Grigorios Siokas, the Chief Executive Officer of Cosmos Health Inc. (NASDAQ:COSM), has acquired 29,158 shares of the company's common stock. The micro-cap healthcare company, currently valued at $18 million, has seen its stock surge nearly 25% in the past week, according to InvestingPro data. The shares were obtained at a price of $0.8574 each, totaling $25,000. This transaction was part of a debt exchange agreement, where the company settled its debt to Mr. Siokas by issuing these shares. Following this acquisition, Mr. Siokas now holds a total of 4,164,789 shares in the company. Trading at $0.91, the stock currently sits 54% below its 52-week high of $1.58. InvestingPro analysis indicates the stock is currently undervalued, with 8 additional exclusive insights available to subscribers.
In other recent news, Cosmos Health has seen a flurry of activity. The company reported a slight decrease in quarterly revenue to $12.41 million, but significantly reduced costs by 18.6%. Its subsidiary, CosmoFarm, generated record revenues of approximately $43 million in the first ten months of 2024, marking an 8.62% increase. Cosmos Health also issued additional warrants for company stock, a strategic move representing a 200% increase over previously issued warrant shares.
The healthcare group appointed Professor Dimitrios Trafalis as Head of Oncology at its Research and Development division, even as it recorded a net loss of $33.81 million in the last twelve months. Meanwhile, Cosmos Health received UK orders for its C-Scrub antimicrobial wash and initiated the development phase for CCDL24, a novel treatment for gastrointestinal disorders.
Shareholders approved key proposals, including the election of directors, issuance of shares, approval of an equity incentive plan, and the potential for reverse stock splits. These are among the recent developments in Cosmos Health's operations.
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