Welcome to our dedicated page for COSMO PHARMA NV ORD news (Ticker: CMOPF), a resource for investors and traders seeking the latest updates and insights on COSMO PHARMA NV ORD stock.
Cosmo Pharma NV ORD (CMOPF) is a pharmaceutical company focused on developing and commercializing products to treat gastrointestinal disorders, aid in colonic lesion detection, and address dermatological conditions. The company's core products include Lialda/Mezavant/Mesavancol, Uceris/Cortiment, Aemcolo/Relafalk, Lumeblue, and Winlevi. Cosmo's partnership with Medtronic for GI Genius, an AI-based system for colon cancer detection, has resulted in significant advancements in the healthcare sector. The company's commitment to responsible and regulated AI in healthcare is evident through initiatives like the AI Access program and integration of the NVIDIA IGX platform into GI Genius, enabling real-time patient care and innovative medical solutions.
Cosmo Pharmaceuticals has announced that its GI Genius platform will integrate NVIDIA's IGX platform, with availability expected in Q3 2024. GI Genius, developed and distributed in partnership with Medtronic, is the world's first real-time AI-enabled medical device designed to assist physicians during endoscopic procedures. To date, it has impacted over 3 million patients globally. The new integration with NVIDIA IGX aims to enhance performance, security, and AI capabilities, including generative AI and real-time communication, thereby fast-tracking the development and deployment of new AI applications in healthcare.
Cosmo IMD's GI Genius platform has been a leader in AI medical devices, and this move is expected to further solidify its position. The platform is currently in the final stage of regulatory approval. The announcement highlights the company's commitment to innovation and its strategic partnership with NVIDIA to bring cutting-edge AI technology to patient care.
Cosmo Pharmaceuticals announced its final audited results for 2023, showcasing strong growth. The company reported revenues of €92.8 million, EBITDA of €20.4 million, operating profit of €6.1 million, and a net cash inflow from operating activities of €33.6 million. Despite a net loss after taxes of €4.7 million, Cosmo remains debt-free with a net cash position of €136.1 million as of April 30, 2024. A dividend of €2.00 per share (up 90.5% from last year) will be proposed. Cosmo's partnership with Medtronic has strengthened its financial position, with a $100 million upfront payment received and another $100 million expected by the end of 2024. Key products GI Genius and Winlevi continue to perform well, while Cosmo's development pipeline progresses with several clinical trials. The company has increased its 2024 operating profit guidance by €4.4 million, anticipating operating profits between €159.4 million and €169.4 million, and total revenues between €260 million and €270 million.
On May 24, 2024, Cosmo Pharmaceuticals announced that shareholders approved all agenda items at their annual general meeting. Representing 42.28% of total outstanding shares, 7,417,916 ordinary shares were voted.
Key approvals include electing the Board members for one year, authorizing the Board to issue ordinary shares up to 10% of the nominal value for the next 18 months, and potentially up to 20% in cases of mergers or acquisitions. Additionally, shareholder approval was given to issue shares for the employee stock ownership plan and to issue preferred shares, both valid for 18 months. Furthermore, the Board was authorized to limit pre-emptive rights and buy back up to 10% of Cosmo's shares, valid for the same period.
Cosmo Pharmaceuticals N.V. has been granted an extension until 31 May 2024 to publish its 2023 annual report and file it with SIX Exchange Regulation AG. The company is finalizing accounting treatment with auditors, impacting preliminary unaudited figures. Key figures include a potential €9.0m impact on 2023 operating profit, affecting 2024 guidance.
FAQ
What is the current stock price of COSMO PHARMA NV ORD (CMOPF)?
What is the market cap of COSMO PHARMA NV ORD (CMOPF)?
What is Cosmo Pharma NV ORD (CMOPF) focused on?
What are some of Cosmo's core products?
What is the significance of Cosmo's partnership with Medtronic?
How is Cosmo contributing to responsible AI in healthcare?
What are Cosmo's key focus areas for innovation?
