Cosmos Health CEO Greg Siokas and CFO George Terzis Collectively Increase Stake by 343,000 Shares Valued at $200,000
Rhea-AI Summary
Cosmos Health (NASDAQ:COSM) announced that CEO Greg Siokas and CFO George Terzis have increased their stake in the company by approximately 343,122 common shares, valued at $200,000. Mr. Siokas acquired 257,334 shares worth $150,000, while Mr. Terzis purchased 85,778 shares valued at $50,000.
The CEO expressed disappointment in the current share price, which he believes is below the company's intrinsic value, but views it as an opportunity for increased investment. He highlighted the company's assets, including growing proprietary brands, a pharmaceutical GMP license for contract manufacturing, and an R&D team working on cancer and obesity treatments.
Positive
- Insider buying: CEO and CFO collectively purchased $200,000 worth of shares
- Company possesses GMP license enabling high-margin contract manufacturing services
- Maintains R&D pipeline in cancer and obesity treatments
- Operates with vertical integration in healthcare products
Negative
- Share price performing significantly below management's expected valuation
- Current profitability concerns indicated by CEO's statement about 'delivering sustained profitability'
News Market Reaction
On the day this news was published, COSM gained 6.02%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHICAGO, IL / ACCESSWIRE / December 23, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that its CEO, Greg Siokas, and CFO, George Terzis, increased their stake in the Company by approximately 343,122 common shares, valued at
Specifically, Mr. Siokas increased his stake by approximately 257,334 common shares, valued at
Greg Siokas, CEO of Cosmos Health, stated: "While I am disappointed that our share price has fallen well below what I believe reflects Cosmos's intrinsic value, I am equally encouraged by the opportunity to increase my stake at such an attractive valuation. This decision, along with our CFO's choice to boost his stake, highlights our shared confidence in the Company's future and its immense potential. Cosmos, among others, boasts exceptional assets, including fast-growing proprietary brands with global reach, a valuable pharmaceutical GMP license enabling vertical integration and high-margin contract manufacturing services (CMO), and a world-class R&D team with a robust pipeline in critical areas such as cancer and obesity. I remain dedicated to delivering sustained profitability, which I firmly believe will, in time, be reflected in our share price."
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, as well as LinkedIn and X.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653
SOURCE: Cosmos Health Inc.
View the original press release on accesswire.com
FAQ
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