Palestinian Authority, the Republic of Korea, Turkey and several non-European Union Balkan countries. The Company is actively pursuing business development opportunities for the commercialization of macimorelin in North America, Asia and the rest of the world. The Company is also dedicated to the development of therapeutic assets and has taken steps to establish a pre-clinical pipeline to potentially address unmet medical needs across several indications with a focus on rare or orphan indications. Reporting entity The accompanying consolidated financial statements include the accounts of Aeterna Zentaris Inc., an entity incorporated under the Canada Business Corporations Act The registered office of the Company is located at 222 Bay Street, Suite 3000, P.O. Box 53, Toronto, Ontario M5K 1E7, Canada. The Company’s common shares are listed on both the Toronto Stock Exchange and on the NASDAQ Capital Market. Basis of presentation (a) Statement of compliance These consolidated financial statements as of December 31, 2023, and 2022 and for the years ended December 31, 2023, 2022 and 2021 have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). These consolidated financial statements were approved by the Company’s Board of Directors on March 26, 2024. The preparation of financial statements in accordance with IFRS requires the use of certain critical accounting estimates and the exercise of management’s judgment in applying the Company’s accounting policies. Areas involving a high degree of judgment or complexity and areas where assumptions and estimates are significant to the Company’s consolidated financial statements are discussed in note 3 - Critical accounting estimates and judgments. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) (b) Basis of measurement The consolidated financial statements have been prepared under a historical cost convention. (c) Principles of consolidation These consolidated financial statements include any entity for which the Company has power over, through existing rights providing the current ability to direct the relevant activities. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. An entity is included in the consolidation from the date that control is transferred to the Company, while any entities that are sold are excluded from the consolidation from the date that control ceases. All inter-company balances and transactions are eliminated on consolidation. (d) Foreign currency The consolidated financial statements are presented in United States Dollars. Items included in the financial statements of the Group’s entities are measured using the currency of the primary economic environment in which the entities operate (the “functional currency”), which is the US dollar for the Company and its US subsidiary, Aeterna Zentaris, Inc., and the Euro (“EUR” or “€”) for its German subsidiaries. Assets and liabilities of the German subsidiaries are translated from EUR balances at the period-end exchange rates, and the results of operations are translated from EUR amounts at average rates of exchange for the period. The resulting translation adjustments are included in accumulated other comprehensive loss within shareholders’ equity. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the underlying transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities not denominated in the functional currency are recognized in the consolidated statements of loss and comprehensive loss.

Summary of material accounting

Summary of material accounting policies	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Summary of material accounting policies	2. Summary of material accounting policies The accounting policies set out below have been applied consistently to all years presented in these consolidated financial statements and have been applied consistently by all Group entities. Cash and cash equivalents Cash and cash equivalents consist of unrestricted cash on hand and balances with banks, as well as short-term interest-bearing deposits, such as money market accounts, that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value, with a maturity of three months or less from the date of acquisition. Goodwill Goodwill is recognized as the fair value of the consideration transferred, in a business combination, including the recognized amount of any non-controlling interest in the acquiree, less the fair value of the net identifiable assets acquired, and liabilities assumed, as of the acquisition date. Subsequent to initial recognition, goodwill is measured at cost less accumulated impairment losses. Goodwill acquired in business combinations is allocated to groups of cash generating units (“CGU”) that are expected to benefit from the synergies of the combination. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Impairment of long-lived assets Items of property and equipment and identifiable intangible assets with finite lives that are subject to depreciation or amortization, respectively, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be recoverable. Intangible assets that are not subject to amortization are tested when there are indications that their carrying value may not be recoverable, or, at a minimum, annually. Goodwill is not subject to amortization, but instead is tested for impairment annually or more often if there is an indication that the group of CGUs to which the goodwill has been allocated may be impaired. Impairment is determined for goodwill by assessing whether the carrying value of the group of CGUs, including the allocated goodwill, exceeds the group of CGU’s recoverable amount, which is the higher of fair value less costs of disposal and the group of CGU’s value in use. Fair value less costs of disposal is determined based on a market approach and also derived from market data, including, information from market participants regarding the price that the Company could receive in a sale of the group of CGUs. Value in use is determined based on cash flow projections from financial budgets approved by senior management covering a five-year period. The estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the group of CGUs. In the event that the carrying amount of the group of CGU’s, including the allocated goodwill exceeds its recoverable amount, an impairment loss is recognized in an amount equal to the excess. Impairment losses related to goodwill, which are recorded in the consolidated statement of loss and comprehensive loss, are not subsequently reversed. Post-employment benefits The Company has partially funded and unfunded defined benefit multi-employer pension plans, namely the DUPK pension plan and the RUK 1990 and 2006 pension plans, (the “Pension Benefit Plans”) and unfunded post-employment benefit plans in Germany. Provisions for pension obligations are established for benefits payable in the form of retirement, disability and surviving dependent pensions. The Company also provides defined contribution plans to some of its employees. For defined benefit pension plans and other post-employment benefits, net periodic pension expense is actuarially determined on a quarterly basis using the projected unit credit method. The cost of pension and other benefits earned by employees is determined by applying certain assumptions, including discount rates, rate of pension benefit increases, the projected age of employees upon retirement and the expected rate of future compensation. The employee future benefits liability is recognized at its present value, which is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid and that have terms to maturity approximating the terms of the related future benefit liability. Actuarial gains and losses that arise in calculating the present value of the defined benefit obligation are recognized in other comprehensive loss, net of tax, and simultaneously reclassified in the deficit in the consolidated statement of financial position in the year in which the actuarial gains and losses arise and without recycling to the consolidated statement of loss and comprehensive loss in subsequent periods. Share-based compensation costs The Company operates an equity-settled share-based compensation plan under which the Company receives services from directors, senior executives, employees and other collaborators as consideration for equity instruments of the Company. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The Company grants deferred share units (“DSUs”) to members of its Board of Directors who are not employees or officers of the Company. DSUs cannot be redeemed until the holder is no longer a director of the Company and are considered equity-settled instruments. Under the terms of the DSU agreement, the DSUs vest immediately upon grant. The value attributable to the DSUs is based on the market value of the share price at the time of grant and share based compensation expense is recognized in general and administrative expenses in the consolidated statement of loss and comprehensive loss. At the time of redemption, each DSU may be exchanged for one common share of the Company, net of applicable holding taxes. Any consideration received by the Company in connection with the exercise of DSUs is credited to share capital. Any other capital component of the share-based compensation is transferred to share capital upon the issuance of shares. Revenue recognition The Company generates revenue from license and collaboration agreements with customers (license fees, milestone revenue, royalties), the provision of development services, the sale of certain active pharmaceutical ingredients (“API”), semi-finished goods and finished goods, and from certain supply chain activities, which are comprised largely of oversight or supervisory support services related to stability studies or development activities carried out with respect to API batch production as specified in underlying contracts with customers. IFRS 15 prescribes a five-step framework through which revenue is recognized when control of promised goods or services is transferred to a customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Goods and services that are determined not to be distinct are combined with other promised goods or services until a distinct bundle is identified. The Company allocates the transaction price (the amount of consideration to which the Company expects to be entitled in exchange for the promised goods or services) to each performance obligation and recognizes the associated revenue when (or as) each performance obligation is satisfied. The Company’s estimate of the transaction price for each contract includes all variable consideration to which the Company expects to be entitled, and that estimate is reassessed at the end of each reporting period. When two or more contracts are entered into with the same customer at or near the same time, the Company evaluates the contracts to determine whether the contracts should be accounted for as a single arrangement. The transaction price is allocated among the performance obligations on a relative standalone selling price basis, and the applicable revenue recognition criteria are applied to each of the separate performance obligations. Standalone selling prices may be estimated via methods that include, but are not limited to, an adjusted market assessment approach, an expected cost-plus-margin approach or a residual approach. Determining the standalone selling price for performance obligations requires significant judgment. The Company records deferred revenues when payments are received or due in advance of its performance. Deferred revenues are primarily from the Company’s services arrangements and are recognized as revenues over the periods when services are performed. The Company applies judgment in determining whether a combined performance obligation is satisfied at a point in time or over time, and, for performance obligations satisfied over time, in concluding upon the appropriate method of measuring progress to be applied for purposes of recognizing revenue. The Company evaluates the measure of progress each reporting period and, as estimates related to the measure of progress change, related revenue recognition is adjusted accordingly. Changes in the Company’s estimated measure of progress are accounted for on a cumulative catch-up basis as a change in accounting estimate and are recorded in the consolidated statement of loss and comprehensive loss in the period of adjustment. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) License fees If the license to the Company’s intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. In assessing whether a license is distinct from the other promises, the Company considers whether the collaboration partner can benefit from the license for its intended purpose without the receipt of the remaining promises, whether the value of the license is dependent on the unsatisfied promises, whether there are other vendors that could provide the remaining promises and whether it is separately identifiable from the remaining promises. For licenses that are combined with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation and whether the license is the predominant promise within the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. Development services Arrangements that include a promise for the Company to provide development services are assessed to determine whether the services are capable of being distinct, are not highly interdependent or do not significantly modify one another, and if so, the services are accounted for as a separate performance obligation as the services are provided to the customer. Otherwise, when development services are determined not to be capable of being distinct, such services are added to the performance obligation that includes the underlying license. For development services that are combined with other promises, the Company applies judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. The Company utilizes judgment to determine the appropriate method of measuring progress for purposes of recognizing revenue, which is generally an input measure such as costs incurred. Milestone payments At the inception of any contracts with a customer that includes milestone payments, which are oftentimes payable upon the successful achievement of development or regulatory events, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If the Company concludes it is highly probable that a significant revenue reversal will not occur, the associated milestone payment is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are generally not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue when (or as) the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company reassesses the probability of achievement of milestones and any related constraints, and, if necessary, adjusts the estimate of the overall transaction price on a cumulative catch-up basis. Royalty payments For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and when the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied or partially satisfied. Product sales The Company recognizes revenue from the sale of certain API and semi-finished goods, including Macrilen TM Supply chain revenue Supply chain services are contracted with fixed fees and are provided over a period of time. The Company recognizes revenue on a straight-line basis over time as it best represents the pattern of performance of the services. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Research and development expenses Research costs are expensed as incurred. Development costs are expensed as incurred, except for those that meet the criteria for deferral, in which case the costs are capitalized and amortized to operations over the estimated period of benefit. No development costs have been capitalized during any of the periods presented. Net loss per share Basic net loss per share is calculated using the weighted average number of common shares outstanding during the year. Diluted net loss per share is calculated based on the weighted average number of common shares outstanding during the year, plus the effects of dilutive common share equivalents, such as stock options, warrants and similar instruments. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method. Diluted net loss per share is equal to the basic net loss per share as the Company is in a loss position and all securities, comprised of options and warrants, would be anti-dilutive.

Critical accounting estimates a

Critical accounting estimates and judgments	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Critical accounting estimates and judgments	3. Critical accounting estimates and judgments The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of the Company’s assets, liabilities, revenues, expenses and related disclosures. Judgments, estimates and assumptions are based on historical experience, expectations, current trends and other factors that management believes to be relevant at the time at which the Company’s consolidated financial statements are prepared. Management reviews, on a regular basis, the Company’s accounting policies, assumptions, estimates and judgments in order to ensure that the consolidated financial statements are presented fairly and in accordance with IFRS. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Critical accounting estimates and assumptions are those that have a significant risk of causing material adjustment and are often applied to matters or outcomes that are inherently uncertain and subject to change. As such, management cautions that future events often vary from forecasts and expectations and that estimates routinely require adjustment. The following discusses the most significant accounting estimates and assumptions that the Company has made in the preparation of the consolidated financial statements. Accounting for contract modification The Novo notice of termination of the Novo Amendment received on August 26, 2022, as defined and discussed in note 5, was determined to be a contract modification pursuant to the provisions of IFRS 15, requiring management to apply significant judgments, including the assessment of any changes to the scope of the license agreement and assessment of whether the remaining goods or services are distinct from goods or services transferred before the modification. Any changes in the judgments or assumptions applied to account for this agreement could have a significant impact on the Company’s revenue and deferred revenue. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) License and collaboration arrangements with multiple elements The Company enters into licensing and supply agreements related to the licensing, development, supply and distribution for macimorelin in various territories. Each agreement may contain specific terms or clauses that require careful analysis by management under IFRS 15 in order to ensure the appropriate accounting treatment is reached. The agreements may include non-refundable upfront payments and licensing fees, the provision of development services, pre- and post-commercialization milestone payments, royalties on future product sales derived from such license agreements, and supply arrangements. Management analyzes each agreement and applies significant judgment to determine whether contracts entered into at or near the same time should be accounted for as a single arrangement, whether all parts of the contract are scoped into IFRS 15, to identify all performance obligations, determine whether a performance obligation is distinct or should be combined with other promised goods and services, determine and allocate the transaction price on a relative stand-alone selling price basis, determine whether a combined performance obligation is satisfied at a point in time or over time, and, for performance obligations satisfied over time, in concluding upon the appropriate method of measuring progress to be applied for purposes of recognizing revenue. Any changes in the judgments or assumptions applied can give rise to a significant impact on the Company’s revenues and deferred revenues. Impairment of goodwill The annual impairment assessment related to goodwill requires management to estimate the recoverable amount, which is the higher of an asset’s fair value less costs of disposal and value in use. Management has determined that using fair value less cost of disposal results in the higher estimated recoverable value. The carrying amount of its consolidated net assets is compared to the fair value less cost of disposal. Based on this calculation, management determined that goodwill was impaired in the year ended December 31, 2022, see note 11. Employee future benefits The determination of expenses, obligations and the Company’s share of the multi-employer plan assets associated with employee future benefits requires the use of assumptions, such as the discount rate to measure obligations, rate of pension benefit increases, the projected age of employees upon retirement and the expected rate of future compensation. Because the determination of the costs, obligations and the Company’s share of the multi-employer plan assets associated with employee future benefits requires the use of various assumptions, there is measurement uncertainty inherent in the actuarial valuation process. Actual results will differ from results that are estimated based on the aforementioned assumptions. Additional information is included in note 15 - Employee future benefits. Research and development accruals As part of the process of preparing our financial statements, management is required to estimate accrued expenses including those pertaining to the Company’s research and development expenses. This process involves reviewing open contracts and purchase orders, communicating with our personnel to identify services that have been performed on the Company’s behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has not yet been invoiced or otherwise notified of the actual cost. If the actual timing of the performance of services or the level of effort varies from management’s estimate, the Company adjusts the accrued or prepaid expense balance accordingly. Although the Company does not expect estimates to be materially different from amounts actually incurred, if those estimates of the status and timing of services performed differ from the actual status and timing of services performed, the Company may report amounts that are too high or too low in any particular period. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Recent accounting pronouncement

