EQS Group-Ad-hoc: Cosmo Pharmaceuticals N.V. / Key word(s): Miscellaneous 
Cosmo Full-Year Report 2020: Cosmo returns to operating profit 
26-March-2021 / 06:00 GMT/BST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
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Press Release (PDF) 
Dublin, Ireland - 26 March 2020: Cosmo Pharmaceuticals N.V. (SIX: COPN) reports Full-Year results for the year ended 31 
December 2020. 
In 2020, Cosmo received European approval for Methylene Blue MMX(R), received FDA approval for BYFAVO(TM), continued to 
execute its equity for product strategy and has returned to operating profit. The Company is very well positioned with 
EUR212.9 million in cash and significant equity stakes in other companies. 
Financial Highlights Full-Year 2020 
  . Revenue EUR60.9 million compared to EUR 62.5 million in 2019. 
  . Net expenses EUR54.0 million compared to EUR74.8 million in 2019 following restructuring of business. 
  . Operating profit of EUR6.9 million compared to an operating loss of EUR12.3 million in 2019. 
  . Loss after tax of EUR7.9 million, including share of our associate Cassiopea loss of EUR4.9 million, compared with a 
    loss after tax of EUR24.5 million in 2019. 
  . Cashflow inflow from operating activities of EUR10.1 million compared to a cash outflow from operating activities of 
    EUR17.6 million in 2019. 
  . Cash & liquid investments EUR212.9 million compared to EUR268.2 million 2019, of which EUR45 million of the movement 
    related to our investment in and loan to Acacia. 
  . Market value of Cosmo's stake in Cassiopea, equity investments, treasury shares, loans and cash & liquid 
    investments at 31 December 2020 EUR624.6 million. 
  . Equity EUR400.1m vs EUR393.7m at 31 December 2019. 
Key Events 2020 - Products and Business 
  . BYFAVO(TM) sub-licensed to Acacia Pharma Group (EURONEXT: ACPH) in an equity for product deal and subsequently 
    approved by the FDA. Cosmo now owns 19.66% of Acacia and has advanced a EUR25 million loan to the company. 
  . Very positive results of the first investigator initiated prospective clinical study of GI Genius(TM) announced, 
    ADR (Adenoma Detection Rate) and APC (Adenoma Per Colonoscopy) were significantly higher in the GI Genius(TM) group 
    compared to the control group. 
  . GI Genius(TM) approved in Australia, Israel and the United Arab Emirates. 
  . Methylene Blue MMX(R) approved in Europe and European rights (plus Switzerland, the U.K., EEA countries, Russia and 
    Mexico) subsequently licensed to Alfasigma S.p.A. in February 2021; protocol and related statistical analysis plan 
    for the confirmatory phase III trial filed with the U.S. FDA for final comment and Chinese rights licensed to China 
    Medical System Holdings Ltd. 
  . Cosmo's associate Cassiopea S.p.A. received FDA approval for Winlevi(R) (clascoterone cream 1%) for the treatment 
    of acne. 
  . Italian Agenzia del Farmaco (AIFA) granted Marketing Authorisation for Stadmycin(TM) (Rifamycin SV MMX(R)), 
    licensed to E.G. S.p.A. (part of the STADA Group), for the treatment of Travellers' Diarrhoea. 
  . Japan's Pharmaceuticals and Medical Devices Agency approved Eleview(R). 
  . Licence agreement with Dr. Falk Pharma Gmbh ('Dr. Falk') amended to include Rifamycin SV MMX(R) in the new 600mg 
    formulation. 
  . Successful outcome of phase II proof of concept (POC) clinical trial of Rifamycin SV MMX(R) 600mg in Irritable 
    Bowel Syndrome with Diarrhoea (IBS-D) announced in January 2021. 
Key figures 
EUR?/000                                      2020       2019 
Income statement 
Revenues                                      60,949     62,495 
Cost of sales                                 (27,617)   (25,053) 
Gross profit                                  33,332     37,442 
Other income                                  5,848      753 
R&D costs                                     (13,597)   (15,160) 
SG&A costs                                    (18,678)   (35,342) 
Net operating expenses                        (26,427)   (49,749) 
Operating profit/(loss)                       6,905      (12,307) 
Net financial expense                         (8,895)    (3,933) 
Share of result of associates                 (4,941)    (5,064) 
Loss before taxes                             (6,931)    (21,304) 
Loss after taxes for the period               (7,901)    (24,494) 
 
