Cosmos Well being CEO acquires $25,000 in inventory by means of debt change

Grigorios Siokas, the Chief Government Officer of Cosmos Well being Inc. (NASDAQ:COSM), has acquired 29,158 shares of the corporate’s frequent inventory. The micro-cap healthcare firm, at present valued at $18 million, has seen its inventory surge practically 25% up to now week, in response to InvestingPro information. The shares had been obtained at a worth of $0.8574 every, totaling $25,000. This transaction was a part of a debt change settlement, the place the corporate settled its debt to Mr. Siokas by issuing these shares. Following this acquisition, Mr. Siokas now holds a complete of 4,164,789 shares within the firm. Buying and selling at $0.91, the inventory at present sits 54% beneath its 52-week excessive of $1.58. InvestingPro evaluation signifies the inventory is at present undervalued, with 8 extra unique insights obtainable to subscribers.

In different latest information, Cosmos Well being has seen a flurry of exercise. The corporate reported a slight lower in quarterly income to $12.41 million, however considerably decreased prices by 18.6%. Its subsidiary, CosmoFarm, generated document revenues of roughly $43 million within the first ten months of 2024, marking an 8.62% enhance. Cosmos Well being additionally issued extra warrants for firm inventory, a strategic transfer representing a 200% enhance over beforehand issued warrant shares.

The healthcare group appointed Professor Dimitrios Trafalis as Head of Oncology at its Analysis and Improvement division, even because it recorded a web lack of $33.81 million within the final twelve months. In the meantime, Cosmos Well being obtained UK orders for its C-Scrub antimicrobial wash and initiated the event section for CCDL24, a novel therapy for gastrointestinal issues.

Shareholders accredited key proposals, together with the election of administrators, issuance of shares, approval of an fairness incentive plan, and the potential for reverse inventory splits. These are among the many latest developments in Cosmos Well being’s operations.

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