Recent accounting pronouncements	12 Months Ended
	Dec. 31, 2023
Recent accounting pronouncements	4. Recent accounting pronouncements New standards and amendments The Company applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after January 1, 2023 (unless otherwise stated). The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 The amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a requirement to disclose their ‘material’ accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments have had an impact on the Company’s disclosures of accounting policies, but not on the measurement, recognition or presentation of any items in the Company’s financial statements. Definition of Accounting Estimates - Amendments to IAS 8 The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and the correction of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. The amendments had no impact on the Company’s consolidated financial statements. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 The amendments to IAS 12 Income Tax narrow the scope of the initial recognition exception, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences such as leases and decommissioning liabilities. The amendments had no impact on the Company’s consolidated financial statements. New standards and interpretations not yet adopted Certain amendments to accounting standards have been published that are not mandatory for December 31, 2023 reporting periods and have not been early adopted by the Company. These amendments are not expected to have a material impact on the Company in future reporting periods and on foreseeable future transactions. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Revenue	5. Revenue Disaggregation of revenue The Company derives revenue from the transfer of goods and services over time and at a point in time in the following categories: Summary of revenue from transfer of goods and services 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ License fees 1,607 1,704 1,670 Development services 2,741 3,617 3,337 Product sales 66 57 - Royalties 31 101 68 Supply chain 53 161 185 Total 4,498 5,640 5,260 Revenues of approximately $ 4,328 5,555 5,260 The Company recorded revenue for the transfer of services over time for the year ended December 31, 2023 of $ 4,401 5,482 5,192 97 158 68 License, supply and distribution arrangements Novo Nordisk Health Care AG (“Novo”) - Macrilen™ - United States and Canada In January 2018, the Company entered into a License Agreement with Novo for the development and commercialization of macimorelin in the U.S. and Canada, which provided for, among others; a right to use license relating to the adult indication; a license for a future FDA-approved pediatric indication; and the licensee to fund costs of a pediatric clinical trial (the “DETECT-trial”) to be run by the Company with oversight from a joint steering committee. The Company was also entitled to receive a milestone payment of $ 5,000 On November 16, 2020, the Company entered into an amendment (the “Novo Amendment”) of its existing License Agreement with Novo related to the development and commercialization of macimorelin. Under the Novo Amendment, Aeterna continued to retain all rights to macimorelin outside of the U.S. and Canada and Novo agreed to make an additional upfront payment to Aeterna of $ 6,109 5,000 15 8.5 40,000 15 40,000 9,000 9,600 9,000 Novo was also granted co-ownership of the U.S. and Canadian patents and trademarks owned by Aeterna on macimorelin but will be required to transfer co-ownership in those patents back to Aeterna on the occurrence of certain termination events. The Novo Amendment also confirmed that Aeterna has the right to use the results from the DETECT-trial, if successful, to support Aeterna seeking regulatory approval and ongoing efforts to seek partnering opportunities for macimorelin in other regions outside of the two countries licensed to Novo, the U.S. and Canada. The Company allocated $ 550 470 5,559 4,530 5,754 4.7 195 0.2 5,559 4.5 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Notice of termination On August 26, 2022, Novo provided the Company with a notice of termination of the Novo Amendment. Under the terms of the Novo Amendment, the termination was effective May 23, 2023 upon the completion of a 270 day notice period (“notice period”). Upon termination, the rights and licenses granted by the Company to Novo under the Novo Amendment were returned to the Company, and the Company regained full rights to continue the clinical development and future commercialization of Macrilen™. Following the notice of termination and throughout the 270-day notice period, as per the terms of the Novo Amendment, Novo continued to fund all DETECT-trial costs up to $ 9.6 9 9.6 9 10.5 9.8 The Company concluded that the notice of termination represents a contract modification for accounting purposes. The Company further concluded that upon receipt of the notice of termination, the remaining goods and services to be performed during the notice period are considered distinct goods and services and therefore, the contract modification is to be accounted for prospectively. As of the date of receipt of the notice of termination from Novo, the Company had recognized total license fees associated with the pediatric indication of $ 1,615 1,880 3,865 4,448 7,937 7,776 2,872 2,814 5,065 4,962 Pharmanovia and Consilient Health Limited On December 7, 2020, the Company entered into an exclusive licensing agreement with Consilient Health Limited (“CH”) for the commercialization of macimorelin (the “Licensed Product”) in the European Economic Area and the United Kingdom (the “CH License Agreement”). Under the terms of the CH License Agreement, CH agreed to make a non-refundable, non-creditable upfront payment to the Company of $ 1,209 1.0 The total transaction price associated with the CH Agreement is $ 1,209 1.0 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The Company allocated the transaction price to the combined performance obligation of the license agreement and the supply agreement for the adult and pediatric indication, using the application of an adjusted market assessment approach. Revenue will be recognized over time using an outputs method based on units of Licensed Product supplied. The total units that the Company expects to supply pursuant to the CH Agreement is an estimate, based on current projections and anticipated market demand, and therefore will be a significant judgment that will be relied upon when using the outputs method to recognize revenue. During the year ended December 31, 2021, the Company has received a milestone payment of $ 226 0.2 319 0.3 On March 15, 2023, with the Company’s consent, CH entered into an assignment agreement with Pharmanovia to transfer the current licensing agreement for the commercialization of macimorelin in the European Economic Area and the United Kingdom to Pharmanovia, as well as the current supply agreement pursuant to which the Company agreed to provide the licensed product (together, the “Assignment Agreement”). Also on March 15, 2023, the Company and Pharmanovia entered into an amendment agreement, pursuant to which the Company provided its acknowledgement and consent to the Assignment Agreement and agreed to certain amended terms which do not materially differ from the previous license and supply agreement with CH. The aggregate amount of the transaction price allocated to the Company’s unsatisfied or partially unsatisfied performance obligations under the Pharmanovia Agreement as of December 31, 2023 was $ 1,629 1,591 For the year ended December 31, 2023, the Company recognized $ 52 18 nil Liabilities related to contracts with customers The Company has recognized the following deferred revenue balances related to contracts with customers: Summary of deferred revenue Current Non-Current Total December 31, 2023 Current Non-Current Total $ $ $ Novo Nordisk Health Care - - - Pharmanovia 209 1,420 1,629 NK Meditech Limited 9 124 133 Contract liabilities 218 1,544 1,762 Current Non-Current Total December 31, 2022 Current Non-Current Total $ $ $ Novo Nordisk Health Care 2,914 - 2,914 Consilient Healthcare Limited 35 1,556 1,591 NK Meditech Limited - 128 128 Contract liabilities 2,949 1,684 4,633 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Cash and cash equivalents	6. Cash and cash equivalents Schedule of cash and cash equivalents 2023 2022 December 31, 2023 2022 $ $ Cash on hand and balances with banks 34,016 50,611 Total 34,016 50,611 The Company had restricted cash equivalents amounting to $ 332 322

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Trade and other receivables	7. Trade and other receivables Summary of detailed trade and other receivables 2023 2022 December 31, 2023 2022 $ $ Trade accounts receivable 67 403 Value added tax 103 275 Other receivables 52 54 Total 222 732 During the year ended December 31, 2023, the Company recorded a write-down within other receivables of $ nil 124

Prepaid expenses and other curr

Prepaid expenses and other current assets	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Prepaid expenses and other current assets	8. Prepaid expenses and other current assets Summary of prepaid expenses and other current assets 2023 2022 December 31, 2023 2022 $ $ Prepaid insurance 250 428 Prepaid research and development 1,633 1,998 Other 59 62 Total 1,942 2,488 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Property and equipment	9. Property and equipment Components of the Company’s property and equipment are summarized below. Schedule of property and equipment Equipment Computer Equipment Right of use building Right of use vehicles Total Cost Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At January 1, 2022 199 268 623 87 1,177 Additions - 11 - 38 49 Remeasurement - - 98 18 116 Disposals - (1 ) (10 ) - (11 ) Impact of foreign exchange rate changes (11 ) (13 ) (26 ) (7 ) (57 ) At December 31, 2022 188 265 685 136 1,274 Additions 6 14 - 134 154 Remeasurement - - 103 6 109 Disposals (1 ) - - (94 ) (95 ) Impact of foreign exchange rate changes 6 7 22 4 39 At December 31, 2023 199 286 810 186 1,481 Equipment Computer Equipment Right of use building Right of use vehicles Total Accumulated Depreciation Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At January 1, 2022 181 244 493 67 985 Disposals - (1 ) (10 ) - (11 ) Depreciation 2 9 94 25 130 Impact of foreign exchange rate changes (10 ) (12 ) (21 ) (3 ) (46 ) At December 31, 2022 173 240 556 89 1,058 Disposals - - - (94 ) (94 ) Depreciation 3 13 103 50 169 Impact of foreign exchange rate changes 5 7 17 2 31 At December 31, 2023 181 260 676 47 1,164 Equipment Computer Equipment Right of use building Right of use vehicles Total Carrying amount Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At December 31, 2022 15 25 129 47 216 At December 31, 2023 18 26 134 139 317 On September 30, 2023, the Company and its landlord mutually agreed to a one-year plus 6 months’ notice extension to its existing building lease agreement for its German subsidiary, continuing such terms until March 31, 2025, resulting in a remeasurement of the building right of use asset in the amount of $ 103 98 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Intangible assets	10. Intangible assets Sale of Cetrotide trademarks to Merck On August 10, 2021, the Company entered into a trademark maintenance and assignment option agreement with ARES Trading SA, a subsidiary of Merck KGaA (“Merck”), with respect to the trademarks owned by the Company on Cetrotide® (cetrorelix acetate for injection). As consideration for having been granted the option, Merck agreed to pay the Company a total of $ 549 0.5 Impairment of intangible assets In 2022, the Company ceased its development of both the COVID-19 and Chlamydia vaccine trials. The previously capitalized upfront payments for licenses relating to these two trials of $ 212 372

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Goodwill	11. Goodwill Schedule of goodwill December 31, 2023 2022 $ $ Balance – Beginning of year - 8,130 Impairment of goodwill - (7,642 ) Impact of foreign exchange rate changes - (488 ) Balance – End of year - - As of December 31, 2022, the market capitalization of the Company was below the carrying value of its shareholders’ equity, indicating a potential impairment of goodwill and impairment of the assets of the group of CGUs. The recoverable amount of the group of CGUs was determined based on a fair value less cost of disposal (“FVLCD”) model. FVLCD was determined based on a market approach and also derived from market data, including, information from market participants regarding the price that the Company could receive in a sale of the group of CGUs. The fair value measurement is categorized as a level 2 fair value based on the inputs in the valuation techniques used. Management determined that value-in-use resulted in a lower estimated recoverable value than FVLCD. Based on the Company’s assessment, the recoverable amount of the group of CGUs was lower than the carrying value and therefore an impairment charge was recorded on its goodwill and intangible assets for an amount of $ 7,642 372 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Payables and accrued liabilitie

Payables and accrued liabilities	12 Months Ended
	Dec. 31, 2023
Miscellaneous liabilities [abstract]
Payables and accrued liabilities	12. Payables and accrued liabilities Summary of detailed information about payables and accrued liabilities 2023 2022 December 31, 2023 2022 $ $ Trade accounts payable 1,866 2,038 Accrued research and development costs 804 751 Accrued employee benefits 343 325 Payroll tax and other statutory liabilities 78 74 Other accrued liabilities 531 640 Payables and accrued liabilities 3,622 3,828

Provisions

Provisions	12 Months Ended
	Dec. 31, 2023
Provisions [abstract]
Provisions	13. Provisions Summary of provisions December 31, 2023 2022 $ $ Balance – Beginning of year 233 277 Provision recognized 404 - Utilization of provision (40 ) (28 ) Change in the provision (174 ) - Unwinding of discount and impact of foreign exchange rate changes 6 (16 ) Balances – End of the year 429 233 Current liabilities 429 45 Non-current liabilities - 188 In 2023, the Company recognized a provision of $ 404 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Lease liabilities

Lease liabilities	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
Lease liabilities	14. Lease liabilities Summary of lease liabilities December 31, 2023 2022 $ $ Balance – Beginning of year 179 161 Additions 134 38 Interest paid as charged to net loss as other finance costs (13 ) (4 ) Payment against lease liabilities (151 ) (134 ) Modification of lease liability 108 114 Impact of foreign exchange rate changes 22 4 Balances – End of the year 279 179 Current lease liabilities 160 114 Non-current lease liabilities 119 65 The Company and its landlord mutually agreed to a one-year plus 6 months’ notice extension to its existing building lease agreement for its German subsidiary, continuing such terms until March 31, 2025, resulting in a remeasurement of the lease liability in the amount of $ 103 98 Future lease payments as of December 31, 2023, are as follows: Summary of future lease payments Amount $ Less than 1 year 160 1 – 3 years 102 4 – 5 years 17 Total 279

Employee future benefits

Employee future benefits	12 Months Ended
	Dec. 31, 2023
Employee Future Benefits
Employee future benefits	15. Employee future benefits The Company has partially funded and unfunded defined benefit multi-employer pension plans and unfunded post-employment benefit plans in Germany. The plans are final salary pension plans, which provide benefits to members (or to their surviving dependents) in the form of a guaranteed level of pension payable for life. The level of benefits provided depends on the members’ length of service and their salary in the final years leading up to retirement. These plans are governed by the employment laws of Germany, which generally require final salary payments of each plan to be adjusted every third year for either an inflationary increase or a set 1 Since the pension liability is adjusted for either an increase in inflation or a set 1 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The change in the Company’s accrued benefit obligations associated with the employee future benefit obligation is summarized for the years ended: Summary of net defined benefit liability asset $ $ $ $ December 31, 2023 2022 Pension Other benefit plans benefit plans Total Total $ $ $ $ Change in plan liabilities Balances – Beginning of the year 21,657 93 21,750 29,412 Current service cost (residual value) 123 (3 ) 120 142 Interest cost 803 4 807 295 Actuarial loss (gain) arising from changes in financial assumptions 1,210 3 1,213 (5,915 ) Benefits paid (814 ) (1 ) (815 ) (752 ) Impact of foreign exchange rate changes 643 2 645 (1,432 ) Balances – End of the year 23,622 98 23,720 21,750 Change in plan assets Balances – Beginning of the year 10,591 - 10,591 11,927 Interest income from plan assets 396 - 396 120 Employer contributions 36 - 36 45 Employee contributions 13 - 13 10 Benefits paid (266 ) - (266 ) (247 ) Remeasurement of plan assets 15 - 15 (641 ) Impact of foreign exchange rate changes 318 - 318 (623 ) Balances – End of the year 11,103 - 11,103 10,591 Net liability of the unfunded plans 11,584 98 11,682 10,787 Net liability of the funded plans 935 - 935 372 Net amount recognized as Employee future benefits 12,519 98 12,617 11,159 Amounts recognized: In net loss 517 3 520 295 Actuarial gain (loss) on defined benefit plans and remeasurement of the net defined benefit liability in other comprehensive (gain) loss (1,195 ) - (1,195 ) 5,262 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The fair values of each major class of the Company’s proportionate share of the multi-employer pension plan assets are as follows: Summary of proportionate share of multi-employer pension plan assets 2023 2022 December 31, 2023 2022 $ $ Cash and cash equivalents (level 1) 225 46 Debt instruments (level 1) 6,357 6,302 Equity instruments (level 1) 1,219 846 Real estate (level 3) 2,692 2,079 Other (level 3) 610 1,318 Total of pension plan assets 11,103 10,591 The significant actuarial assumptions applied to determine the Company’s accrued benefit obligations are as follows: Summary of actuarial assumptions applied to benefit obligations Actuarial assumptions 2023 2022 2021 2023 2022 2021 Pension Benefit Plans Other benefit plans Years ended December 31, Years ended December 31, Actuarial assumptions 2023 2022 2021 2023 2022 2021 % % % % % % Discount rate 3.30 3.75 1.10 3.30 3.75 1.10 Pension benefits increase 2.00 2.00 0.50 2.00 2.00 0.50 Rate of compensation increase 2.50 2.50 2.50 2.50 2.50 2.50 Assumptions regarding future mortality are set based on actuarial advice in accordance with published statistics and experience in Germany. These assumptions translate into an average remaining life expectancy in years for a pensioner retiring at age 65 Summary of pensioner retiring age December 31, 2023 2022 2021 Years Years Years Retiring at the end of the reporting period: Male 21 21 21 Female 24 24 24 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) In accordance with the assumptions used as of December 31, 2023, undiscounted defined pension benefits expected to be paid are as follows: Summary of undiscounted defined pension benefits Amount $ 2024 871 2025 881 2026 923 2027 1,098 2028 1,123 Thereafter 36,144 Total 41,040 The weighted average duration of the defined benefit obligation is 14.5 14.4 If variations in the following assumptions had occurred during 2023, the impact on the Company’s pension benefit obligation of $ 23,622 Summary of impact on pension benefit obligation Assumption Increase Decrease Change in discount rate of 0.25% (809 ) 855 Change in discount rate of 0.25 (809 ) 855 Change in salary rate of 0.25 17 (16 ) Change in pension rate assumption by 0.25 506 (485 ) Change mortality by one year 1,160 (1,160 ) Total expenses for the defined benefit plan that the Company accounts for as a defined contribution plan amounted to approximately $ 18 20 45