 
Statement of financial position               2020       2019 
Non-current assets                            343,293    282,795 
Cash and cash equivalents                     185,937    110,387 
Other current assets                          66,931     191,978 
Liabilities                                   196,036    191,427 
Equity attributable to owners of the Company  400,125    393,733 
Equity ratio (%)                              67.1%      67.3% 
 
Shares 
 
Weighted average number of shares             14,471,064 14,633,299 
Earnings per share (in EUR)                   (0.546)    (1.669) Alessandro Della Chà, Chief Executive Officer, said: '2020 has been a year full of positive events for Cosmo. Methylene Blue MMX(R) was approved in Europe, BYFAVO(TM) was approved by the FDA, Cassiopea, our associate, received FDA approval for Winlevi(R). We continued to execute our equity for product strategy, returned to operating profit and delivered a positive cash flow from operating activities. We have a very strong balance sheet, we are replenishing our development pipeline and we are confident that GI Genius(TM) will eventually be approved by the FDA. We therefore look to the future with optimism'. 2021 Financial Outlook

Cosmo provided 2021 full year guidance, assuming approval of GI Genius(TM) by the FDA, of: . Full year revenues in the range of EUR60 - EUR64 million . Total expenses in the range of EUR57 - EUR59 million (of which ESOP EUR5.9 million and Depreciation & Amortisation EUR6.2

million) . Operating profit in the range of EUR3 - EUR5 million The Full-Year Report 2020 with further information was published today on 26 March 2020, 07:00 am CET, and is available for download at: http://www.cosmopharmaceuticals.com/investor-relations/financial-reports Full-Year 2020 results conference call at 02:00 pm CET on 26 March 2021 Alessandro Della Chà, CEO and Niall Donnelly, CFO will present the 2020 results and discuss the outlook for 2021. The conference call will be held in English. The dial-in numbers are: 


Switzerland/Continental Europe:  +41 (0) 58 310 50 00 
UK:                              +44 (0) 207 107 06 13 
USA:                             +1 (1) 613 570 56 13

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(R) to Red Hill Biopharma Ltd. for the US and has licensed Relafalk(R) to Dr. Falk Gmbh for the EU and other countries. For additional information on Cosmo and its products please visit the Company's website: www.cosmopharma.com 


Calendar 
Annual General Meeting, Amsterdam  May 28, 2021 
Half-Year 2021 Report              July 30, 2021

Contact Niall Donnelly, CFO & Head of Investor Relations Cosmo Pharmaceuticals N.V. Tel: +353 1 817 03 70 ndonnelly@cosmopharma.com

Disclaimer Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Cosmo undertakes no obligation to publicly update or revise any forward-looking statements.

This communication is not an offer of securities of any issuer. Securities may not be offered or sold in the United States absent registration or an exemption from the registration requirement of the US Securities Act of 1933.

This press release constitutes neither an offer to sell nor a solicitation to buy securities and it does not constitute a prospectus within the meaning of article 652a and/or 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange or any similar document. The offer will be made solely by means of, and on the basis of, a securities prospectus to be published. An investment decision regarding the securities to be publicly offered should only be made on the basis of the securities prospectus. This press release is made to and directed only at (i) persons outside the United Kingdom, (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order'), and (iii) high net worth individuals, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order. Any person who is not a relevant person should not act or rely on this press release or any of its contents. This press release does not constitute an "offer of securities to the public" within the meaning of Directive 2003/71/ EC of the European Union (the "Prospectus Directive") of the securities referred to in it (the "Securities") in any member state of the European Economic Area (the "EEA"). Any offers of the Securities to persons in the EEA will be made pursuant to an exemption under the Prospectus Directive, as implemented in member states of the EEA, from the requirement to produce a prospectus for offers of the Securities.

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