Cosmo Pharmaceuticals Nv Stock Price, News & Analysis

Cosmo Pharmaceuticals has appointed Egle Gedrimaite as the new Head of Global Business Development, effective October 1, 2024. Egle brings 15 years of experience in business development and alliance management across pharmaceutical, medical device, and nutraceutical industries. She will report to Giovanni Di Napoli, CEO of Cosmo.

Egle's expertise includes developing successful business in both B2B and B2C sectors, and driving development projects from inception to completion. She holds a degree in International Communications and Communication Systems from the Università per Stranieri di Perugia.

Giovanni Di Napoli expressed enthusiasm about the appointment, emphasizing Cosmo's focus on innovation, excellence, and growth. He also reflected on his first three months as CEO, highlighting the company's commitment to expanding its global footprint and creating value for shareholders.

Cosmo Pharmaceuticals has announced the publication of a landmark study in The Lancet, demonstrating the efficacy of their GI Genius™ intelligent endoscopy system in colonoscopy procedures. The COLO-DETECT study, a multicentre, open-label, randomised controlled trial, showed that GI Genius™ improved the detection of colorectal adenomas in an additional 8.3% of patients compared to standard colonoscopy practices.

This significant advancement in colorectal cancer screening could potentially reduce cancer incidence. The study reinforces the value of integrating AI into routine clinical practice for enhanced accuracy in cancer screening. Cosmo Pharmaceuticals, in partnership with Medtronic for global distribution, remains committed to advancing patient care through AI-assisted healthcare technology.

Cosmo Intelligent Medical Devices (Cosmo IMD), a division of Cosmo Pharmaceuticals, has received FDA 510(k) clearance for its next-generation GI Genius™ hardware. This sixth-generation device, exclusively distributed by Medtronic globally, represents a significant advancement in AI-enhanced endoscopy. Key features include:

1. Enhanced AI capabilities
2. Versatile AI app integration
3. Improved connectivity
4. Energy efficiency
5. Reliable performance

The hardware incorporates the FDA-cleared ColonPRO™ software, designed to assist endoscopists in identifying potential polyps during colorectal cancer screenings. Utilizing NVIDIA IGX Orin™ and NVIDIA Holoscan™ technologies, the GI Genius™ system aims to elevate physician performance and standardize quality metric reporting in healthcare.

Cosmo Pharmaceuticals N.V. (SIX: COPN, FSE: C43) reported robust financial performance for H1 2024, confirming its full-year guidance. Key highlights include:

- Health Tech: $100 million upfront payment from Medtronic, with an additional $100 million expected this year
- Dermatology: Winlevi® continues as the #1 prescribed topical acne product in the U.S.
- Revenue increased to €136.2 million (H1 2023: €43.7 million)
- EBITDA of €94.2 million
- Operating profit of €87.0 million (H1 2023: €7.1 million)
- Net profit of €76.1 million (H1 2023: €1.5 million)

The company confirmed its 2024 guidance with total revenues expected in the range of €260-270 million and operating profit between €159-169 million.

Cosmo Pharmaceuticals will release its Half-Year 2024 results on Wednesday, 24 July 2024, at 07:00 am CEST. The company invites investors, analysts, and journalists to a live video webcast at 2:00 pm CEST the same day, featuring a Q&A session. The webcast will be hosted by CEO Giovanni Di Napoli, CFO Niall Donnelly, and other members of the leadership team. Participants can join via a provided webcast link or phone, with key numbers for Switzerland/Europe, the UK, and the US. The Half-Year Report and replay of the webcast will be available online for three months post-event.

On July 5, 2024, Cosmo Pharmaceuticals' shareholders approved all resolutions proposed by the Board of Directors at an Extraordinary General Meeting. Key decisions included a 90% increase in dividend distribution to €2.00 per ordinary share, payable on July 12, 2024. The FY2023 annual accounts were adopted, and updates to the company's remuneration policy were approved. A total of 7,173,931 ordinary shares were represented, constituting 40.89% of Cosmo's total outstanding shares.

Cosmo Pharmaceuticals announced the approval of its oral diagnostic drug, Lumeblue, for the Chinese market by the National Medical Products Administration (NMPA) on June 11, 2024. The corresponding Drug Registration Certificate was also obtained on June 18, 2024. Lumeblue, developed for colorectal cancer screening and diagnosis, shows significant improvement in detecting non-polypoid colorectal lesions, as demonstrated in a phase III clinical trial in China. The drug will be exclusively supplied by Cosmo and distributed by China Medical System Holdings (CMS). China's colorectal cancer screening is expected to grow due to an aging population, highlighting the potential market for Lumeblue.

Cosmo Pharmaceuticals has announced that its GI Genius platform will integrate NVIDIA's IGX platform, with availability expected in Q3 2024. GI Genius, developed and distributed in partnership with Medtronic, is the world's first real-time AI-enabled medical device designed to assist physicians during endoscopic procedures. To date, it has impacted over 3 million patients globally. The new integration with NVIDIA IGX aims to enhance performance, security, and AI capabilities, including generative AI and real-time communication, thereby fast-tracking the development and deployment of new AI applications in healthcare.

Cosmo IMD's GI Genius platform has been a leader in AI medical devices, and this move is expected to further solidify its position. The platform is currently in the final stage of regulatory approval. The announcement highlights the company's commitment to innovation and its strategic partnership with NVIDIA to bring cutting-edge AI technology to patient care.

Cosmo Pharmaceuticals announced its final audited results for 2023, showcasing strong growth. The company reported revenues of €92.8 million, EBITDA of €20.4 million, operating profit of €6.1 million, and a net cash inflow from operating activities of €33.6 million. Despite a net loss after taxes of €4.7 million, Cosmo remains debt-free with a net cash position of €136.1 million as of April 30, 2024. A dividend of €2.00 per share (up 90.5% from last year) will be proposed. Cosmo's partnership with Medtronic has strengthened its financial position, with a $100 million upfront payment received and another $100 million expected by the end of 2024. Key products GI Genius and Winlevi continue to perform well, while Cosmo's development pipeline progresses with several clinical trials. The company has increased its 2024 operating profit guidance by €4.4 million, anticipating operating profits between €159.4 million and €169.4 million, and total revenues between €260 million and €270 million.