Share Capital

Share Capital	12 Months Ended
	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Share Capital	16. Share Capital Authorized The Company has unlimited number of common shares (being voting and participating shares) with no par value, as well as an unlimited number of preferred, first and second ranking shares, issuable in series, with rights and privileges specific to each class, with no par value. Shareholder rights plan Effective May 8, 2019, the shareholders re-approved the Company’s shareholder rights plan (the “Rights Plan”) that provides the board of directors and the Company’s shareholders with additional time to assess any unsolicited take-over bid for the Company and, where appropriate, to pursue other alternatives for maximizing shareholder value. Under the Rights Plan, one right has been issued for each currently issued common share, and one right will be issued with each additional common share that may be issued from time to time. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Summary of share capital Issued and outstanding Common shares Amount # $ Balance – December 31, 2020 2,507,145 235,008 Issuance of common shares, net of transaction costs 943,448 29,082 Exercise of warrants, net of issuance costs upon exercise 1,404,443 29,301 Exercise of deferred share units 840 19 Balance – December 31, 2021 4,855,876 293,410 - - Balance – December 31, 2022 4,855,876 293,410 - - Balance – December 31, 2023 4,855,876 293,410 On July 15, 2022, the Company’s shareholders and board of directors approved an amendment to the Company’s articles of incorporation to effect a 1-for-25 1-for-25 2021 On February 19, 2021, the Company completed an underwritten public offering of 820,390 36.25 29,739 2,837 123,058 36.25 57,427 45.31 February 17, 2026 On February 22, 2021, the Underwriter exercised the Underwriter Option and received 123,058 4,461 8,614 34,200 3,221 1,897 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Warrants

Warrants	12 Months Ended
	Dec. 31, 2023
Warrants
Warrants	17. Warrants Warrant activity for the years ended December 31, 2023, 2022 and 2021, was as follows: Summary of warrants activity reclassified equity Number Weighted average exercise price Amount # $ $ December 31, 2020 1,796,050 17.79 12,402 Granted 66,041 45.31 1,897 Exercised (1,404,443 ) 14.31 (9,746 ) Allocation of transaction costs to share capital - - 532 December 31, 2021 457,648 21.76 5,085 - - - December 31, 2022 457,648 21.76 5,085 - - - December 31, 2023 457,648 21.76 5,085 The fair values of warrants are estimated using the Black-Scholes option pricing model. The weighted average assumptions used in the Black-Scholes valuation model for the year presented were as follows: Summary of fair values of warrants assumptions December 31, 2021 Expected dividend yield - Expected volatility 119.18 % Risk-free annual interest rate 0.59 % Expected life (years) 4.99 Weighted average share price $ 37.00 Weighted average exercise price $ 45.31 The expected volatility of these warrants was determined using historical volatility rates and the expected life was determined based on time to expiry from the issuance date. At December 31, 2023, the following warrants were outstanding: Schedule of warrants outstanding Warrant issuance Number Weighted average remaining contractual life Weighted average exercise price # years $ September 2019 53,000 0.73 41.25 February 2020 44,521 1.64 32.28 July 2020 224,845 1.51 11.25 August 2020 69,241 2.10 11.75 February 2021 66,041 2.14 45.31 457,648 1.61 21.76 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Contributed Surplus

Contributed Surplus	12 Months Ended
	Dec. 31, 2023
Surplus (deficit) in plan [abstract]
Contributed Surplus	18. Contributed Surplus At the 2018 annual and special meeting of shareholders, the Company’s shareholders approved the adoption of the 2018 long-term incentive plan (the “LTIP”), which allows the Board of Directors to issue up to 11.4 10 seven years Stock options The Company settles stock options exercised through the issuance of new common shares as opposed to purchasing common shares on the market to settle stock option exercises. The compensation expense for the year end December 31, 2023, was $ 94 142 107 Summary of number and weighted average exercise prices of share options Number Weighted average exercise price # $ December 31, 2020 20,256 36.43 Granted 23,200 10.51 Expired (1 ) 14,000.00 December 31, 2021 43,455 21.95 Granted 2,000 8.88 Canceled/Forfeited (2,900 ) 14.49 Expired (525 ) 165.08 December 31, 2022 42,030 20.05 Granted 14,000 3.75 Expired (2,630 ) 86.37 December 31, 2023 53,400 12.51 On January 17, 2023, the Company granted 14,000 3.75 seven years vest over a period of three years Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The table below shows the assumptions, or weighted average parameters, applied to the Black-Scholes option pricing model in order to determine share-based compensation costs over the life of the awards. Summary of assumptions to determine share-based compensation costs over the life of awards December 31, 2023 2022 2021 Expected dividend yield - - - Expected volatility 104.46 % 115.75 % 115.80 % Risk-free annual interest rate 3.56 % 1.59 % 1.23 % Expected life (years) 5.45 5.72 5.71 Weighted average share price $ 3.75 $ 8.88 $ 10.51 Weighted average exercise price $ 3.75 $ 8.88 $ 10.51 Weighted average grant date fair value $ 2.99 $ 7.47 $ 8.82 The expected volatility of these stock options was determined using historical volatility rates and the expected life was determined using the weighted average life of past options issued. At December 31, 2023, the following options were outstanding: Schedule of stock options exercise price range Options outstanding Options exercisable Range of stock option exercise prices Number Weighted average remaining contractual life Weighted average exercise price Number Weighted average remaining contractual life Weighted average exercise price # years $ # years $ 3.75 8.87 14,000 6.05 3.75 - 8.88 10.00 8,800 4.20 9.09 7,467 4.05 9.13 10.01 20.00 21,200 4.96 10.51 14,141 4.96 10.51 20.01 30.00 6,000 2.91 22.68 6,000 2.91 22.68 30.01 53.75 3,400 1.21 51.99 3,400 1.21 51.99 53,400 4.65 12.51 31,008 3.94 17.08 Deferred share units The compensation expense for the year end December 31, 2023, was $ 284 402 204 Summary of number and weighted average exercise prices of deferred shares units December 31, 2023 2022 2021 # # # Balance – Beginning of the year 96,920 16,920 6,920 Granted 100,000 80,000 11,200 Exercised - - (1,200 ) Balance – End of the year 196,920 96,920 16,920 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2023
Expenses by nature [abstract]
Expenses by nature	19. Expenses by nature Summary of expense by nature 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Inventory expensed during the year 45 54 - Provision for obsolete inventory 133 32 - Third-party research and development 11,664 11,244 5,534 Salaries, wages and benefits 4,260 3,563 3,037 Professional and consulting fees 3,504 2,475 2,570 Insurance 1,184 1,687 1,077 Stock-based compensation 378 544 311 Software and IT services 523 386 387 Depreciation and amortization 170 135 144 Marketing, communications and investor relations 274 317 289 Travel, meals and entertainment 276 225 111 Office, rent and telecommunications 171 120 162 License fees 10 19 139 Other (86 ) 92 170 Impairment of goodwill - 7,642 - Impairment of other assets - 124 - Impairment of intangible assets - 584 - Expenses 22,506 29,243 13,931

Supplemental disclosure of cash

Supplemental disclosure of cash flow information	12 Months Ended
	Dec. 31, 2023
Supplemental Disclosure Of Cash Flow Information
Supplemental disclosure of cash flow information	20. Supplemental disclosure of cash flow information Summary of changes in operating assets and liabilities 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Changes in operating assets and liabilities: Trade and other receivables 147 592 120 Inventory 162 (161 ) (56 ) Prepaid expenses and other current assets 589 (783 ) (750 ) Payables and accrued liabilities 76 1,076 634 Income taxes payable - - (109 ) Deferred revenues (1,313 ) 441 3,010 Deferred gain (110 ) - - Provisions (14 ) (2 ) - Employee future benefits (573 ) (559 ) (349 ) Increase (decrease) in operating assets and liabilities (1,036 ) 604 2,500 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income taxes	21. Income taxes Significant components of the current and deferred income tax recovery for the years ended December 31, 2023, 2022 and 2021 are as follows: Summary of significant components of current and deferred income tax recovery (expense) 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Current income tax recovery - - 109 Deferred tax: Origination and reversal of temporary differences 3,706 2,885 1,291 Change in unrecognized tax assets (3,706 ) (2,885 ) (1,291 ) Total income tax recovery - - 109 From time to time, the Company is subject to tax audits. While the Company believes that its filing positions are appropriate and supportable, periodically, certain matters are challenged by tax authorities. Although the Company believes its tax provisions are adequate, the final determination of tax audits and any related disputes could be materially different from historical income tax provisions and accruals. In 2019, AEZS Germany underwent a tax audit regarding the taxation years 2013 to 2016. As of December 31, 2023 and 2022, the tax authorities concluded the audit for those years. The subsequent years remain unaudited, and the Company has accrued $ 108 The reconciliation of the combined Canadian federal and provincial corporate income tax rate to the income tax expense for the years ended December 31, 2023, 2022 and 2021 is provided below: Summary of reconciliation of combined canadian federal and provincial income tax rate to income tax expense December 31, 2023 2022 2021 Combined Canadian federal and provincial statutory income tax rate 26.50 % 26.50 % 26.50 % 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Income tax recovery based on combined statutory income tax rate 4,273 6,023 2,246 Change in unrecognized tax assets (3,706 ) (2,885 ) (1,291 ) Share issuance costs - - 367 Permanent difference attributable to impairment of goodwill - (2,407 ) - Impact of expiring investment tax credits (1,156 ) (1,559 ) (1,724 ) Provision to filed return adjustments - 106 151 Share-based compensation costs (100 ) (144 ) (82 ) Difference in statutory income tax rate of foreign subsidiaries 521 902 226 Other 168 (36 ) 216 Total income tax recovery (expense) - - 109 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Loss before income taxes is attributable to the Company’s tax jurisdictions for the years ended December 31, 2023, 2022 and 2021. as follows: Summary of (loss) income before income taxes 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Germany (10,935 ) (16,756 ) (4,383 ) Canada (5,371 ) (5,679 ) (3,860 ) United States (246 ) (292 ) (234 ) Total loss before income taxes (16,552 ) (22,727 ) (8,477 ) Significant components of deferred tax assets and liabilities are as follows: Summary of significant components of deferred tax assets and liabilities 2023 2022 December 31, 2023 2022 $ $ Deferred tax assets Operating losses carried forward 143 582 Deferred tax assets 143 582 Deferred tax liabilities Payables and accrued liabilities - 450 Property and equipment 86 55 Other 57 77 Deferred tax liabilities 143 582 Deferred tax assets (liabilities), net - - Significant components of unrecognized deferred tax assets and losses are as follows: Summary of significant components of unrecognized deferred tax assets 2023 2022 December 31, 2023 2022 $ $ Deferred revenues and other provisions 53 1,475 Operating losses carried forward 96,866 87,445 Capital losses carried forward 210 210 SR&ED Pool 9,138 9,138 Unused tax credits 1,788 1,559 Employee future benefits 1,784 1,317 Property and equipment 524 524 Intangible assets 104 95 Share issuance expenses 453 781 Other 388 294 Unrecognized deferred tax assets 111,768 102,838 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) Deferred income tax assets are recognized to the extent that the realization of the related tax benefit through reversal of temporary differences and future taxable profits is probable. Based on the current forecasted future taxable profits and reversal of temporary differences, the company does not believe it will have sufficient future earnings to offset the deferred tax assets and has an unrecognized deferred tax asset balance of $ 111,768 As of December 31, 2023, the Company has a total accumulated non-capital losses of $ 90,436 89,114 Summary of disclosure of federal tax losses Canada Federal Canada Provincial $ $ 2028 8,054 6,668 2029 4,791 4,773 2030 4,104 4,089 2031 1,753 1,737 2032 4,250 4,250 2033 3,721 3,721 2034 4,153 4,153 2035 10,418 10,452 2036 10,592 10,592 2037 7,343 7,343 2038 6,557 6,557 2039 3,501 3,501 2040 3,808 3,808 2041 4,822 4,822 2042 6,367 6,367 2043 6,202 6,202 90,436 89,114 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The Company has non-refundable R&D investment tax credits of approximately $ 1,778 225,296 203,833 5,342 United States $ 2028 369 2029 178 2034 151 2035 447 2036 195 2037 709 Indefinite 1,224 indefinite 771 indefinite 516 indefinite 244 Indefinite 292 indefinite 246 5,342 The operating loss carryforwards and the tax credits claimed are subject to review, and potential adjustment, by tax authorities. Other deductible temporary differences for which tax assets have not been booked are not subject to a time limit, except for share issuance expenses which are amortizable over five years.

