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Cosmos Health Inc. (NASDAQ:COSM) Chief Financial Officer Georgios Terzis has acquired 85,778 shares of the company’s common stock. The shares were issued at a price of $0.5829 each, amounting to a total transaction value of $49,999. This acquisition was part of an exchange for a debt of $50,000 owed to Terzis by the company. Following this transaction, Terzis holds a total of 727,263 shares in Cosmos Health. InvestingPro data reveals the company operates with challenging gross profit margins of 8.1%, with additional insights available to subscribers, including 8 more exclusive ProTips about COSM's financial outlook.
In other recent news, Cosmos Health Inc. has made several notable advancements. The company reported a net loss of $33.81 million over the last year, despite achieving a revenue growth of 13.01%. Notably, the company's subsidiary, CosmoFarm, generated record revenues of approximately $43 million in the first ten months of 2024, marking an 8.62% increase. Cosmos Health also reported a slight decrease in Q3 revenue to $12.41 million, but a significant cost reduction of 18.6%.
Additionally, the company has made strategic moves by issuing additional warrants for company stock, representing a 200% increase over previous warrant shares issued. Furthermore, Cosmos Health has appointed Professor Dimitrios Trafalis as Head of Oncology at its Research and Development division, a move expected to accelerate the company's efforts in developing transformative therapies.
In terms of expansion, Cosmos Health has received UK orders for its C-Scrub antimicrobial wash and initiated the development phase for CCDL24, a novel treatment for gastrointestinal disorders. The company's shareholders have also approved key proposals, including the election of directors, issuance of shares, approval of an equity incentive plan, and the potential for reverse stock splits. These are recent developments in Cosmos Health's operations.
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