Grigorios Siokas, Chief Executive Officer of Cosmos Health Inc. (NASDAQ:COSM), a small-cap healthcare company with annual revenue of $56 million and market capitalization of $13 million, has acquired 163,666 shares of the company's common stock. This acquisition was made at a price of $0.611 per share, totaling approximately $100,000. The transaction was part of a debt exchange agreement, where shares were exchanged for the amount owed by the company to Mr. Siokas. Following this transaction, Mr. Siokas holds 3,937,980 shares directly. InvestingPro analysis shows the company faces challenges with an 8.1% gross profit margin and significant share price decline of over 50% in the past six months. According to InvestingPro's Fair Value model, the stock currently appears undervalued. Discover more insights and 10 additional ProTips with an InvestingPro subscription.
In other recent news, Cosmos Health Inc. reported significant developments. The company's subsidiary, CosmoFarm, registered record revenues of approximately $43 million in the first ten months of 2024, marking an 8.62% increase. The company also reported stable Q3 financials, with a slight decrease in quarterly revenue to $12.41 million, but a significant cost reduction of 18.6%.
Cosmos Health also announced the appointment of Professor Dimitrios Trafalis as Head of Oncology at its Research and Development division. The company issued additional warrants for company stock, a strategic move that represents a 200% increase over previous warrant shares issued.
In terms of expansion, Cosmos Health received UK orders for its C-Scrub antimicrobial wash and initiated the development phase for CCDL24, a novel treatment for gastrointestinal disorders. At a recent shareholders meeting, key proposals such as the election of directors, issuance of shares, approval of an equity incentive plan, and the potential for reverse stock splits were approved.
These are recent developments in Cosmos Health's operations, highlighting the company's strategic growth and financial stability.
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