The acquisition is part of a debt exchange agreement between Mr. Siokas and Cosmos Health, where the shares were exchanged for a debt of $30,000 owed to him by the company. InvestingPro subscribers can access 8 additional key insights about COSM's financial health and market position. Following this transaction, Mr. Siokas holds a total of 4,203,689 shares in Cosmos Health.
The acquisition is part of a debt exchange agreement between Mr. Siokas and Cosmos Health, where the shares were exchanged for a debt of $30,000 owed to him by the company. InvestingPro subscribers can access 8 additional key insights about COSM's financial health and market position. Following this transaction, Mr. Siokas holds a total of 4,203,689 shares in Cosmos Health.
In other recent news, Cosmos Health Inc. has reported a series of significant developments. The healthcare company has secured exclusive rights to two patented anticancer drugs, potentially impacting cancer treatment paradigms. Additionally, Cosmos Health reported a net loss of $33.81 million, but also a 13.01% growth in revenue over the past year. The company has made efforts to reduce costs by 18.6%.
Cosmos Health has also appointed Professor Dimitrios Trafalis as the new Head of Oncology at its Research and Development division. In a recent shareholders meeting, key proposals, including the election of directors, issuance of shares, an equity incentive plan, and the potential for reverse stock splits, were approved by the majority.
The company's Q3 financials showed a slight decrease in quarterly revenue to $12.41 million, but a significant reduction in costs. Cosmos Health's subsidiary, CosmoFarm, generated record revenues of approximately $43 million in the first ten months of 2024, marking an 8.62% increase. Lastly, Cosmos Health has received UK orders for its C-Scrub antimicrobial wash and initiated the development phase for CCDL24, a novel treatment for gastrointestinal disorders. These are the latest developments in Cosmos Health's operations.
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