Capital management

Capital management	12 Months Ended
	Dec. 31, 2023
Capital Management
Capital management	22. Capital management The Company’s objective in managing capital, consisting of shareholders’ equity, with cash and cash equivalents and restricted cash equivalents being its primary components, is to ensure sufficient liquidity to fund R&D costs, selling expenses, general and administrative expenses and working capital requirements. Historically, the Company has raised capital via public and private equity offerings and issuances as its primary source of liquidity, as discussed in note 23. The capital management objective of the Company remains the same as that in previous periods. The policy on dividends is to retain cash to keep funds available to finance the activities required to advance the Company’s product development portfolio and to pursue appropriate commercial opportunities as they may arise. The Company is not subject to any capital requirements imposed by any regulators or by any other external source. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Financial instruments and finan

Financial instruments and financial risk management	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Financial instruments and financial risk management	23. Financial instruments and financial risk management Financial assets and liabilities as of December 31, 2023, and 2022 are presented below. Disclosure of fair value measurement of assets December 31, 2023 Financial assets at amortized cost Financial liabilities at amortized cost $ $ Cash and cash equivalents 34,016 - Trade and other receivables 67 - Restricted cash equivalents 332 - Payables and accrued liabilities - 3,544 Lease liability - 160 34,415 3,704 December 31, 2022 Financial assets at amortized cost Financial liabilities at amortized cost $ $ Cash and cash equivalents 50,611 - Trade and other receivables 457 - Restricted cash equivalents 322 - Payables and accrued liabilities - 3,752 Lease liability - 179 51,390 3,931 The Company assessed that the fair values of cash and cash equivalents, trade receivables and other receivables, restricted cash equivalents, payables and accrued liabilities and lease liability approximate their carrying amounts largely due to the short-term maturities of these instruments. Assets and liabilities, such as value added taxes, that are not contractual and that arise as a result of statutory requirements imposed by governments, do not meet the definition of financial assets or financial liabilities and are, therefore, excluded from trade and other receivables and payables and accrued liabilities. Financial risk factors The following provides disclosures relating to the nature and extent of the Company’s exposure to risks arising from financial instruments, including credit risk, liquidity risk and foreign exchange risk and how the Company manages those risks. (a) Credit risk Credit risk is the risk of an unexpected loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company regularly monitors credit risk exposure and takes steps to mitigate the likelihood of this exposure resulting in losses. The Company’s exposure to credit risk currently relates to the financial assets at amortized cost in the table above. The Company holds its available cash in amounts that are readily convertible to known amounts of cash and deposits its cash balances with financial institutions that have an investment grade rating of at least “P-2” or the equivalent. This information is supplied by independent rating agencies where available and, if not available, the Company uses publicly available financial information to ensure that it invests its cash in creditworthy and reputable financial institutions. Once there are indicators that there is no reasonable expectation of recovery, such financial assets are written off but are still subject to enforcement activity. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) As of December 31, 2023, two counterparties included in trade accounts receivable comprised a total receivable of approximately $ 67 403 nil nil Generally, the Company does not require collateral or other security from customers for trade accounts receivable; however, credit is extended following an evaluation of creditworthiness. In addition, the Company performs ongoing credit reviews of all of its customers and determines expected credit losses. On this basis, as of December 31, 2023, the Company has provided for all outstanding and unpaid amounts relating to its operations. The maximum exposure to credit risk approximates the amount recognized in the Company’s consolidated statement of financial position. (b) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company manages this risk through the management of its capital structure by monitoring rolling forecasts of the Company’s cash and cash equivalents on the basis of expected cash flows. Management concluded that the Company has sufficient cash on hand to meet its obligations as they become due for the next 12 months, considering the Company’s planned research and development activities, selling, general and administrative expenses and working capital requirements. The Company has the ability to scale its research and development activities, and will do so as necessary, based on cash availability. While the Company has $ 34,016 All of the Company’s financial liabilities except lease liabilities are current liabilities with expected settlement dates within one year. The maturity analysis for lease liabilities is disclosed in note 14. (c) Foreign exchange risk Entities using the Euro as their functional currency The Company is exposed to foreign exchange risk due to its investments in foreign operations whose functional currency is the Euro. As of December 31, 2023, if the US dollar had increased or decreased by 10% against the Euro 1,055 823 300 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Segment information

Segment information	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Segment information	24. Segment information The Company operates in a single Geographical information Revenues by geographical area have been allocated to geographic regions based on the country of residence of the Company’s external customers or licensees and are detailed as follows: Summary of revenues by geographical area 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ Switzerland 4,317 5,395 5,075 Ireland 122 82 - Denmark 11 160 185 Other 48 3 - Revenue 4,498 5,640 5,260 Non-current assets include restricted cash equivalents and property and equipment, and are detailed by geographical area as follows: Summary of non-current assets by geographical area 2023 2022 December 31, 2023 2022 $ $ Germany 575 463 Canada 3 4 United States 71 71 Non Current Assets 649 538 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Net loss per share

Net loss per share	12 Months Ended
	Dec. 31, 2023
Net Loss Per Share
Net loss per share	25. Net loss per share The following table sets forth pertinent data relating to the computation of basic and diluted net loss per share attributable to common shareholders. Summary of pertinent data relating to computation of basic and diluted net loss per share 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ Net loss (16,552 ) (22,727 ) (8,368 ) Basic and diluted weighted-average number of shares outstanding 4,855,876 4,855,876 4,596,980 Basic and diluted loss per share (3.41 ) (4.68 ) (1.82 ) Items excluded from the calculation of diluted net loss per share due to their anti-dilutive effect: Stock options and DSUs 250,320 138,950 60,375 Share purchase warrants 457,648 457,648 457,648

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments
Commitments	26. Commitments Significant expenditure contracted for at the end of the reporting period but not recognized as liabilities is as follows: Schedule of expected future minimum lease payments Amount $ Less than 1 year 5,634 1 – 5 years 71 Total 5,705 In 2021, the Company executed various agreements including in-licensing and similar arrangements with development partners. Such agreements may require the Company to make payments on achievement of stages of development, launch or revenue milestones, although the Company generally has the right to terminate these agreements at no penalty. The Company may have to pay up to $ 39,373 Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)

Related party disclosures

Related party disclosures	12 Months Ended
	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
Related party disclosures	27. Related party disclosures Compensation of key management Key management includes the Company’s Directors, Chief Executive Officer, Chief Financial Officer, Chief Scientific Officer and Chief Medical Officer. Compensation awarded to key management is summarized as follows: Schedule of compensation for key management 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Salaries and short-term benefits 2,025 1,848 1,646 Consultant’s fees - 17 163 Post-retirement benefits 37 63 70 Stock-based compensation 284 460 295 Compensation of key management 2,346 2,388 2,174 Most of the employment agreements entered into between the Company and its executive officers include termination provisions, whereby the executive officers would be entitled to receive benefits that would be payable if the Company were to terminate the executive officers’ employment without cause or if their employment is terminated following a change of control. Separation benefits generally are calculated based on an agreed-upon multiple of applicable base salary and incentive compensation and, in certain cases, other benefit amounts.

Subsequent event

Subsequent event	12 Months Ended
	Dec. 31, 2023
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent event	28. Subsequent event On December 14, 2023, the Company and Ceapro Inc. (“Ceapro”) jointly announced the signing of a definitive agreement to combine their operations in an all-stock merger of equals. Pursuant to the agreement, the transaction will be effected by way of a plan of arrangement under the Canada Business Corporations Act pursuant to which, at closing, each outstanding Ceapro common share will be exchanged for 0.09439 0.47698 0.01 Following the closing of the Transaction, the former shareholders of Ceapro will own 50% of Aeterna and the pre-transaction securityholders of Aeterna will own the remaining 50%, assuming the exercise of all Transaction Warrants.

Summary of material accountin_2

Summary of material accounting policies (Policies)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of unrestricted cash on hand and balances with banks, as well as short-term interest-bearing deposits, such as money market accounts, that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value, with a maturity of three months or less from the date of acquisition.
Goodwill	Goodwill Goodwill is recognized as the fair value of the consideration transferred, in a business combination, including the recognized amount of any non-controlling interest in the acquiree, less the fair value of the net identifiable assets acquired, and liabilities assumed, as of the acquisition date. Subsequent to initial recognition, goodwill is measured at cost less accumulated impairment losses. Goodwill acquired in business combinations is allocated to groups of cash generating units (“CGU”) that are expected to benefit from the synergies of the combination. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)
Impairment of long-lived assets	Impairment of long-lived assets Items of property and equipment and identifiable intangible assets with finite lives that are subject to depreciation or amortization, respectively, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be recoverable. Intangible assets that are not subject to amortization are tested when there are indications that their carrying value may not be recoverable, or, at a minimum, annually. Goodwill is not subject to amortization, but instead is tested for impairment annually or more often if there is an indication that the group of CGUs to which the goodwill has been allocated may be impaired. Impairment is determined for goodwill by assessing whether the carrying value of the group of CGUs, including the allocated goodwill, exceeds the group of CGU’s recoverable amount, which is the higher of fair value less costs of disposal and the group of CGU’s value in use. Fair value less costs of disposal is determined based on a market approach and also derived from market data, including, information from market participants regarding the price that the Company could receive in a sale of the group of CGUs. Value in use is determined based on cash flow projections from financial budgets approved by senior management covering a five-year period. The estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the group of CGUs. In the event that the carrying amount of the group of CGU’s, including the allocated goodwill exceeds its recoverable amount, an impairment loss is recognized in an amount equal to the excess. Impairment losses related to goodwill, which are recorded in the consolidated statement of loss and comprehensive loss, are not subsequently reversed.
Post-employment benefits	Post-employment benefits The Company has partially funded and unfunded defined benefit multi-employer pension plans, namely the DUPK pension plan and the RUK 1990 and 2006 pension plans, (the “Pension Benefit Plans”) and unfunded post-employment benefit plans in Germany. Provisions for pension obligations are established for benefits payable in the form of retirement, disability and surviving dependent pensions. The Company also provides defined contribution plans to some of its employees. For defined benefit pension plans and other post-employment benefits, net periodic pension expense is actuarially determined on a quarterly basis using the projected unit credit method. The cost of pension and other benefits earned by employees is determined by applying certain assumptions, including discount rates, rate of pension benefit increases, the projected age of employees upon retirement and the expected rate of future compensation. The employee future benefits liability is recognized at its present value, which is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid and that have terms to maturity approximating the terms of the related future benefit liability. Actuarial gains and losses that arise in calculating the present value of the defined benefit obligation are recognized in other comprehensive loss, net of tax, and simultaneously reclassified in the deficit in the consolidated statement of financial position in the year in which the actuarial gains and losses arise and without recycling to the consolidated statement of loss and comprehensive loss in subsequent periods.
Share-based compensation costs	Share-based compensation costs The Company operates an equity-settled share-based compensation plan under which the Company receives services from directors, senior executives, employees and other collaborators as consideration for equity instruments of the Company. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) The Company grants deferred share units (“DSUs”) to members of its Board of Directors who are not employees or officers of the Company. DSUs cannot be redeemed until the holder is no longer a director of the Company and are considered equity-settled instruments. Under the terms of the DSU agreement, the DSUs vest immediately upon grant. The value attributable to the DSUs is based on the market value of the share price at the time of grant and share based compensation expense is recognized in general and administrative expenses in the consolidated statement of loss and comprehensive loss. At the time of redemption, each DSU may be exchanged for one common share of the Company, net of applicable holding taxes. Any consideration received by the Company in connection with the exercise of DSUs is credited to share capital. Any other capital component of the share-based compensation is transferred to share capital upon the issuance of shares.
Revenue recognition	Revenue recognition The Company generates revenue from license and collaboration agreements with customers (license fees, milestone revenue, royalties), the provision of development services, the sale of certain active pharmaceutical ingredients (“API”), semi-finished goods and finished goods, and from certain supply chain activities, which are comprised largely of oversight or supervisory support services related to stability studies or development activities carried out with respect to API batch production as specified in underlying contracts with customers. IFRS 15 prescribes a five-step framework through which revenue is recognized when control of promised goods or services is transferred to a customer at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Goods and services that are determined not to be distinct are combined with other promised goods or services until a distinct bundle is identified. The Company allocates the transaction price (the amount of consideration to which the Company expects to be entitled in exchange for the promised goods or services) to each performance obligation and recognizes the associated revenue when (or as) each performance obligation is satisfied. The Company’s estimate of the transaction price for each contract includes all variable consideration to which the Company expects to be entitled, and that estimate is reassessed at the end of each reporting period. When two or more contracts are entered into with the same customer at or near the same time, the Company evaluates the contracts to determine whether the contracts should be accounted for as a single arrangement. The transaction price is allocated among the performance obligations on a relative standalone selling price basis, and the applicable revenue recognition criteria are applied to each of the separate performance obligations. Standalone selling prices may be estimated via methods that include, but are not limited to, an adjusted market assessment approach, an expected cost-plus-margin approach or a residual approach. Determining the standalone selling price for performance obligations requires significant judgment. The Company records deferred revenues when payments are received or due in advance of its performance. Deferred revenues are primarily from the Company’s services arrangements and are recognized as revenues over the periods when services are performed. The Company applies judgment in determining whether a combined performance obligation is satisfied at a point in time or over time, and, for performance obligations satisfied over time, in concluding upon the appropriate method of measuring progress to be applied for purposes of recognizing revenue. The Company evaluates the measure of progress each reporting period and, as estimates related to the measure of progress change, related revenue recognition is adjusted accordingly. Changes in the Company’s estimated measure of progress are accounted for on a cumulative catch-up basis as a change in accounting estimate and are recorded in the consolidated statement of loss and comprehensive loss in the period of adjustment. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted) License fees If the license to the Company’s intellectual property is determined to be distinct from the other promises or performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. In assessing whether a license is distinct from the other promises, the Company considers whether the collaboration partner can benefit from the license for its intended purpose without the receipt of the remaining promises, whether the value of the license is dependent on the unsatisfied promises, whether there are other vendors that could provide the remaining promises and whether it is separately identifiable from the remaining promises. For licenses that are combined with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation and whether the license is the predominant promise within the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue. Development services Arrangements that include a promise for the Company to provide development services are assessed to determine whether the services are capable of being distinct, are not highly interdependent or do not significantly modify one another, and if so, the services are accounted for as a separate performance obligation as the services are provided to the customer. Otherwise, when development services are determined not to be capable of being distinct, such services are added to the performance obligation that includes the underlying license. For development services that are combined with other promises, the Company applies judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time. The Company utilizes judgment to determine the appropriate method of measuring progress for purposes of recognizing revenue, which is generally an input measure such as costs incurred. Milestone payments At the inception of any contracts with a customer that includes milestone payments, which are oftentimes payable upon the successful achievement of development or regulatory events, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If the Company concludes it is highly probable that a significant revenue reversal will not occur, the associated milestone payment is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are generally not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue when (or as) the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company reassesses the probability of achievement of milestones and any related constraints, and, if necessary, adjusts the estimate of the overall transaction price on a cumulative catch-up basis. Royalty payments For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and when the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied or partially satisfied. Product sales The Company recognizes revenue from the sale of certain API and semi-finished goods, including Macrilen TM Supply chain revenue Supply chain services are contracted with fixed fees and are provided over a period of time. The Company recognizes revenue on a straight-line basis over time as it best represents the pattern of performance of the services. Aeterna Zentaris Inc. Notes to Consolidated Financial Statements As of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 (in thousands of US dollars, except share and per share data and where otherwise noted)
Research and development expenses	Research and development expenses Research costs are expensed as incurred. Development costs are expensed as incurred, except for those that meet the criteria for deferral, in which case the costs are capitalized and amortized to operations over the estimated period of benefit. No development costs have been capitalized during any of the periods presented.
Net loss per share	Net loss per share Basic net loss per share is calculated using the weighted average number of common shares outstanding during the year. Diluted net loss per share is calculated based on the weighted average number of common shares outstanding during the year, plus the effects of dilutive common share equivalents, such as stock options, warrants and similar instruments. The number of shares included with respect to options, warrants and similar instruments is computed using the treasury stock method. Diluted net loss per share is equal to the basic net loss per share as the Company is in a loss position and all securities, comprised of options and warrants, would be anti-dilutive.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Summary of revenue from transfer of goods and services	The Company derives revenue from the transfer of goods and services over time and at a point in time in the following categories: Summary of revenue from transfer of goods and services 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ License fees 1,607 1,704 1,670 Development services 2,741 3,617 3,337 Product sales 66 57 - Royalties 31 101 68 Supply chain 53 161 185 Total 4,498 5,640 5,260
Summary of deferred revenue	The Company has recognized the following deferred revenue balances related to contracts with customers: Summary of deferred revenue Current Non-Current Total December 31, 2023 Current Non-Current Total $ $ $ Novo Nordisk Health Care - - - Pharmanovia 209 1,420 1,629 NK Meditech Limited 9 124 133 Contract liabilities 218 1,544 1,762 Current Non-Current Total December 31, 2022 Current Non-Current Total $ $ $ Novo Nordisk Health Care 2,914 - 2,914 Consilient Healthcare Limited 35 1,556 1,591 NK Meditech Limited - 128 128 Contract liabilities 2,949 1,684 4,633

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of cash and cash equivalents	Schedule of cash and cash equivalents 2023 2022 December 31, 2023 2022 $ $ Cash on hand and balances with banks 34,016 50,611 Total 34,016 50,611

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Summary of detailed trade and other receivables	Summary of detailed trade and other receivables 2023 2022 December 31, 2023 2022 $ $ Trade accounts receivable 67 403 Value added tax 103 275 Other receivables 52 54 Total 222 732

