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Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) is a specialty pharmaceutical company dedicated to the acquisition, development, and commercialization of branded prescription pharmaceutical products. With a focus on high-quality products, Cumberland targets underserved physician segments in hospital acute care, gastroenterology, rheumatology, and oncology.
The company’s diverse portfolio includes FDA-approved brands like Acetadote, Caldolor, Kristalose, Omeclamox, Sancuso, Vaprisol, and Vibativ. These products are promoted through hospital, field, and oncology sales divisions in the United States, and a network of international partners ensures they reach patients globally. Cumberland's revenue largely comes from the sales of these pharmaceutical brands.
Recent achievements include the publication of a clinical study in Antimicrobial Agents and Chemotherapy highlighting the safety and pharmacokinetics of Vibativ in pediatric patients aged 2 to 17. Another significant milestone is the FDA's expanded labeling approval for Caldolor to include use in infants, making it the first non-opioid injection approved for treating pain and fever in infants aged 3 to 6 months.
Financially, Cumberland reported combined revenues of $10.1 million for the third quarter of 2023, bringing the year-to-date total to $30.2 million. Despite a third quarter net loss of $1.0 million, the company posted a year-to-date net income of $15,086, with adjusted earnings of $0.29 per share. The company ended the third quarter with $88 million in total assets, $52 million in liabilities, and $36 million in shareholders' equity.
In addition to product development, Cumberland continues to advance its pipeline with Phase II clinical programs evaluating ifetroban for conditions such as Duchenne Muscular Dystrophy-associated cardiomyopathy, Systemic Sclerosis, and Idiopathic Pulmonary Fibrosis. The promising results from these studies underscore the company's commitment to addressing unmet medical needs.
Cumberland Pharmaceuticals remains a pivotal player in the biopharmaceutical industry, with a mission to improve patient care through innovative products and dedicated clinical research.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported a 17% increase in net revenues for 2022, totaling $42 million, and achieved $8 million in cash flow. The company acquired Sancuso®, enhancing its oncology product lineup. In Q4 2022, net revenues reached $9.1 million, with Sancuso® contributing $2.4 million. Operating expenses were $47.7 million, up from $43.7 million in 2021. Cumberland moved its headquarters to Nashville, supporting growth and collaboration with Vanderbilt University. The company continues ongoing clinical development for ifetroban in severe diseases, while partnerships for international product launches signify growth potential.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will release its annual financial results for 2022 on March 7, 2023, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern Time on the same day. Interested parties can register for the call through the provided link. Cumberland focuses on delivering high-quality prescription brands across various therapeutic areas, including hospital acute care and oncology. The company's portfolio includes several FDA-approved products, such as Acetadote® and Vibativ®. Additionally, Cumberland is advancing Phase II clinical programs assessing its ifetroban candidate for several diseases.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported a strong third quarter in 2022, with revenues of $11.4 million, reflecting a 41% increase from the previous year. Year-to-date revenues reached $33 million, a 19% increase compared to 2021. The company attributed growth to initial sales from its newly acquired product, Sancuso. Operating expenses rose to $11.7 million, resulting in a net loss of $0.4 million, improved from last year's loss of $1.1 million. Cash flow from operations increased by 28% to $5.6 million. Total assets stood at $91 million.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will announce its third quarter 2022 financial results after market close on Nov. 8, 2022. The company aims to provide updates during a conference call at 4:30 p.m. Eastern Time the same day. Cumberland, based in Nashville, focuses on developing prescription brands in acute care and other segments. Its portfolio includes FDA-approved drugs such as Acetadote and Caldolor, among others. The company also has ongoing Phase II clinical programs for its ifetroban candidate addressing various serious health conditions.
Cumberland Pharmaceuticals (NASDAQ: CPIX) has relocated its headquarters to the Broadwest campus in Nashville, Tennessee. This move accommodates recent growth, increasing staff to over 100 employees. The Broadwest complex features a 21-story office tower and various amenities that enhance the company's operational capabilities. CEO A.J. Kazimi highlighted Nashville's role as a healthcare hub, which supports the company's FDA-approved brands and pipeline for future medicines. The location near Vanderbilt University Medical Center will foster further collaborations.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported a 14% revenue increase to $10.3 million for Q2 2022, with year-to-date gross revenue rising 10% to $21.5 million compared to 2021. Cash flow from operations reached $2.2 million, and the company holds total assets of $93 million against liabilities of $53 million. Key highlights include the acquisition of Sancuso® and its national co-promotion with Verity Pharmaceuticals. Additionally, Cumberland is advancing multiple Phase II clinical studies for its product candidate ifetroban.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) has released its 2021 Sustainability Report, showcasing significant achievements in environmental, social, and governance initiatives. The company delivered 2.43 million patient doses and disposed of 6,200 pounds of expired goods without any product recalls or FDA-related issues. Cumberland invested $4,000 per employee in training, while maintaining a workforce composed of 44% women and 15% minorities. Additionally, the company supported patients by covering up to 60% of prescription costs for gastrointestinal products.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will announce its second quarter 2022 financial results on August 9, 2022, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss the results. The company focuses on developing and commercializing prescription brands for hospital acute care, gastroenterology, rheumatology, and oncology. Its FDA-approved products include Acetadote, Caldolor, and Kristalose. Cumberland is also advancing Phase II clinical programs for its ifetroban candidate, targeting conditions like cardiomyopathy and systemic sclerosis.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) announced the appointment of Martin Brown Jr. to its Board of Directors as of July 19, 2022. Brown, with nearly 30 years of legal experience, previously served on the Board of Brown-Forman Corporation and currently practices at Adams and Reese LLP. His background in health care and corporate law is expected to enhance Cumberland's mission to address unmet medical needs. Brown holds degrees from Yale University and Vanderbilt University.
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