Cosmo Pharmaceuticals: Record 2024 Results, AGA Trial Completion, and Dividend Boost

Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) has delivered record unaudited results for the fiscal year ending December 31, 2024, marking a significant milestone in its growth journey. The company reported revenue of €266.8 million, a 188% year-over-year increase, driven by strong performance across its key growth drivers, GI Genius™ and Winlevi®. Cosmo's solid financial performance was further bolstered by the completion of Phase III enrollment for androgenetic alopecia (AGA) in males, and a proposed increased dividend of €2.05 per share.

Record Revenue and Profitability

Cosmo Pharmaceuticals' revenue growth was fueled by its core business, with recurring revenues of €85-90 million, reflecting double-digit growth of 11% - 17% year-over-year. The company's operating profit reached €148.9 million, and EBITDA stood at €161.2 million, up 1,517% from the previous year. Cosmo's strong cash position of €170.4 million and zero debt have enabled it to remain strategically focused on advancing treatments for diseases with significant unmet needs.

Phase III Enrollment Completion for AGA in Males

Cosmo Pharmaceuticals successfully completed Phase III enrollment for its androgenetic alopecia (AGA) treatment in males, with a total of 1,495 patients recruited across two identical, well-designed trials (SCALP 1 and SCALP 2). The completion of this milestone brings Cosmo one step closer to potentially securing FDA approval for clascoterone solution as a treatment for AGA in males, addressing a substantial market with high unmet needs.

Proposed Increased Dividend

Cosmo Pharmaceuticals proposed an increased dividend of €2.05 per share for 2024, reflecting its solid financial performance and commitment to returning value to shareholders. The proposed dividend represents a 2.5% increase compared to the prior year, demonstrating the company's confidence in its future growth prospects.

Looking Ahead to 2025

For 2025, Cosmo Pharmaceuticals projects total revenues of €102-107 million, with recurring revenues of €85-90 million. The company plans to invest €40 million in R&D, focusing on advancing its pipeline and addressing unmet medical needs. Cosmo's strategic R&D investments, combined with its core business growth, position the company well for continued success in the coming years.

Cosmo Pharmaceuticals' record 2024 results, completion of Phase III enrollment for AGA in males, and proposed increased dividend reflect the company's strong performance and commitment to driving growth and shareholder value. As Cosmo looks ahead to 2025, investors can expect the company to continue delivering on its strategic objectives and reinforcing its position as a leader in the healthcare sector.