Welcome to our dedicated page for Cosmo Pharmaceuticals Nv news (Ticker: CMOPF), a resource for investors and traders seeking the latest updates and insights on Cosmo Pharmaceuticals Nv stock.
News for COSMO PHARMA NV ORD (CMOPF) centers on the activities of Cosmo Pharmaceuticals N.V., a life sciences company focused on MedTech AI, dermatology, gastrointestinal diseases, and CDMO. Company announcements highlight how Cosmo executes its Vision 2030 strategy, emphasizing recurring revenue growth, AI-enabled medical technologies, and global expansion of its dermatology and GI franchises.
Investors following CMOPF-related news can expect updates on GI Genius™ and the ColonPRO / ColonPRO EU AI platforms for colonoscopy, including regulatory milestones such as CE certification in Europe and clinical evidence from international trials. News also covers the evolution of GI Genius™ into a scalable AI platform, deployment across clinical sites, and initiatives such as spatial-computing usability studies that integrate AI endoscopy modules with advanced visualization devices.
Dermatology news frequently focuses on Winlevi® and clascoterone 5% topical solution. Releases describe new regulatory approvals for Winlevi® in regions including the European Union, South Korea, Brazil, and other territories, as well as commercialization through partners. For clascoterone 5% solution in male androgenetic alopecia, news has detailed Phase III topline results, patient-reported outcomes, safety data, and plans for regulatory submissions in the United States and Europe.
Additional updates include progress in clinical programs for bile acid diarrhea and distal ulcerative colitis, renewal of manufacturing agreements such as the multi-year supply arrangement with Takeda for Mesalazine MMX 1200 mg, and financial communications on revenue mix, recurring revenue trends, and cash position. Bookmark this page to monitor regulatory events, clinical milestones, partnership announcements, and financial disclosures that relate to CMOPF and Cosmo Pharmaceuticals’ multi-platform growth strategy.
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.
On May 24, 2024, Cosmo Pharmaceuticals announced that shareholders approved all agenda items at their annual general meeting. Representing 42.28% of total outstanding shares, 7,417,916 ordinary shares were voted.
Key approvals include electing the Board members for one year, authorizing the Board to issue ordinary shares up to 10% of the nominal value for the next 18 months, and potentially up to 20% in cases of mergers or acquisitions. Additionally, shareholder approval was given to issue shares for the employee stock ownership plan and to issue preferred shares, both valid for 18 months. Furthermore, the Board was authorized to limit pre-emptive rights and buy back up to 10% of Cosmo's shares, valid for the same period.
Cosmo Pharmaceuticals N.V. has been granted an extension until 31 May 2024 to publish its 2023 annual report and file it with SIX Exchange Regulation AG. The company is finalizing accounting treatment with auditors, impacting preliminary unaudited figures. Key figures include a potential €9.0m impact on 2023 operating profit, affecting 2024 guidance.
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