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Summary of prepaid expenses and other current assets	Summary of prepaid expenses and other current assets 2023 2022 December 31, 2023 2022 $ $ Prepaid insurance 250 428 Prepaid research and development 1,633 1,998 Other 59 62 Total 1,942 2,488

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of property and equipment	Components of the Company’s property and equipment are summarized below. Schedule of property and equipment Equipment Computer Equipment Right of use building Right of use vehicles Total Cost Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At January 1, 2022 199 268 623 87 1,177 Additions - 11 - 38 49 Remeasurement - - 98 18 116 Disposals - (1 ) (10 ) - (11 ) Impact of foreign exchange rate changes (11 ) (13 ) (26 ) (7 ) (57 ) At December 31, 2022 188 265 685 136 1,274 Additions 6 14 - 134 154 Remeasurement - - 103 6 109 Disposals (1 ) - - (94 ) (95 ) Impact of foreign exchange rate changes 6 7 22 4 39 At December 31, 2023 199 286 810 186 1,481 Equipment Computer Equipment Right of use building Right of use vehicles Total Accumulated Depreciation Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At January 1, 2022 181 244 493 67 985 Disposals - (1 ) (10 ) - (11 ) Depreciation 2 9 94 25 130 Impact of foreign exchange rate changes (10 ) (12 ) (21 ) (3 ) (46 ) At December 31, 2022 173 240 556 89 1,058 Disposals - - - (94 ) (94 ) Depreciation 3 13 103 50 169 Impact of foreign exchange rate changes 5 7 17 2 31 At December 31, 2023 181 260 676 47 1,164 Equipment Computer Equipment Right of use building Right of use vehicles Total Carrying amount Equipment Computer Equipment Right of use building Right of use vehicles Total $ $ $ $ $ At December 31, 2022 15 25 129 47 216 At December 31, 2023 18 26 134 139 317

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Schedule of goodwill	Schedule of goodwill December 31, 2023 2022 $ $ Balance – Beginning of year - 8,130 Impairment of goodwill - (7,642 ) Impact of foreign exchange rate changes - (488 ) Balance – End of year - -

Payables and accrued liabilit_2

Payables and accrued liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Miscellaneous liabilities [abstract]
Summary of detailed information about payables and accrued liabilities	Summary of detailed information about payables and accrued liabilities 2023 2022 December 31, 2023 2022 $ $ Trade accounts payable 1,866 2,038 Accrued research and development costs 804 751 Accrued employee benefits 343 325 Payroll tax and other statutory liabilities 78 74 Other accrued liabilities 531 640 Payables and accrued liabilities 3,622 3,828

Provisions (Tables)

Provisions (Tables)	12 Months Ended
	Dec. 31, 2023
Provisions [abstract]
Summary of provisions	Summary of provisions December 31, 2023 2022 $ $ Balance – Beginning of year 233 277 Provision recognized 404 - Utilization of provision (40 ) (28 ) Change in the provision (174 ) - Unwinding of discount and impact of foreign exchange rate changes 6 (16 ) Balances – End of the year 429 233 Current liabilities 429 45 Non-current liabilities - 188

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
Summary of lease liabilities	Summary of lease liabilities December 31, 2023 2022 $ $ Balance – Beginning of year 179 161 Additions 134 38 Interest paid as charged to net loss as other finance costs (13 ) (4 ) Payment against lease liabilities (151 ) (134 ) Modification of lease liability 108 114 Impact of foreign exchange rate changes 22 4 Balances – End of the year 279 179 Current lease liabilities 160 114 Non-current lease liabilities 119 65
Summary of future lease payments	Future lease payments as of December 31, 2023, are as follows: Summary of future lease payments Amount $ Less than 1 year 160 1 – 3 years 102 4 – 5 years 17 Total 279

Employee future benefits (Table

Employee future benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Future Benefits
Summary of net defined benefit liability asset	The change in the Company’s accrued benefit obligations associated with the employee future benefit obligation is summarized for the years ended: Summary of net defined benefit liability asset $ $ $ $ December 31, 2023 2022 Pension Other benefit plans benefit plans Total Total $ $ $ $ Change in plan liabilities Balances – Beginning of the year 21,657 93 21,750 29,412 Current service cost (residual value) 123 (3 ) 120 142 Interest cost 803 4 807 295 Actuarial loss (gain) arising from changes in financial assumptions 1,210 3 1,213 (5,915 ) Benefits paid (814 ) (1 ) (815 ) (752 ) Impact of foreign exchange rate changes 643 2 645 (1,432 ) Balances – End of the year 23,622 98 23,720 21,750 Change in plan assets Balances – Beginning of the year 10,591 - 10,591 11,927 Interest income from plan assets 396 - 396 120 Employer contributions 36 - 36 45 Employee contributions 13 - 13 10 Benefits paid (266 ) - (266 ) (247 ) Remeasurement of plan assets 15 - 15 (641 ) Impact of foreign exchange rate changes 318 - 318 (623 ) Balances – End of the year 11,103 - 11,103 10,591 Net liability of the unfunded plans 11,584 98 11,682 10,787 Net liability of the funded plans 935 - 935 372 Net amount recognized as Employee future benefits 12,519 98 12,617 11,159 Amounts recognized: In net loss 517 3 520 295 Actuarial gain (loss) on defined benefit plans and remeasurement of the net defined benefit liability in other comprehensive (gain) loss (1,195 ) - (1,195 ) 5,262
Summary of proportionate share of multi-employer pension plan assets	The fair values of each major class of the Company’s proportionate share of the multi-employer pension plan assets are as follows: Summary of proportionate share of multi-employer pension plan assets 2023 2022 December 31, 2023 2022 $ $ Cash and cash equivalents (level 1) 225 46 Debt instruments (level 1) 6,357 6,302 Equity instruments (level 1) 1,219 846 Real estate (level 3) 2,692 2,079 Other (level 3) 610 1,318 Total of pension plan assets 11,103 10,591
Summary of actuarial assumptions applied to benefit obligations	The significant actuarial assumptions applied to determine the Company’s accrued benefit obligations are as follows: Summary of actuarial assumptions applied to benefit obligations Actuarial assumptions 2023 2022 2021 2023 2022 2021 Pension Benefit Plans Other benefit plans Years ended December 31, Years ended December 31, Actuarial assumptions 2023 2022 2021 2023 2022 2021 % % % % % % Discount rate 3.30 3.75 1.10 3.30 3.75 1.10 Pension benefits increase 2.00 2.00 0.50 2.00 2.00 0.50 Rate of compensation increase 2.50 2.50 2.50 2.50 2.50 2.50
Summary of pensioner retiring age	Summary of pensioner retiring age December 31, 2023 2022 2021 Years Years Years Retiring at the end of the reporting period: Male 21 21 21 Female 24 24 24
Summary of undiscounted defined pension benefits	In accordance with the assumptions used as of December 31, 2023, undiscounted defined pension benefits expected to be paid are as follows: Summary of undiscounted defined pension benefits Amount $ 2024 871 2025 881 2026 923 2027 1,098 2028 1,123 Thereafter 36,144 Total 41,040
Summary of impact on pension benefit obligation	Summary of impact on pension benefit obligation Assumption Increase Decrease Change in discount rate of 0.25% (809 ) 855 Change in discount rate of 0.25 (809 ) 855 Change in salary rate of 0.25 17 (16 ) Change in pension rate assumption by 0.25 506 (485 ) Change mortality by one year 1,160 (1,160 )

Share Capital (Tables)

Share Capital (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of classes of share capital [abstract]
Summary of share capital	Summary of share capital Issued and outstanding Common shares Amount # $ Balance – December 31, 2020 2,507,145 235,008 Issuance of common shares, net of transaction costs 943,448 29,082 Exercise of warrants, net of issuance costs upon exercise 1,404,443 29,301 Exercise of deferred share units 840 19 Balance – December 31, 2021 4,855,876 293,410 - - Balance – December 31, 2022 4,855,876 293,410 - - Balance – December 31, 2023 4,855,876 293,410

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Warrants
Summary of warrants activity reclassified equity	Warrant activity for the years ended December 31, 2023, 2022 and 2021, was as follows: Summary of warrants activity reclassified equity Number Weighted average exercise price Amount # $ $ December 31, 2020 1,796,050 17.79 12,402 Granted 66,041 45.31 1,897 Exercised (1,404,443 ) 14.31 (9,746 ) Allocation of transaction costs to share capital - - 532 December 31, 2021 457,648 21.76 5,085 - - - December 31, 2022 457,648 21.76 5,085 - - - December 31, 2023 457,648 21.76 5,085
Summary of fair values of warrants assumptions	Summary of fair values of warrants assumptions December 31, 2021 Expected dividend yield - Expected volatility 119.18 % Risk-free annual interest rate 0.59 % Expected life (years) 4.99 Weighted average share price $ 37.00 Weighted average exercise price $ 45.31
Schedule of warrants outstanding	At December 31, 2023, the following warrants were outstanding: Schedule of warrants outstanding Warrant issuance Number Weighted average remaining contractual life Weighted average exercise price # years $ September 2019 53,000 0.73 41.25 February 2020 44,521 1.64 32.28 July 2020 224,845 1.51 11.25 August 2020 69,241 2.10 11.75 February 2021 66,041 2.14 45.31 457,648 1.61 21.76

Contributed Surplus (Tables)

Contributed Surplus (Tables)	12 Months Ended
	Dec. 31, 2023
Surplus (deficit) in plan [abstract]
Summary of number and weighted average exercise prices of share options	Summary of number and weighted average exercise prices of share options Number Weighted average exercise price # $ December 31, 2020 20,256 36.43 Granted 23,200 10.51 Expired (1 ) 14,000.00 December 31, 2021 43,455 21.95 Granted 2,000 8.88 Canceled/Forfeited (2,900 ) 14.49 Expired (525 ) 165.08 December 31, 2022 42,030 20.05 Granted 14,000 3.75 Expired (2,630 ) 86.37 December 31, 2023 53,400 12.51
Summary of assumptions to determine share-based compensation costs over the life of awards	Summary of assumptions to determine share-based compensation costs over the life of awards December 31, 2023 2022 2021 Expected dividend yield - - - Expected volatility 104.46 % 115.75 % 115.80 % Risk-free annual interest rate 3.56 % 1.59 % 1.23 % Expected life (years) 5.45 5.72 5.71 Weighted average share price $ 3.75 $ 8.88 $ 10.51 Weighted average exercise price $ 3.75 $ 8.88 $ 10.51 Weighted average grant date fair value $ 2.99 $ 7.47 $ 8.82
Schedule of stock options exercise price range	At December 31, 2023, the following options were outstanding: Schedule of stock options exercise price range Options outstanding Options exercisable Range of stock option exercise prices Number Weighted average remaining contractual life Weighted average exercise price Number Weighted average remaining contractual life Weighted average exercise price # years $ # years $ 3.75 8.87 14,000 6.05 3.75 - 8.88 10.00 8,800 4.20 9.09 7,467 4.05 9.13 10.01 20.00 21,200 4.96 10.51 14,141 4.96 10.51 20.01 30.00 6,000 2.91 22.68 6,000 2.91 22.68 30.01 53.75 3,400 1.21 51.99 3,400 1.21 51.99 53,400 4.65 12.51 31,008 3.94 17.08
Summary of number and weighted average exercise prices of deferred shares units	Summary of number and weighted average exercise prices of deferred shares units December 31, 2023 2022 2021 # # # Balance – Beginning of the year 96,920 16,920 6,920 Granted 100,000 80,000 11,200 Exercised - - (1,200 ) Balance – End of the year 196,920 96,920 16,920

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2023
Expenses by nature [abstract]
Summary of expense by nature	Summary of expense by nature 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Inventory expensed during the year 45 54 - Provision for obsolete inventory 133 32 - Third-party research and development 11,664 11,244 5,534 Salaries, wages and benefits 4,260 3,563 3,037 Professional and consulting fees 3,504 2,475 2,570 Insurance 1,184 1,687 1,077 Stock-based compensation 378 544 311 Software and IT services 523 386 387 Depreciation and amortization 170 135 144 Marketing, communications and investor relations 274 317 289 Travel, meals and entertainment 276 225 111 Office, rent and telecommunications 171 120 162 License fees 10 19 139 Other (86 ) 92 170 Impairment of goodwill - 7,642 - Impairment of other assets - 124 - Impairment of intangible assets - 584 - Expenses 22,506 29,243 13,931

Supplemental disclosure of ca_2

Supplemental disclosure of cash flow information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Disclosure Of Cash Flow Information
Summary of changes in operating assets and liabilities	Summary of changes in operating assets and liabilities 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Changes in operating assets and liabilities: Trade and other receivables 147 592 120 Inventory 162 (161 ) (56 ) Prepaid expenses and other current assets 589 (783 ) (750 ) Payables and accrued liabilities 76 1,076 634 Income taxes payable - - (109 ) Deferred revenues (1,313 ) 441 3,010 Deferred gain (110 ) - - Provisions (14 ) (2 ) - Employee future benefits (573 ) (559 ) (349 ) Increase (decrease) in operating assets and liabilities (1,036 ) 604 2,500

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Summary of significant components of current and deferred income tax recovery (expense)	Significant components of the current and deferred income tax recovery for the years ended December 31, 2023, 2022 and 2021 are as follows: Summary of significant components of current and deferred income tax recovery (expense) 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Current income tax recovery - - 109 Deferred tax: Origination and reversal of temporary differences 3,706 2,885 1,291 Change in unrecognized tax assets (3,706 ) (2,885 ) (1,291 ) Total income tax recovery - - 109
Summary of reconciliation of combined canadian federal and provincial income tax rate to income tax expense	The reconciliation of the combined Canadian federal and provincial corporate income tax rate to the income tax expense for the years ended December 31, 2023, 2022 and 2021 is provided below: Summary of reconciliation of combined canadian federal and provincial income tax rate to income tax expense December 31, 2023 2022 2021 Combined Canadian federal and provincial statutory income tax rate 26.50 % 26.50 % 26.50 % 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Income tax recovery based on combined statutory income tax rate 4,273 6,023 2,246 Change in unrecognized tax assets (3,706 ) (2,885 ) (1,291 ) Share issuance costs - - 367 Permanent difference attributable to impairment of goodwill - (2,407 ) - Impact of expiring investment tax credits (1,156 ) (1,559 ) (1,724 ) Provision to filed return adjustments - 106 151 Share-based compensation costs (100 ) (144 ) (82 ) Difference in statutory income tax rate of foreign subsidiaries 521 902 226 Other 168 (36 ) 216 Total income tax recovery (expense) - - 109
Summary of (loss) income before income taxes	Loss before income taxes is attributable to the Company’s tax jurisdictions for the years ended December 31, 2023, 2022 and 2021. as follows: Summary of (loss) income before income taxes 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Germany (10,935 ) (16,756 ) (4,383 ) Canada (5,371 ) (5,679 ) (3,860 ) United States (246 ) (292 ) (234 ) Total loss before income taxes (16,552 ) (22,727 ) (8,477 )
Summary of significant components of deferred tax assets and liabilities	Significant components of deferred tax assets and liabilities are as follows: Summary of significant components of deferred tax assets and liabilities 2023 2022 December 31, 2023 2022 $ $ Deferred tax assets Operating losses carried forward 143 582 Deferred tax assets 143 582 Deferred tax liabilities Payables and accrued liabilities - 450 Property and equipment 86 55 Other 57 77 Deferred tax liabilities 143 582 Deferred tax assets (liabilities), net - -
Summary of significant components of unrecognized deferred tax assets	Significant components of unrecognized deferred tax assets and losses are as follows: Summary of significant components of unrecognized deferred tax assets 2023 2022 December 31, 2023 2022 $ $ Deferred revenues and other provisions 53 1,475 Operating losses carried forward 96,866 87,445 Capital losses carried forward 210 210 SR&ED Pool 9,138 9,138 Unused tax credits 1,788 1,559 Employee future benefits 1,784 1,317 Property and equipment 524 524 Intangible assets 104 95 Share issuance expenses 453 781 Other 388 294 Unrecognized deferred tax assets 111,768 102,838
Summary of disclosure of federal tax losses	Summary of disclosure of federal tax losses Canada Federal Canada Provincial $ $ 2028 8,054 6,668 2029 4,791 4,773 2030 4,104 4,089 2031 1,753 1,737 2032 4,250 4,250 2033 3,721 3,721 2034 4,153 4,153 2035 10,418 10,452 2036 10,592 10,592 2037 7,343 7,343 2038 6,557 6,557 2039 3,501 3,501 2040 3,808 3,808 2041 4,822 4,822 2042 6,367 6,367 2043 6,202 6,202 90,436 89,114 United States $ 2028 369 2029 178 2034 151 2035 447 2036 195 2037 709 Indefinite 1,224 indefinite 771 indefinite 516 indefinite 244 Indefinite 292 indefinite 246 5,342

