Cosmos Health Secures 3-Year Contract to Manufacture 3.9M Units of Progesterone Pessaries
COSM sits 16% above its 52-week low of $0.195 on elevated volume (4.0× avg).
Summary
Cosmos Health's subsidiary, Cana Laboratories, has signed a three-year contract manufacturing agreement with Verisfield S.A. to produce 3.9 million units of VASCLOR GEST Progesterone Pessaries. This agreement expands Cana's high-margin contract manufacturing division into women's health. The new revenue stream is important for Cosmos Health, which has recently reported a going concern warning, increased cash burn, and is actively utilizing a $100 million At-The-Market (ATM) offering.
At the time of this announcement, COSM was trading at $0.23 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $13.6M. The 52-week trading range was $0.20 to $1.32. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.