Cosmos Health Inc. Stock Price, News & Analysis

Cosmos Health (NASDAQ:COSM) reported its full-year 2024 financial results, showing a 2% revenue increase to $54.43 million from $53.38 million in 2023. The company achieved a significant 24.16% reduction in operating expenses to $19.86 million, including a 40.26% cut in administrative expenses and 71% decrease in marketing costs.

Gross margin slightly declined to 7.92% from 8.15% in 2023. The company reported an Adjusted EBITDA of negative $3.73 million, compared to positive $0.06 million in 2023. Total assets decreased by 17.72% to $54.31 million, while maintaining a 55% liabilities-to-assets ratio.

Key developments include AI-driven patent filings for multiple diseases, advancement of weight management solution CCX0722, expansion of manufacturing capabilities, and securing a €2.2 million bond loan at 2.95% interest plus Euribor. The company also expanded its Sky Premium Life brand globally and integrated cryptocurrency as treasury reserve assets.

Cosmos Health (NASDAQ:COSM) announces completion of manufacturing upgrades at its subsidiary Cana Laboratories and signs a significant 5-year contract manufacturing agreement with Pharmex S.A. The deal involves producing 300,000 bottles annually of the antiseptic drug AMBITASOL 1L, totaling 1.5 million units over the contract period.

Cana Laboratories, acquired by Cosmos Health in July 2023, operates an Athens facility licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA). The facility can manufacture various pharmaceuticals including tablets, capsules, syrups, nasal sprays, creams, gels, antiseptics, and biocides.

This agreement with Pharmex, a specialty pharmaceutical company established in 1981, represents part of Cosmos Health's strategy to expand its high-margin contract manufacturing business.

Cosmos Health (NASDAQ:COSM) has announced the launch of its Sky Premium Life food supplements brand in Albania through a partnership with Pharma Cell. The company has secured an initial annual order worth $300,000 from Pharma Cell, which will serve as the distributor in Albania.

Pharma Cell, based in Tirana, is a pharmaceutical company specializing in import and export of food supplements. Founded in 2021 by CEO Elvis Punmira, the company has established a growing network of pharmacies and healthcare professionals across Albania.

Cosmos Health (NASDAQ:COSM) has announced a significant expansion of its Sky Premium Life nutraceutical brand with the addition of 60 new SKUs, bringing the total product count to over 150. The expansion supports the brand's global growth through new distribution agreements across multiple territories, including presence in pharmacies and international retail chains like Holland & Barrett, as well as e-commerce platforms like Amazon.

The company's R&D department has developed several new products, including:

• Kakadu Plum with high vitamin C concentration
• Good Morning & Good Night energy and sleep formulations
• ZenBlend for relaxation and sleep
• Skinovate for skin rejuvenation
• Electrolytes in cherry and lemon flavors

Cosmos Health (NASDAQ:COSM) has announced it will not proceed with its planned offering under Form S-1 until after filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The company, which operates as a diversified healthcare group focusing on pharmaceutical and nutraceutical brands, manufacturing, distribution, and telehealth services, has postponed any potential offering until after the annual financial reporting is complete.

Cosmos Health (NASDAQ:COSM) announced entering the final development phase of CCX0722, its weight management solution. The company is finalizing scale-up production and engaging with Contract Research Organizations (CROs) to complete the technical dossier. Clinical trials are expected to complete between late 2025 and early 2026, with product launch targeted for Q1 or Q2 2026.

The product is seeking potential classification as a Class III medical device. The company aims to enter the global weight management market, valued at $142.58 billion in 2022 with an expected CAGR of 9.7% from 2023 to 2030. CCX0722 is described as a biocompatible hydrogel solution targeting the growing obesity epidemic.

Cosmos Health (NASDAQ:COSM) has filed two new patent applications for innovative cancer treatments using AI-driven drug repurposing. The first patent (N2039647) targets glioma, an aggressive brain cancer, while the second (N2039645) focuses on hematologic malignancies, including multiple myeloma.

The developments stem from the company's collaboration with Cloudpharm and the National Hellenic Research Foundation, utilizing their AI-powered Cloudscreen platform. Recent in vitro studies have validated the therapeutic potential of a repurposed marketed drug for both indications.

The global market outlook is promising, with the glioma treatment market valued at $3.58 billion in 2024, projected to reach $5.1 billion by 2032 (5.20% CAGR). The hematologic malignancies treatment market was valued at $22.23 billion in 2022, expected to reach $41.7 billion by 2032 (6.5% CAGR).

Cosmos Health (NASDAQ:COSM) has appointed Dimitris Moraitis as Vice President of Strategy & Operations. Moraitis brings over 25 years of experience in strategic planning, operations, and business development within the pharmaceutical sector. He has previously held leadership positions at major pharmaceutical companies including DEMO, MENARINI, VIANEX Group, and TIKUN OLAM Europe.

Moraitis has also served as a leader and board member of several prominent pharmaceutical associations, including AESGP (Association of the European Self-Care Industry), EfEX (Hellenic Association of Self-Care Products), SEPTEDE (Association of Enterprises for Infant Nutrition & Special Dietary Products of Greece), and SAFFE (Hellenic Association of Pharmaceutical Enterprises & Representatives).

Cosmos Health (NASDAQ:COSM) has announced that its subsidiary, Cana Laboratories, has secured a new 10-year contract manufacturing agreement with Provident Pharmaceuticals to produce four pharmaceutical products. The agreement covers the production of 8 million packs over the contract period, consisting of:

- Miorelique® (Baclofen oral solution): 200,000 packs annually
- BE Union F.C. (Vitamin B-complex tablets): 400,000 packs annually
- Certorun (Sertraline capsules) in 50mg and 100mg: 200,000 combined packs annually

Cana Laboratories currently operates with two shifts and has the capacity to expand to three shifts to meet increased demand. The products are generic versions of established medications Lioresal, Neurobion, and Zoloft, respectively.