Financial instruments and fin_2

Financial instruments and financial risk management (Tables)	12 Months Ended
	Dec. 31, 2023
Notes and other explanatory information [abstract]
Disclosure of fair value measurement of assets	Financial assets and liabilities as of December 31, 2023, and 2022 are presented below. Disclosure of fair value measurement of assets December 31, 2023 Financial assets at amortized cost Financial liabilities at amortized cost $ $ Cash and cash equivalents 34,016 - Trade and other receivables 67 - Restricted cash equivalents 332 - Payables and accrued liabilities - 3,544 Lease liability - 160 34,415 3,704 December 31, 2022 Financial assets at amortized cost Financial liabilities at amortized cost $ $ Cash and cash equivalents 50,611 - Trade and other receivables 457 - Restricted cash equivalents 322 - Payables and accrued liabilities - 3,752 Lease liability - 179 51,390 3,931

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Summary of revenues by geographical area	Revenues by geographical area have been allocated to geographic regions based on the country of residence of the Company’s external customers or licensees and are detailed as follows: Summary of revenues by geographical area 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ Switzerland 4,317 5,395 5,075 Ireland 122 82 - Denmark 11 160 185 Other 48 3 - Revenue 4,498 5,640 5,260
Summary of non-current assets by geographical area	Non-current assets include restricted cash equivalents and property and equipment, and are detailed by geographical area as follows: Summary of non-current assets by geographical area 2023 2022 December 31, 2023 2022 $ $ Germany 575 463 Canada 3 4 United States 71 71 Non Current Assets 649 538

Net loss per share (Tables)

Net loss per share (Tables)	12 Months Ended
	Dec. 31, 2023
Net Loss Per Share
Summary of pertinent data relating to computation of basic and diluted net loss per share	The following table sets forth pertinent data relating to the computation of basic and diluted net loss per share attributable to common shareholders. Summary of pertinent data relating to computation of basic and diluted net loss per share 2023 2022 2021 Years ended December 31, 2023 2022 2021 $ $ $ Net loss (16,552 ) (22,727 ) (8,368 ) Basic and diluted weighted-average number of shares outstanding 4,855,876 4,855,876 4,596,980 Basic and diluted loss per share (3.41 ) (4.68 ) (1.82 ) Items excluded from the calculation of diluted net loss per share due to their anti-dilutive effect: Stock options and DSUs 250,320 138,950 60,375 Share purchase warrants 457,648 457,648 457,648

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments
Schedule of expected future minimum lease payments	Significant expenditure contracted for at the end of the reporting period but not recognized as liabilities is as follows: Schedule of expected future minimum lease payments Amount $ Less than 1 year 5,634 1 – 5 years 71 Total 5,705

Related party disclosures (Tabl

Related party disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
Schedule of compensation for key management	Key management includes the Company’s Directors, Chief Executive Officer, Chief Financial Officer, Chief Scientific Officer and Chief Medical Officer. Compensation awarded to key management is summarized as follows: Schedule of compensation for key management 2023 2022 2021 December 31, 2023 2022 2021 $ $ $ Salaries and short-term benefits 2,025 1,848 1,646 Consultant’s fees - 17 163 Post-retirement benefits 37 63 70 Stock-based compensation 284 460 295 Compensation of key management 2,346 2,388 2,174

Summary of revenue from transfe

Summary of revenue from transfer of goods and services (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
License fees	$ 1,607	$ 1,704	$ 1,670
Development services	2,741	3,617	3,337
Product sales	66	57
Royalties	31	101	68
Total	4,498	5,640	5,260
Supply chain [member]
IfrsStatementLineItems [Line Items]
Supply chain	$ 53	$ 161	$ 185

Summary of deferred revenue (De

Summary of deferred revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Current contract liabilities	$ 218	$ 2,949
Non-current contract liabilities	1,544	1,684
Contract liabilities	1,762	4,633
Novo nordisk health care [member]
IfrsStatementLineItems [Line Items]
Current contract liabilities		2,914
Non-current contract liabilities
Contract liabilities		2,914
Pharmanovia [Member]
IfrsStatementLineItems [Line Items]
Current contract liabilities	209
Non-current contract liabilities	1,420
Contract liabilities	1,629
NK meditech limited [member]
IfrsStatementLineItems [Line Items]
Current contract liabilities	9
Non-current contract liabilities	124	128
Contract liabilities	$ 133	128
Consilient healthcare limited [member]
IfrsStatementLineItems [Line Items]
Current contract liabilities		35
Non-current contract liabilities		1,556
Contract liabilities		$ 1,591

Schedule of cash and cash equiv

Schedule of cash and cash equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Notes and other explanatory information [abstract]
Cash on hand and balances with banks	$ 34,016	$ 50,611
Total	$ 34,016	$ 50,611	$ 65,300	$ 24,271

Revenue (Details Narrative)

Revenue (Details Narrative) € in Thousands									1 Months Ended		12 Months Ended
	Aug. 26, 2022 USD ($)	Aug. 26, 2022 EUR (€)	Dec. 07, 2020 USD ($)	Dec. 07, 2020 EUR (€)	Nov. 16, 2020 USD ($)	Nov. 16, 2020 EUR (€)	Nov. 16, 2020 USD ($)	Nov. 15, 2020	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2023 EUR (€)	Aug. 26, 2022 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 07, 2020 EUR (€)	Jan. 31, 2018 USD ($)
IfrsStatementLineItems [Line Items]
Revenues											$ 4,498,000		$ 5,640,000		$ 5,260,000
Upfront royalties received											31,000		101,000		68,000
Cost of Sales						€ 9,000					222,000		157,000		90,000
Development services											2,741,000		3,617,000		3,337,000
Performance obligation and deferred															226,000	€ 200
Development services [member]
IfrsStatementLineItems [Line Items]
Revenues	$ 5,065,000	€ 4,962
Pediatric indication [member]
IfrsStatementLineItems [Line Items]
Licensee costs	2,872,000	2,814
Top of range [member]
IfrsStatementLineItems [Line Items]
Cost of Sales	10,500,000	9,800
United states [member]
IfrsStatementLineItems [Line Items]
Percentage of reduced royalty payments							8.50%	15%
United states [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Revenues							$ 40,000,000
Canada [member]
IfrsStatementLineItems [Line Items]
Percentage of reduced royalty payments					15%	15%
Canada [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Revenues					$ 40,000,000
Germany [member]
IfrsStatementLineItems [Line Items]
Performance obligation and deferred													319,000	€ 300
Novo nordisk A/S [member]
IfrsStatementLineItems [Line Items]
Cost of Sales	9,600,000	9,000			$ 9,600,000	€ 9,000
Goods or services transferred over time [member]
IfrsStatementLineItems [Line Items]
Revenues											4,401,000		5,482,000		5,192,000
Goods or services transferred at point in time [member]
IfrsStatementLineItems [Line Items]
Revenues											97,000		158,000		68,000
Novo nordisk health care [member]
IfrsStatementLineItems [Line Items]
Revenues											4,328,000		5,555,000		$ 5,260,000
Transaction Price Prior To Modification [Member] | F D A Approval [Member]
IfrsStatementLineItems [Line Items]
Transaction costs																							$ 5,000
License agreement [member] | Novo nordisk A/S [member]
IfrsStatementLineItems [Line Items]
Upfront royalties received									$ 6,109,000	€ 5,000
License agreement [member] | Consilient healthcare limited [member]
IfrsStatementLineItems [Line Items]
Transaction costs			$ 1,209,000								1,629,000		1,591,000									€ 1,000
Upfront royalties received			$ 1,209,000	€ 1,000
Transaction price adjusted post modification [member]
IfrsStatementLineItems [Line Items]
Transaction costs	7,937,000										5,754,000								€ 4,700	€ 7,776
Transaction price adjusted post modification [member] | Adult indication [member]
IfrsStatementLineItems [Line Items]
Revenues																	$ 550,000	€ 470
Deferred revenue									$ 5,559,000								$ 5,559,000				€ 4,530
Pre nova amendement [member]
IfrsStatementLineItems [Line Items]
Transaction costs											195,000								€ 200
Post nova amendement [member]
IfrsStatementLineItems [Line Items]
Licensee costs											5,559,000	€ 4,500
Nova amendement [member]
IfrsStatementLineItems [Line Items]
Development services	3,865,000	4,448
Nova amendement [member] | Pediatric indication [member]
IfrsStatementLineItems [Line Items]
Licensee costs	$ 1,615,000	€ 1,880
CH agreement [member]
IfrsStatementLineItems [Line Items]
Revenues											$ 52,000		$ 18,000

Summary of detailed trade and o

Summary of detailed trade and other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Trade accounts receivable	$ 67	$ 403
Value added tax	103	275
Other receivables	52	54
Total	$ 222	$ 732

Cash and cash equivalents (Deta

Cash and cash equivalents (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Restricted cash and cash equivalents	$ 332	$ 322

Summary of prepaid expenses and

Summary of prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Prepaid insurance	$ 250	$ 428
Prepaid research and development	1,633	1,998
Other	59	62
Total	$ 1,942	$ 2,488

Schedule of property and equipm

Schedule of property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2023	Jan. 01, 2022
IfrsStatementLineItems [Line Items]
At December 31, 2022	$ 216
Property and equipment, cost, Beginning balance	1,274
At December 31, 2023	317	$ 216
At December 31, 2023	317	216	$ 317	$ 216
Office equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2023			18	15
Computer equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2023			26	25
Buildings [member]
IfrsStatementLineItems [Line Items]
At December 31, 2023			134	129
Vehicles [member]
IfrsStatementLineItems [Line Items]
At December 31, 2023			$ 139	$ 47
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	1,274	1,177
Additions	154	49
Remeasurement	109	116
Disposals	(95)	(11)
Impact of foreign exchange rate changes	39	(57)
At December 31, 2023	1,481	1,274
At December 31, 2023	1,481	1,274
Gross carrying amount [member] | Office equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	188	199
Additions	6
Remeasurement
Disposals	(1)
Impact of foreign exchange rate changes	6	(11)
At December 31, 2023	199	188
At December 31, 2023	199	188
Gross carrying amount [member] | Computer equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	265	268
Additions	14	11
Remeasurement
Disposals		(1)
Impact of foreign exchange rate changes	7	(13)
At December 31, 2023	286	265
At December 31, 2023	286	265
Gross carrying amount [member] | Buildings [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	685	623
Additions
Remeasurement	103	98
Disposals		(10)
Impact of foreign exchange rate changes	22	(26)
At December 31, 2023	810	685
At December 31, 2023	810	685
Gross carrying amount [member] | Vehicles [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	136	87
Additions	134	38
Remeasurement	6	18
Disposals	(94)
Impact of foreign exchange rate changes	4	(7)
At December 31, 2023	186	136
At December 31, 2023	186	136
Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	1,058	985
Disposals	(94)	(11)
Impact of foreign exchange rate changes	31	(46)
At December 31, 2023	1,164	1,058
Depreciation	169	130
At December 31, 2023	1,164	1,058
Accumulated depreciation [member] | Office equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	173	181
Disposals
Impact of foreign exchange rate changes	5	(10)
At December 31, 2023	181	173
Depreciation	3	2
At December 31, 2023	181	173
Accumulated depreciation [member] | Computer equipment [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	240	244
Disposals		(1)
Impact of foreign exchange rate changes	7	(12)
At December 31, 2023	260	240
Depreciation	13	9
At December 31, 2023	260	240
Accumulated depreciation [member] | Buildings [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	556	493
Disposals		(10)
Impact of foreign exchange rate changes	17	(21)
At December 31, 2023	676	556
Depreciation	103	94
At December 31, 2023	676	556
Accumulated depreciation [member] | Vehicles [member]
IfrsStatementLineItems [Line Items]
At December 31, 2022	89	67
Disposals	(94)
Impact of foreign exchange rate changes	2	(3)
At December 31, 2023	47	89
Depreciation	50	25
At December 31, 2023	$ 47	$ 89

Trade and other receivables (De

Trade and other receivables (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes and other explanatory information [abstract]
Other receivables		$ 124

Property and equipment (Details

Property and equipment (Details Narrative) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Right of use building [member]
IfrsStatementLineItems [Line Items]
Modification building right use assets	$ 103	$ 98

Schedule of goodwill (Details)

Schedule of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes and other explanatory information [abstract]
Balance - Beginning of period		$ 8,130
Impairment of goodwill		(7,642)
Impact of foreign exchange rate changes		(488)
Balance - Ending of period			$ 8,130

Intangible assets (Details Narr

Intangible assets (Details Narrative) € in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Notes and other explanatory information [abstract]
Trade mark fee	$ 549,000	€ 0.5
Impairment of license			$ 212
Impairment of license			$ 372,000

Goodwill (Details Narrative)

Goodwill (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes and other explanatory information [abstract]
Impairment of intangible assets and goodwill		$ 7,642
Intangible assets and goodwill		$ 372

Summary of detailed information

Summary of detailed information about payables and accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Miscellaneous liabilities [abstract]
Trade accounts payable	$ 1,866	$ 2,038
Accrued research and development costs	804	751
Accrued employee benefits	343	325
Payroll tax and other statutory liabilities	78	74
Other accrued liabilities	531	640
Payables and accrued liabilities	$ 3,622	$ 3,828

Summary of provisions (Details)

Summary of provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Provisions [abstract]
Balance - Beginning of period	$ 233	$ 277
Provision recognized	(404)
Utilization of provision	(40)	(28)
Change in the provision	(174)
Unwinding of discount and impact of foreign exchange rate changes	6	(16)
Balances - End of the year	429	233
Less: current portion	429	45
Non-current portion		$ 188

Provisions (Details Narrative)

Provisions (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Provisions [abstract]
Provision recognised	$ (404)

Summary of lease liabilities (D

Summary of lease liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease liabilities [abstract]
Balance - Beginning of period	$ 179	$ 161
Additions	134	38
Interest paid as charged to net loss as other finance costs	(13)	(4)	$ (7)
Payment against lease liabilities	(151)	(134)	(127)
Modification of lease liability	108	114
Impact of foreign exchange rate changes	22	4
Balances - End of the year	279	179	$ 161
Current lease liabilities	160	114
Non-current lease liabilities	$ 119	$ 65

