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CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group with a market capitalization of $16.47 million, announced today the filing of a new patent application aimed at treating allergic inflammation. The patent, filed in collaboration with Cloudpharm and the National Hellenic Research Foundation, with support from NLO's pharma patent experts, represents a development in the company's therapeutic offerings for inflammatory conditions. According to InvestingPro analysis, the company has demonstrated revenue growth of 13% over the last twelve months, though it faces challenges with cash management.
The patent application, under number N2039646, is backed by findings from Cosmos Health's AI-powered Cloudscreen drug repurposing platform, coupled with recent experimental data. These suggest the potential of a repurposed marketed drug to modulate inflammation through a newly identified mechanism of action.
Allergic diseases, which occur when the immune system overreacts to typically harmless substances, have been on the rise, now affecting an estimated 10-30% of people worldwide, according to BMJ Open 2024. The increasing prevalence of such conditions has prompted growth in the allergy treatment market, which Imarc Group projects will expand from $23.5 billion in 2024 to $37.0 billion by 2033. While Cosmos Health appears undervalued based on InvestingPro Fair Value metrics, its current gross profit margin of 8.1% suggests challenges in capitalizing on this market opportunity.
Greg Siokas, CEO of Cosmos Health, commented on the application, highlighting the company's commitment to leveraging AI in drug repurposing to address the challenges of allergic conditions and improve patient care.
Cosmos Health, founded in 2009, operates a diversified portfolio of healthcare products and services, including proprietary pharmaceutical and nutraceutical brands, manufacturing under European GMP, and distribution across retail and wholesale channels. The company has also ventured into telehealth with the acquisition of ZipDoctor, Inc.
This announcement is based on a press release statement and contains forward-looking statements subject to risks and uncertainties, including the company's ability to secure sufficient financing and the impact of external factors such as the COVID-19 pandemic and geopolitical events. With a beta of 3.18 and negative EBITDA of $19.04 million, investors should note the company's elevated risk profile. InvestingPro subscribers can access additional insights, including 8 more ProTips and comprehensive financial health metrics, to better evaluate investment opportunities in the healthcare sector.
In other recent news, Cosmos Health Inc. has made several significant developments. The healthcare group obtained exclusive rights to two patented anticancer drugs, marking a major milestone in its oncology portfolio. Despite a reported net loss of $33.81 million, the company recorded a 13.01% growth in revenue over the past year and reduced costs by 18.6%. Cosmos Health's subsidiary, CosmoFarm, generated record revenues of approximately $43 million in the first ten months of 2024, indicating an 8.62% increase.
The company also secured a licensing agreement to commercialize two patented cancer treatments, further expanding its oncology offerings. Cosmos Health appointed Professor Dimitrios Trafalis as the new Head of Oncology at its Research and Development division, bringing extensive experience to the role.
At a recent shareholders meeting, key proposals such as the election of directors, issuance of shares, approval of an equity incentive plan, and the potential for reverse stock splits were approved. Cosmos Health also received UK orders for its C-Scrub antimicrobial wash and initiated the development phase for CCDL24, a novel treatment for gastrointestinal disorders. These are the latest developments in Cosmos Health's operations.
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