Cosmo Half-Year Report 2021
Cosmo Pharmaceuticals N.V. / Key word(s): Half Year Results
Ad hoc announcement pursuant to Art. 53 LR
Dublin, Ireland - 30 July 2021 - Cosmo Pharmaceuticals N.V. (SIX: COPN) reports half-year results for the period ended 30 June 2021.
Cosmo obtained the first ever FDA approval for a device that uses artificial intelligence that to help detect signs of colon cancer and announced important out-licencing agreements. As a consequence of the Cassiopea licencing deal announced on 26 July, Cosmo will be back to profit before tax in FY21.
Key Events Half-Year 2021 - Products and Business
Financial Highlights Half-Year 2021
Sean MacDonald has resigned from the position of Head of Business Development to pursue other opportunities and in the interim the role will be assumed by the CEO.
Alessandro Della Chà, Chief Executive Officer, said: 'In the first half of 2021 we reached a number of very important milestones including obtaining FDA approval of GI Genius(TM). The business is very well positioned, sales of GI Genius(TM) are about to commence in the US, we are moving to replenish our pipeline and we hold €582m in equity stakes in other companies, investments, loans treasury shares and cash. We expect Cassiopea to close FY21 with a profit as a result of the agreement with Sun for Winlevi(R) and Cosmo's financial results will benefit in line with our stake in Cassiopea. As a result, we estimate that Cosmo will deliver a profit before tax in the range of €4m to €6m in FY21.'
The Half-Year Report 2021 with further information was published on 30 July 2021, 07:00 am CET, and is available for download at:
Half-Year 2021 Results Conference Call on Friday, 30 July 2021, 2:00pm CET
Alessandro Della Chà, CEO and Niall Donnelly, CFO will present the half-year results 2021 and will provide an update of Cosmo's activities. The webcast is scheduled to last 30-45 minutes and will be held in English.
Webcast Participants' Link:
Switzerland / Europe: +41 (0) 58 310 50 00
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13
The presentation is available for download at:
About Cosmo Pharmaceuticals
Cosmo is a specialty pharmaceutical company focused on developing and commercialising products to treat selected gastrointestinal disorders and improve endoscopy quality measures through aiding the detection of colonic lesions. Cosmo has also developed medical devices for endoscopy and has recently entered into a partnership with Medtronic for the global distribution of GI Genius(TM) its artificial intelligence device for use in coloscopies and GI procedures. Cosmo has licensed Aemcolo(TM) to Red Hill Biopharma and is the licensee of BYFAVO(TM) (Remimazolam) for the US for procedural sedation, which it has sub-licensed to Acacia. For additional information on Cosmo and its products please visit the Company's website: www.cosmopharma.com
Niall Donnelly, CFO & Head of Investor Relations
Cosmo Pharmaceuticals N.V.
Tel: +353 1 817 03 70
End of ad hoc announcement
|Company:||Cosmo Pharmaceuticals N.V.|
|Riverside 2, Sir John Rogerson's|
|Dublin 2 Dublin|
|Phone:||+ 353 1 817 0370|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1222892|
|End of Announcement||EQS Group News Service|