Summary of future lease payment

Summary of future lease payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total	$ 279	$ 179	$ 161
Not later than one year [member]
IfrsStatementLineItems [Line Items]
Total	160
Later than one year and not later than three years [member]
IfrsStatementLineItems [Line Items]
Total	102
Later than three years and not later than five years [member]
IfrsStatementLineItems [Line Items]
Total	$ 17

Lease liabilities (Details Narr

Lease liabilities (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease liabilities [abstract]
Modification of lease liability	$ 103	$ 98

Summary of net defined benefit

Summary of net defined benefit liability asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in plan liabilities
Balances – Beginning of the year	$ 21,750	$ 29,412
Current service cost (residual value)	120	142
Interest cost	807	295
Actuarial loss (gain) arising from changes in financial assumptions	(1,213)	5,915
Benefits paid	(815)	(752)
Impact of foreign exchange rate changes	645	(1,432)
Balances – End of the year	23,720	21,750
Change in plan assets
Balances – Beginning of the year	10,591	11,927
Interest income from plan assets	396	120
Employer contributions	36	45
Employee contributions	13	10
Benefits paid	(266)	(247)
Remeasurement of plan assets	15	(641)
Impact of foreign exchange rate changes	318	(623)
Balances – End of the year	11,103	10,591
Net liability of the unfunded plans	11,682	10,787
Net liability of the funded plans	935	372
Net amount recognized as Employee future benefits	12,617	11,159
Amounts recognized:
In net loss	520	295
Actuarial gain (loss) on defined benefit plans and remeasurement of the net defined benefit liability in other comprehensive (gain) loss	(1,195)	5,262
Pension defined benefit plans [member]
Change in plan liabilities
Balances – Beginning of the year	21,657
Current service cost (residual value)	123
Interest cost	803
Actuarial loss (gain) arising from changes in financial assumptions	(1,210)
Benefits paid	(814)
Impact of foreign exchange rate changes	643
Balances – End of the year	23,622	21,657
Change in plan assets
Balances – Beginning of the year	10,591
Interest income from plan assets	396
Employer contributions	36
Employee contributions	13
Benefits paid	(266)
Remeasurement of plan assets	15
Impact of foreign exchange rate changes	318
Balances – End of the year	11,103	10,591
Net liability of the unfunded plans	11,584
Net liability of the funded plans	935
Net amount recognized as Employee future benefits	12,519
Amounts recognized:
In net loss	517
Actuarial gain (loss) on defined benefit plans and remeasurement of the net defined benefit liability in other comprehensive (gain) loss	(1,195)
Other benefit plans [member]
Change in plan liabilities
Balances – Beginning of the year	93
Current service cost (residual value)	(3)
Interest cost	4
Actuarial loss (gain) arising from changes in financial assumptions	(3)
Benefits paid	(1)
Impact of foreign exchange rate changes	2
Balances – End of the year	98	93
Change in plan assets
Balances – Beginning of the year
Interest income from plan assets
Employer contributions
Employee contributions
Benefits paid
Remeasurement of plan assets
Impact of foreign exchange rate changes
Balances – End of the year
Net liability of the unfunded plans	98
Net liability of the funded plans
Net amount recognized as Employee future benefits	98
Amounts recognized:
In net loss	3
Actuarial gain (loss) on defined benefit plans and remeasurement of the net defined benefit liability in other comprehensive (gain) loss

Summary of proportionate share

Summary of proportionate share of multi-employer pension plan assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total of pension plan assets	$ 11,103	$ 10,591	$ 11,927
Level 1 of fair value hierarchy [member]
IfrsStatementLineItems [Line Items]
Cash and cash equivalents (level 1)	225	46
Debt instruments (level 1)	6,357	6,302
Equity instruments (level 1)	1,219	846
Level 3 of fair value hierarchy [member]
IfrsStatementLineItems [Line Items]
Real estate (level 3)	2,692	2,079
Other (level 3)	$ 610	$ 1,318

Summary of actuarial assumption

Summary of actuarial assumptions applied to benefit obligations (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Discount rate	25%
Pension benefits increase	25%
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Discount rate	3.30%	3.75%	1.10%
Pension benefits increase	2%	2%	0.50%
Rate of compensation increase	2.50%	2.50%	2.50%
Other benefit plans [member]
IfrsStatementLineItems [Line Items]
Discount rate	3.30%	3.75%	1.10%
Pension benefits increase	2%	2%	0.50%
Rate of compensation increase	2.50%	2.50%	2.50%

Summary of pensioner retiring a

Summary of pensioner retiring age (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Male [member]
IfrsStatementLineItems [Line Items]
Retiring at the end of the reporting period:	21 years	21 years	21 years
Female [member]
IfrsStatementLineItems [Line Items]
Retiring at the end of the reporting period:	24 years	24 years	24 years

Summary of undiscounted defined

Summary of undiscounted defined pension benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Employee Future Benefits
2024	$ 871
2025	881
2026	923
2027	1,098
2028	1,123
Thereafter	36,144
Total	$ 41,040

Summary of impact on pension be

Summary of impact on pension benefit obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Actuarial assumption of discount rates [member]
IfrsStatementLineItems [Line Items]
Increase	$ (809)
Decrease		$ 855
Actuarial assumption of expected rates of salary increases [member]
IfrsStatementLineItems [Line Items]
Increase	17
Decrease		(16)
Actuarial assumption of expected rates of pension increases [member]
IfrsStatementLineItems [Line Items]
Increase	506
Decrease		(485)
Actuarial assumption of mortality rates [member]
IfrsStatementLineItems [Line Items]
Increase	$ 1,160
Decrease		$ (1,160)

Summary of impact on pension _2

Summary of impact on pension benefit obligation (Details) (Parenthetical)	Dec. 31, 2023
Employee Future Benefits
Change in discount rate	25%
Change in salary rate	25%
Change in pension rate assumption	25%

Employee future benefits (Detai

Employee future benefits (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Pensioner retiring age period	65 years
Weighted average duration of defined benefit obligation	14 years 6 months	14 years 4 months 24 days
Pension benefit obligation	$ 23,720	$ 21,750	$ 29,412
Expenses for defined benefit plan	$ 18	20	$ 45
Final salary pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Percentage of expected increase in inflation	1%
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Pension benefit obligation	$ 23,622	$ 21,657

Summary of share capital (Detai

Summary of share capital (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Balance	$ 35,776	$ 52,986	$ 13,211
Issuance of common shares, net of transaction costs, amount			30,979
Exercise of deferred share units, amount			(9)
Balance	$ 18,196	$ 35,776	$ 52,986
Issued capital [member]
IfrsStatementLineItems [Line Items]
Beginning balance, shares	4,855,876	4,855,876	2,507,145
Balance	$ 293,410	$ 293,410	$ 235,008
Issuance of common shares, net of transaction costs, shares			943,448
Issuance of common shares, net of transaction costs, amount			$ 29,082
Exercise of warrants, net of issuance costs upon exercise, shares			1,404,443
Exercise of warrants, net of issuance costs upon exercise, amount			$ 29,301
Exercise of deferred share units, shares			840
Exercise of deferred share units, amount			$ 19
Ending balance, shares	4,855,876	4,855,876	4,855,876
Balance	$ 293,410	$ 293,410	$ 293,410

Share Capital (Details Narrativ

Share Capital (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Jul. 15, 2022	Feb. 22, 2021	Feb. 19, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares						$ 34,200
February 2021 Placement Agent Warrants [member]
IfrsStatementLineItems [Line Items]
Warrants issued		8,614	57,427
Warrants exercise price			$ 45.31
Warrants expiration date			Feb. 17, 2026
Underwriter option [member]
IfrsStatementLineItems [Line Items]
Option to purchase common stock		123,058
Proceeds from issuing common shares		$ 4,461
February 2021 Financing [member]
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares		34,200
Cash transaction costs		3,221
Warrant liability		$ 1,897
Public offering [member]
IfrsStatementLineItems [Line Items]
Option to purchase common stock			820,390
Share price			$ 36.25
Proceeds from issuing common shares			$ 29,739
Placement agent fees and other offering expenses			$ 2,837
Over allotment options [member]
IfrsStatementLineItems [Line Items]
Share price			$ 36.25
Option to purchase common stock			123,058
Shareholders and Board of Directors [Member]
IfrsStatementLineItems [Line Items]
Reverse stock split	1-for-25
Deferred Stock Units [Member]
IfrsStatementLineItems [Line Items]
Reverse stock split	1-for-25

Summary of warrants activity re

Summary of warrants activity reclassified equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Warrants
Warrants Outstanding, Ending of year	457,648	457,648	1,796,050
Weighted average exercise price, beginning of year	$ 21.76	$ 21.76	$ 17.79
Warrants outstanding, beginning of year, value	$ 5,085	$ 5,085	$ 12,402
Granted			66,041
Weighted average exercise price, Granted			$ 45.31
Warrants outstanding, Granted			$ 1,897
Exercised			(1,404,443)
Weighted average exercise price, Exercised			$ 14.31
Warrants outstanding, Exercised			$ (9,746)
Allocation of transaction costs to share capital
Weighted average exercise price, Allocation of transaction costs to share capital
Warrants outstanding, Allocation of transaction costs to share capital			$ 532
Warrants Outstanding, Ending of year	457,648	457,648	457,648
Weighted average exercise price, ending of year	$ 21.76	$ 21.76	$ 21.76
Warrants outstanding, ending of year, value	$ 5,085	$ 5,085	$ 5,085

Summary of fair values of warra

Summary of fair values of warrants assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Expected dividend yield
Expected volatility	104.46%	115.75%	115.80%
Risk-free annual interest rate	3.56%	1.59%	1.23%
Expected life (years)	5 years 5 months 12 days	5 years 8 months 19 days	5 years 8 months 15 days
Weighted average share price	$ 3.75	$ 8.88	$ 10.51
Weighted average exercise price	$ 3.75	$ 8.88	$ 10.51
Warrants [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield
Expected volatility			119.18%
Risk-free annual interest rate			0.59%
Expected life (years)			4 years 11 months 26 days
Weighted average share price			$ 37
Weighted average exercise price			$ 45.31

Schedule of warrants outstandin

Schedule of warrants outstanding (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	457,648
Options outstanding, Weighted average remaining contractual life (years)	1 year 7 months 9 days
Options outstanding, Weighted average exercise price | $ / shares	$ 21.76
Warrants [member] | September 2019 [member]
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	53,000
Options outstanding, Weighted average remaining contractual life (years)	8 months 23 days
Options outstanding, Weighted average exercise price | $ / shares	$ 41.25
Warrants [member] | February 2020 [member]
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	44,521
Options outstanding, Weighted average remaining contractual life (years)	1 year 7 months 20 days
Options outstanding, Weighted average exercise price | $ / shares	$ 32.28
Warrants [member] | July 2020 [member]
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	224,845
Options outstanding, Weighted average remaining contractual life (years)	1 year 6 months 3 days
Options outstanding, Weighted average exercise price | $ / shares	$ 11.25
Warrants [member] | August 2020 [member]
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	69,241
Options outstanding, Weighted average remaining contractual life (years)	2 years 1 month 6 days
Options outstanding, Weighted average exercise price | $ / shares	$ 11.75
Warrants [member] | February 2021 [member]
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	66,041
Options outstanding, Weighted average remaining contractual life (years)	2 years 1 month 20 days
Options outstanding, Weighted average exercise price | $ / shares	$ 45.31

Summary of number and weighted

Summary of number and weighted average exercise prices of share options (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Surplus (deficit) in plan [abstract]
Number of Options, Beginning | shares	42,030	43,455	20,256
Weighted average exercise price, beginning | $ / shares	$ 20.05	$ 21.95	$ 36.43
Number of Options, Granted | shares	14,000	2,000	23,200
Weighted average exercise price, granted | $ / shares	$ 3.75	$ 8.88	$ 10.51
Number of Options, Expired | shares	(2,630)	(525)	(1)
Weighted average exercise price, expired | $ / shares	$ 86.37	$ 165.08	$ 14,000
Number of Options, Canceled/Forfeited | shares		(2,900)
Weighted average exercise price, canceled/forfeited | $ / shares		$ 14.49
Number of Options, Ending | shares	53,400	42,030	43,455
Weighted average exercise price, ending | $ / shares	$ 12.51	$ 20.05	$ 21.95

Summary of assumptions to deter

Summary of assumptions to determine share-based compensation costs over the life of awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Surplus (deficit) in plan [abstract]
Expected dividend yield
Expected volatility	104.46%	115.75%	115.80%
Risk-free annual interest rate	3.56%	1.59%	1.23%
Expected life (years)	5 years 5 months 12 days	5 years 8 months 19 days	5 years 8 months 15 days
Weighted average share price	$ 3.75	$ 8.88	$ 10.51
Weighted average exercise price	3.75	8.88	10.51
Weighted average grant date fair value	$ 2.99	$ 7.47	$ 8.82

Schedule of stock options exerc

Schedule of stock options exercise price range (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares
IfrsStatementLineItems [Line Items]
Options outstanding, Number (in shares) | shares	53,400
Options outstanding, Weighted average remaining contractual life (years)	4 years 7 months 24 days
Options outstanding, Weighted average exercise price	$ 12.51
Options exercisable, Number (in shares) | shares	31,008
Options exercisable Weighted average remaining contractual life (years)	3 years 11 months 8 days
Options exercisable, Weighted average exercise price	$ 17.08
Exercise price range 1 [member]
IfrsStatementLineItems [Line Items]
Range of options exercise price, lower limit	3.75
Range of options exercise price, upper limit	$ 8.87
Options outstanding, Number (in shares) | shares	14,000
Options outstanding, Weighted average remaining contractual life (years)	6 years 18 days
Options outstanding, Weighted average exercise price	$ 3.75
Options exercisable, Number (in shares) | shares
Exercise price range 2 [member]
IfrsStatementLineItems [Line Items]
Range of options exercise price, lower limit	$ 8.88
Range of options exercise price, upper limit	$ 10
Options outstanding, Number (in shares) | shares	8,800
Options outstanding, Weighted average remaining contractual life (years)	4 years 2 months 12 days
Options outstanding, Weighted average exercise price	$ 9.09
Options exercisable, Number (in shares) | shares	7,467
Options exercisable Weighted average remaining contractual life (years)	4 years 18 days
Options exercisable, Weighted average exercise price	$ 9.13
Exercise price range 3 [member]
IfrsStatementLineItems [Line Items]
Range of options exercise price, lower limit	10.01
Range of options exercise price, upper limit	$ 20
Options outstanding, Number (in shares) | shares	21,200
Options outstanding, Weighted average remaining contractual life (years)	4 years 11 months 15 days
Options outstanding, Weighted average exercise price	$ 10.51
Options exercisable, Number (in shares) | shares	14,141
Options exercisable Weighted average remaining contractual life (years)	4 years 11 months 15 days
Options exercisable, Weighted average exercise price	$ 10.51
Exercise price range 4 [member]
IfrsStatementLineItems [Line Items]
Range of options exercise price, lower limit	20.01
Range of options exercise price, upper limit	$ 30
Options outstanding, Number (in shares) | shares	6,000
Options outstanding, Weighted average remaining contractual life (years)	2 years 10 months 28 days
Options outstanding, Weighted average exercise price	$ 22.68
Options exercisable, Number (in shares) | shares	6,000
Options exercisable Weighted average remaining contractual life (years)	2 years 10 months 28 days
Options exercisable, Weighted average exercise price	$ 22.68
Exercise price range 5 [member]
IfrsStatementLineItems [Line Items]
Range of options exercise price, lower limit	30.01
Range of options exercise price, upper limit	$ 53.75
Options outstanding, Number (in shares) | shares	3,400
Options outstanding, Weighted average remaining contractual life (years)	1 year 2 months 15 days
Options outstanding, Weighted average exercise price	$ 51.99
Options exercisable, Number (in shares) | shares	3,400
Options exercisable Weighted average remaining contractual life (years)	1 year 2 months 15 days
Options exercisable, Weighted average exercise price	$ 51.99

