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In a recent transaction, Grigorios Siokas, the Chief Executive Officer of Cosmos Health Inc. (NASDAQ:COSM), acquired 51,414 shares of the company’s common stock. The shares were purchased at a price of $0.6613 per share, amounting to a total transaction value of $34,000. According to InvestingPro data, the stock is currently trading below its Fair Value, with shares showing significant volatility in recent months, declining over 45% in the past six months. This acquisition was part of a debt exchange agreement between Mr. Siokas and Cosmos Health, where the company exchanged shares for the amount it owed to him. Following this transaction, Mr. Siokas now holds a total of 4,255,103 shares directly. InvestingPro analysis reveals the company faces challenges with cash burn and weak gross profit margins of 8.1%. Subscribers can access 8 additional key insights about COSM’s financial health and market position.
In other recent news, Cosmos Health Inc. has reported several significant developments. The healthcare company has filed a patent for an allergy inflammation treatment, in collaboration with Cloudpharm and the National Hellenic Research Foundation. The company has also secured exclusive rights to two patented anticancer drugs and a licensing agreement to commercialize these treatments.
Despite a net loss of $33.81 million, Cosmos Health has achieved a 13% revenue growth over the past year, and its subsidiary, CosmoFarm, generated approximately $43 million in the first ten months of 2024, indicating an 8.62% increase.
In addition, Cosmos Health has appointed Professor Dimitrios Trafalis as the new Head of Oncology at its Research and Development division. During 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.
Finally, the company has 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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