Cosmos Health Inc. Stock Price, News & Analysis

Cosmos Health, Inc. (Nasdaq: COSM) announced recent share activity, highlighting CEO Greg Siokas's participation in capital raises totaling $3M in 2022. The company raised $13.5M across two financing rounds and expects to reduce its debt by about 50% by year-end 2022. Siokas, who has invested over $10.6M in Cosmos since 2019, maintains a strong belief in the company's potential for growth and profitability. Management reaffirms confidence in the firm's financial strength and commitment to enhancing shareholder value.

Cosmos Health (NASDAQ:COSM) has commenced development for CCX0722, a groundbreaking obesity treatment utilizing biocompatible 3D spatial fillers derived from natural ingredients. This innovative product aims to enhance satiety and decrease appetite, with clinical trials scheduled for Q4 2023. Developed in collaboration with Cloudpharm, CCX0722 is positioned to address the increasing global demand for effective weight management solutions, projected to reach USD $132.7 billion by 2021, growing at a CAGR of 9.7% through the next decade.

Cosmos Health (NASDAQ: COSM) announced its appeal against a Nasdaq delisting due to a failure to maintain a minimum bid price of $0.10 per share. The company received a non-compliance letter on November 10, 2022, following a previous notice regarding its inability to meet a $1.00 per share requirement. Trading under Nasdaq will continue beyond November 21, 2022, as the company seeks a reverse stock split approval at its December 2, 2022, shareholder meeting. CEO Greg Siokas emphasized their commitment to remedying the situation for shareholders.

Cosmos Holdings (NASDAQ:COSM) reported Q3 2022 revenues of $12.0M, down from $13.6M in Q3 2021, primarily due to foreign exchange variations. Gross margins decreased to 14.8% from 17.3% year-over-year. Operating expenses were reduced by 34.7% to $2.1M. Adjusted EBITDA stood at $0.5M, down from $1.2M. The company raised $7.5M through a public offering and made significant strategic agreements, enhancing their market presence in healthcare distribution.

Cosmos Health, Inc. (NASDAQ:COSM) announced an exclusive agreement to distribute Nickelodeon's SpongeBob and PAW Patrol kids' vitamins in Greece and Cyprus. The vitamins, produced in the UK by ParkAcre, target preschool and slightly older children. CEO Greg Siokas expressed enthusiasm for the initial demand from major retailers, including pharmacies, and the strong marketing support from Nickelodeon. Cosmos aims to reach 11,000 pharmacies and 120 wholesalers in Greece and 780 pharmacies in Cyprus, enhancing its distribution capabilities in the health and wellness market.

Cosmos Holdings (NASDAQ:COSM) announced a public offering of 62.5 million shares at $0.12 each, raising $7.5 million before expenses. The Series A and B Warrants accompany the shares, enabling investors to purchase additional stock. The funds will be used for acquisitions, settling liabilities, and general corporate needs. The closing date is anticipated around October 20, 2022. The offering is backed by A.G.P./Alliance Global Partners and follows an effective registration statement with the SEC.

Cosmos Holdings (NASDAQ:COSM) announced a warrant exchange agreement that replaces structured warrants with new vanilla warrants. Existing holders will exchange 21,238,254 existing warrants for new ones, allowing them to purchase twice the number of shares at $0.205 each over the next five years. The agreement aims to provide $2 million from future financings while alleviating concerns about the company’s financial structure. CEO Greg Siokas emphasized that this move enhances financial flexibility and supports the company's growth plans.

Cosmos Health (NASDAQ:COSM) has announced a non-binding letter of intent to acquire ZipDoctor Inc., a telemedicine platform, from American International Holdings Corp (AMIH). ZipDoctor, which offers 24/7 access to healthcare professionals via a subscription model, will continue to be managed by AMIH. The telehealth market is projected to grow from $23.8 billion in 2021 to $309.9 billion by 2030, driven by a shortage of healthcare professionals. Cosmos aims to enhance ZipDoctor's services, capitalizing on the significant growth potential in the telehealth sector.

Cosmos Holdings (NASDAQ: COSM) has signed an exclusive agreement with Virax Biolabs to distribute Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with potential for broader distribution in Europe. The deal aims to meet the increasing demand for efficient Monkeypox testing, as highlighted by the CDC's report of over 61,282 confirmed cases globally. CEO Greg Siokas expressed optimism about the partnership enhancing market access for these crucial diagnostic tools.