Cosmos Holdings Inc. - COSM STOCK NEWS

Cosmos Holdings (NASDAQ:COSM) reported Q3 2022 revenues of $12.0M, down from $13.6M in Q3 2021, primarily due to foreign exchange variations. Gross margins decreased to 14.8% from 17.3% year-over-year. Operating expenses were reduced by 34.7% to $2.1M. Adjusted EBITDA stood at $0.5M, down from $1.2M. The company raised $7.5M through a public offering and made significant strategic agreements, enhancing their market presence in healthcare distribution.

Cosmos Health, Inc. (NASDAQ:COSM) announced an exclusive agreement to distribute Nickelodeon's SpongeBob and PAW Patrol kids' vitamins in Greece and Cyprus. The vitamins, produced in the UK by ParkAcre, target preschool and slightly older children. CEO Greg Siokas expressed enthusiasm for the initial demand from major retailers, including pharmacies, and the strong marketing support from Nickelodeon. Cosmos aims to reach 11,000 pharmacies and 120 wholesalers in Greece and 780 pharmacies in Cyprus, enhancing its distribution capabilities in the health and wellness market.

Cosmos Holdings (NASDAQ:COSM) announced a public offering of 62.5 million shares at $0.12 each, raising $7.5 million before expenses. The Series A and B Warrants accompany the shares, enabling investors to purchase additional stock. The funds will be used for acquisitions, settling liabilities, and general corporate needs. The closing date is anticipated around October 20, 2022. The offering is backed by A.G.P./Alliance Global Partners and follows an effective registration statement with the SEC.

Cosmos Holdings (NASDAQ:COSM) announced a warrant exchange agreement that replaces structured warrants with new vanilla warrants. Existing holders will exchange 21,238,254 existing warrants for new ones, allowing them to purchase twice the number of shares at $0.205 each over the next five years. The agreement aims to provide $2 million from future financings while alleviating concerns about the company’s financial structure. CEO Greg Siokas emphasized that this move enhances financial flexibility and supports the company's growth plans.

Cosmos Health (NASDAQ:COSM) has announced a non-binding letter of intent to acquire ZipDoctor Inc., a telemedicine platform, from American International Holdings Corp (AMIH). ZipDoctor, which offers 24/7 access to healthcare professionals via a subscription model, will continue to be managed by AMIH. The telehealth market is projected to grow from $23.8 billion in 2021 to $309.9 billion by 2030, driven by a shortage of healthcare professionals. Cosmos aims to enhance ZipDoctor's services, capitalizing on the significant growth potential in the telehealth sector.

Cosmos Holdings (NASDAQ: COSM) has signed an exclusive agreement with Virax Biolabs to distribute Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with potential for broader distribution in Europe. The deal aims to meet the increasing demand for efficient Monkeypox testing, as highlighted by the CDC's report of over 61,282 confirmed cases globally. CEO Greg Siokas expressed optimism about the partnership enhancing market access for these crucial diagnostic tools.

Virax Biolabs Group Limited (Nasdaq: VRAX) has entered an exclusive distribution agreement with Cosmos Holdings Inc. (Nasdaq: COSM) to market Monkeypox Virus Real-Time PCR Detection Kits in Greece and Cyprus, with non-exclusive distribution rights across Europe. This partnership aims to enhance rapid diagnosis and containment of the Monkeypox virus, a growing global health concern with over 61,000 confirmed cases reported in 104 countries as of September 16, 2022. Financial terms of the deal remain undisclosed.

Cosmos Health (Nasdaq: COSM) is expanding its Sky Premium Life nutraceutical line by launching products in Germany and Austria through an exclusive agreement with Mediprovita GbR. Starting in the Fourth Quarter, 20 SKUs will be available via platforms like Amazon and eBay. Cosmos aims to increase its offering to 70 SKUs and is leveraging Mediprovita's distribution expertise. This move is strategic as Germany holds the largest nutraceutical market in Europe, expected to grow significantly by 2027.

Cosmos Health (NASDAQ:COSM) announced the launch of its Sky Premium Life (SPL) products on Amazon in the U.S. The initiative is part of a broader strategy to have all 85 SKUs listed by year-end, following similar launches in the U.K. and Singapore. CEO Greg Siokas highlighted the company's aim to expand globally, leveraging logistic capabilities amid a growing nutraceutical market projected to reach $138 billion by 2027. Cosmos Health focuses on R&D of novel nutraceuticals and pharmaceuticals, aiming to enhance its international customer base.