Summary of number and weighte_2

Summary of number and weighted average exercise prices of deferred shares units (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Number of Options, Beginning	42,030	43,455	20,256
Number of Options, Granted	14,000	2,000	23,200
Number of Options, Ending	53,400	42,030	43,455
Deferred share unit [member]
IfrsStatementLineItems [Line Items]
Number of Options, Beginning	96,920	16,920	6,920
Number of Options, Granted	100,000	80,000	11,200
Number of Options, Exercised			(1,200)
Number of Options, Ending	196,920	96,920	16,920

Contributed Surplus (Details Na

Contributed Surplus (Details Narrative) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 17, 2023 shares $ / shares	Dec. 31, 2023 USD ($) shares $ / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
IfrsStatementLineItems [Line Items]
Compensation expenses | $		$ 94	$ 142	$ 107
Number of options, granted		14,000	2,000	23,200
Weighted average exercise price, exercisable | $ / shares		$ 17.08
Weighted average remaining contractual life		4 years 7 months 24 days
Deferred share unit [member]
IfrsStatementLineItems [Line Items]
Compensation expenses | $		$ 284	$ 402	$ 204
Number of options, granted		100,000	80,000	11,200
2018 long term incentive plan [member]
IfrsStatementLineItems [Line Items]
Percentage of issued and outstanding common shares		11.40%
2018 long term incentive plan [member] | Nonadjusting event [member]
IfrsStatementLineItems [Line Items]
Number of options, granted	14,000
Weighted average exercise price, exercisable | $ / shares	$ 3.75
Weighted average remaining contractual life	7 years
Vesting description	vest over a period of three years
Stock option plan prior to 2014 amendment [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Expected life of options granted		10 years
Stock option plan after to 2014 amendment [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Expected life of options granted		7 years

Summary of expense by nature (D

Summary of expense by nature (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses by nature [abstract]
Inventory expensed during the year	$ 45	$ 54
Provision for obsolete inventory	133	32
Third-party research and development	11,664	11,244	5,534
Salaries, wages and benefits	4,260	3,563	3,037
Professional and consulting fees	3,504	2,475	2,570
Insurance	1,184	1,687	1,077
Stock-based compensation	378	544	311
Software and IT services	523	386	387
Depreciation and amortization	170	135	144
Marketing, communications and investor relations	274	317	289
Travel, meals and entertainment	276	225	111
Office, rent and telecommunications	171	120	162
License fees	10	19	139
Other	(86)	92	170
Impairment of goodwill		7,642
Impairment of other assets		124
Impairment of intangible assets		584
Total expenses	$ 22,506	$ 29,243	$ 13,931

Summary of changes in operating

Summary of changes in operating assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Disclosure Of Cash Flow Information
Trade and other receivables	$ 147	$ 592	$ 120
Inventory	162	(161)	(56)
Prepaid expenses and other current assets	589	(783)	(750)
Payables and accrued liabilities	76	1,076	634
Income taxes payable			(109)
Deferred revenues	(1,313)	441	3,010
Deferred gain	(110)
Provisions	(14)	(2)
Employee future benefits	(573)	(559)	(349)
Increase (decrease) in operating assets and liabilities	$ (1,036)	$ 604	$ 2,500

Summary of significant componen

Summary of significant components of current and deferred income tax recovery (expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Current income tax recovery			$ 109
Origination and reversal of temporary differences	3,706	2,885	1,291
Change in unrecognized tax assets	(3,706)	(2,885)	(1,291)
Total income tax recovery			$ 109

Summary of reconciliation of co

Summary of reconciliation of combined canadian federal and provincial income tax rate to income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Combined Canadian federal and provincial statutory income tax rate	26.50%	26.50%	26.50%
Income tax recovery based on combined statutory income tax rate	$ 4,273	$ 6,023	$ 2,246
Change in unrecognized tax assets	(3,706)	(2,885)	(1,291)
Share issuance costs			367
Permanent difference attributable to impairment of goodwill		(2,407)
Impact of expiring investment tax credits	(1,156)	(1,559)	(1,724)
Provision to filed return adjustments		106	151
Share-based compensation costs	(100)	(144)	(82)
Difference in statutory income tax rate of foreign subsidiaries	521	902	226
Other	168	(36)	216
Total income tax recovery (expense)			$ 109

Summary of (loss) income before

Summary of (loss) income before income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total loss before income taxes	$ (16,552)	$ (22,727)	$ (8,477)
Germany [member]
IfrsStatementLineItems [Line Items]
Total loss before income taxes	(10,935)	(16,756)	(4,383)
Canada [member]
IfrsStatementLineItems [Line Items]
Total loss before income taxes	(5,371)	(5,679)	(3,860)
United States [member]
IfrsStatementLineItems [Line Items]
Total loss before income taxes	$ (246)	$ (292)	$ (234)

Summary of significant compon_2

Summary of significant components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Deferred tax assets	$ 143	$ 582
Deferred tax liabilities	143	582
Deferred tax assets (liabilities), net
Operating losses carried forward temporary differences [member]
IfrsStatementLineItems [Line Items]
Deferred tax assets	143	582
Payable and accrued liabilities related temporary differences [member]
IfrsStatementLineItems [Line Items]
Deferred tax liabilities		450
Property plant and equipment related temporary differences [member]
IfrsStatementLineItems [Line Items]
Deferred tax liabilities	86	55
Other temporary differences [member]
IfrsStatementLineItems [Line Items]
Deferred tax liabilities	$ 57	$ 77

Summary of significant compon_3

Summary of significant components of unrecognized deferred tax assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	$ 111,768	$ 102,838
Deferred revenues and other provisions [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	53	1,475
Operating losses carried forward temporary differences [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	96,866	87,445
Capital losses carried forward [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	210	210
SR&ED Pool [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	9,138	9,138
Unused tax credits [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	1,788	1,559
Employee future benefits [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	1,784	1,317
Property plant and equipment related temporary differences [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	524	524
Intangible assets [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	104	95
Share issuance expenses [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	453	781
Other temporary differences [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	$ 388	$ 294

Summary of disclosure of federa

Summary of disclosure of federal tax losses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	$ 111,768	$ 102,838
United states [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	5,342
United states [member] | 2028 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	369
United states [member] | 2029 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	178
United states [member] | 2034 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	151
United states [member] | 2035 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	447
United states [member] | 2036 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	195
United states [member] | 2037 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	709
United states [member] | Indefinite one [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	1,224
United states [member] | Indefinite two [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	771
United states [member] | Indefinite three [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	516
United states [member] | Indefinite four [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	244
United states [member] | Indefinite five [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	292
United states [member] | Indefinite six [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	246
Domestic tax authority [member] | Canada [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	90,436
Domestic tax authority [member] | Canada [member] | 2028 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	8,054
Domestic tax authority [member] | Canada [member] | 2029 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,791
Domestic tax authority [member] | Canada [member] | 2030 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,104
Domestic tax authority [member] | Canada [member] | 2031 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	1,753
Domestic tax authority [member] | Canada [member] | 2032 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,250
Domestic tax authority [member] | Canada [member] | 2033 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,721
Domestic tax authority [member] | Canada [member] | 2034 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,153
Domestic tax authority [member] | Canada [member] | 2035 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	10,418
Domestic tax authority [member] | Canada [member] | 2036 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	10,592
Domestic tax authority [member] | Canada [member] | 2037 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	7,343
Domestic tax authority [member] | Canada [member] | 2038 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,557
Domestic tax authority [member] | Canada [member] | 2039 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,501
Domestic tax authority [member] | Canada [member] | 2040 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,808
Domestic tax authority [member] | Canada [member] | 2041 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,822
Domestic tax authority [member] | Canada [member] | 2042 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,367
Domestic tax authority [member] | Canada [member] | 2043 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,202
State and local jurisdiction [member] | Canada [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	89,114
State and local jurisdiction [member] | Canada [member] | 2028 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,668
State and local jurisdiction [member] | Canada [member] | 2029 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,773
State and local jurisdiction [member] | Canada [member] | 2030 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,089
State and local jurisdiction [member] | Canada [member] | 2031 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	1,737
State and local jurisdiction [member] | Canada [member] | 2032 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,250
State and local jurisdiction [member] | Canada [member] | 2033 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,721
State and local jurisdiction [member] | Canada [member] | 2034 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,153
State and local jurisdiction [member] | Canada [member] | 2035 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	10,452
State and local jurisdiction [member] | Canada [member] | 2036 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	10,592
State and local jurisdiction [member] | Canada [member] | 2037 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	7,343
State and local jurisdiction [member] | Canada [member] | 2038 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,557
State and local jurisdiction [member] | Canada [member] | 2039 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,501
State and local jurisdiction [member] | Canada [member] | 2040 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	3,808
State and local jurisdiction [member] | Canada [member] | 2041 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	4,822
State and local jurisdiction [member] | Canada [member] | 2042 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	6,367
State and local jurisdiction [member] | Canada [member] | 2043 [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	$ 6,202

Income taxes (Details Narrative

Income taxes (Details Narrative) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
IfrsStatementLineItems [Line Items]
Uncertain tax provision accrued	$ 108
Unrecognized deferred tax assets	111,768		$ 102,838
Germany [member]
IfrsStatementLineItems [Line Items]
Unused tax losses for which no deferred tax asset recognized	225,296	€ 203,833
United states [member]
IfrsStatementLineItems [Line Items]
Unrecognized deferred tax assets	5,342
Unused tax losses for which no deferred tax asset recognized	5,342
RD investment tax credits [member]
IfrsStatementLineItems [Line Items]
Unused tax credits for which no deferred tax asset recognized	1,778
Domestic tax authority [member]
IfrsStatementLineItems [Line Items]
Accumulated non-capital losses	90,436
State and local jurisdiction [member]
IfrsStatementLineItems [Line Items]
Accumulated non-capital losses	$ 89,114

Disclosure of fair value measur

Disclosure of fair value measurement of assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial liabilities at amortised cost, category [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	$ 3,704	$ 3,931
Financial liabilities at amortised cost, category [member] | Lease liabilities [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	160	179
Financial liabilities at amortised cost, category [member] | Payables and accrued liabilities [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	3,544	3,752
Cash and cash equivalent [member] | Financial liabilities at amortised cost, category [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)
Trade and other receivables [member] | Financial liabilities at amortised cost, category [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)
Restricted cash [member] | Financial liabilities at amortised cost, category [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)
Financial assets at amortised cost, category [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	34,415	51,390
Financial assets at amortised cost, category [member] | Lease liabilities [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)
Financial assets at amortised cost, category [member] | Payables and accrued liabilities [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)
Financial assets at amortised cost, category [member] | Cash and cash equivalent [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	34,016	50,611
Financial assets at amortised cost, category [member] | Trade and other receivables [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	67	457
Financial assets at amortised cost, category [member] | Restricted cash [member]
IfrsStatementLineItems [Line Items]
Financial asset (liabilities)	$ 332	$ 322

Financial instruments and fin_3

Financial instruments and financial risk management (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Cash and cash equivalents	$ 34,016	$ 50,611	$ 65,300	$ 24,271
Foreign exchange risk, description	The Company is exposed to foreign exchange risk due to its investments in foreign operations whose functional currency is the Euro. As of December 31, 2023, if the US dollar had increased or decreased by 10% against the Euro
Foreign exchange risk exposure	$ 1,055	823	$ 300
Trade and other current receivables [member] | Credit risk [member]
IfrsStatementLineItems [Line Items]
Trade accounts receivables	67	403
Trade and other current receivables [member] | Credit risk [member] | Financial assets past due but not impaired [member]
IfrsStatementLineItems [Line Items]
Trade accounts receivables

Summary of revenues by geograph

Summary of revenues by geographical area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Revenues (note 5)	$ 4,498	$ 5,640	$ 5,260
Switzerland [member]
IfrsStatementLineItems [Line Items]
Revenues (note 5)	4,317	5,395	5,075
Ireland [member]
IfrsStatementLineItems [Line Items]
Revenues (note 5)	122	82
Denmark [member]
IfrsStatementLineItems [Line Items]
Revenues (note 5)	11	160	185
Other [member]
IfrsStatementLineItems [Line Items]
Revenues (note 5)	$ 48	$ 3

Summary of non-current assets b

Summary of non-current assets by geographical area (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Non Current Assets	$ 649	$ 538
Germany [member]
IfrsStatementLineItems [Line Items]
Non Current Assets	575	463
Canada [member]
IfrsStatementLineItems [Line Items]
Non Current Assets	3	4
United States [member]
IfrsStatementLineItems [Line Items]
Non Current Assets	$ 71	$ 71

Segment information (Details Na

Segment information (Details Narrative)	12 Months Ended
	Dec. 31, 2023 Integer
Disclosure of operating segments [abstract]
Number of operating segments	1

Summary of pertinent data relat

Summary of pertinent data relating to computation of basic and diluted net loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Net loss	$ (16,552)	$ (22,727)	$ (8,368)
Basic weighted-average number of shares outstanding	4,855,876	4,855,876	4,596,980
Diluted weighted-average number of shares outstanding	4,855,876	4,855,876	4,596,980
Diluted loss per share	$ (3.41)	$ (4.68)	$ (1.82)
Diluted loss per share	$ (3.41)	$ (4.68)	$ (1.82)
Stock options and DSUs [member]
Items excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
Share purchase warrants	250,320	138,950	60,375
Warrants [member]
Items excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
Share purchase warrants	457,648	457,648	457,648

Schedule of expected future min

Schedule of expected future minimum lease payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
IfrsStatementLineItems [Line Items]
Total	$ 5,705
Less than 1 year [member]
IfrsStatementLineItems [Line Items]
Total	5,634
1 - 5 years [member]
IfrsStatementLineItems [Line Items]
Total	$ 71

Commitments (Details Narrative)

Commitments (Details Narrative) $ in Thousands	Dec. 31, 2023 USD ($)
IfrsStatementLineItems [Line Items]
Minimum lease payments net	$ 5,705
Top of range [member]
IfrsStatementLineItems [Line Items]
Minimum lease payments net	$ 39,373

Schedule of compensation for ke

Schedule of compensation for key management (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Salaries and short-term benefits	$ 2,025	$ 1,848	$ 1,646
Consultant’s fees		17	163
Post-retirement benefits	37	63	70
Stock-based compensation	284	460	295
Compensation of key management	$ 2,346	$ 2,388	$ 2,174

Subsequent event (Details Narra

Subsequent event (Details Narrative) - Nonadjusting event [member] - Definitive agreement [member]	Dec. 14, 2023 $ / shares
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Share purchase warrants price per share	$ 0.47698
Nominal exercise price	$ 0.01
Description of transaction warrants	Following the closing of the Transaction, the former shareholders of Ceapro will own 50% of Aeterna and the pre-transaction securityholders of Aeterna will own the remaining 50%, assuming the exercise of all Transaction Warrants.
Ceapro Inc. [member]
IfrsStatementLineItems [Line Items]
Common share exchanged price per share	$ 0.09439