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Grigorios Siokas, the Chief Executive Officer of Cosmos Health Inc. (NASDAQ:COSM), has acquired 654,912 shares of the company’s common stock. The transaction comes as the micro-cap healthcare company, currently valued at $8.64 million, trades at just 0.35 times book value. The shares were acquired at an exchange rate of $0.3176 per share, amounting to a total transaction value of $208,000. This acquisition was part of a debt exchange agreement between Mr. Siokas and Cosmos Health, where the company exchanged shares to settle an equivalent debt owed to him. Following this transaction, Mr. Siokas now holds 4,770,214 shares in the company. According to InvestingPro analysis, the stock appears undervalued at current levels, with additional insights revealing the stock is in oversold territory. InvestingPro subscribers have access to 15 more exclusive tips about COSM’s financial health and market position.
In other recent news, Cosmos Health Inc. has announced a significant contract manufacturing agreement with Pharmex S.A. through its subsidiary Cana Laboratories. This deal involves the production of 300,000 bottles per year of the antiseptic drug AMBITASOL 1L over five years, totaling 1.5 million units. Additionally, Cosmos Health has expanded into the Albanian market with its Sky Premium Life food supplements brand, securing an initial annual order from Pharma Cell valued at $300,000. The company has also postponed its planned securities offering, which was to be conducted under its Registration Statement on Form S-1, as it prepares to file its Annual Report on Form 10-K for the fiscal year ending December 31, 2024.
Cosmos Health is advancing its weight management product, CCX0722, to clinical trials, with trials expected to complete between late 2025 and early 2026. The company has also filed two new patent applications aimed at treating glioma and hematologic malignancies, collaborating with Cloudpharm and the National Hellenic Research Foundation. These developments are part of Cosmos Health’s broader growth strategy, which includes expanding its client base and enhancing profitability. The company continues to leverage its AI-powered Cloudscreen drug repurposing platform for drug discovery and repurposing efforts. These recent activities highlight Cosmos Health’s ongoing commitment to expanding its product offerings and market presence.
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