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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) 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.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported financial results for Q1 2022, with net revenues of $11.2 million, a 6% increase from the prior year. Adjusted earnings were $0.5 million or $0.03 per share. The company had total assets of $96.7 million and total liabilities of $55.9 million, resulting in shareholders' equity of $41.0 million. Cumberland acquired the oncology-supportive drug Sancuso and formed a new sales division. Additionally, partnerships were announced for Vibativ in the Middle East and Puerto Rico, expanding market reach.
Cumberland Pharmaceuticals Inc. (CPIX) announced a national co-promotion agreement with Verity Pharmaceuticals to promote Sancuso, the first FDA-approved patch for preventing chemotherapy-induced nausea and vomiting (CINV). Sancuso releases granisetron through the skin, effective for up to five days when applied before chemotherapy. Verity will leverage its oncology sales organization to enhance Sancuso's market reach following Cumberland's earlier acquisition of its U.S. rights. This partnership aims to expand patient access to Sancuso through shared marketing and sales efforts.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will release its first quarter 2022 financial results and an update on May 10, 2022, after market close. A conference call is scheduled for 4:30 p.m. ET that day for discussion on the results. Interested parties can join via phone or through the company’s website. The company specializes in high-quality prescription products for hospital acute care, gastroenterology, and rheumatology, with a strong portfolio of FDA-approved brands and ongoing clinical programs for ifetroban in various conditions.
Cumberland Pharmaceuticals has launched Vibativ (telavancin) in the Middle East, partnering with Tabuk Pharmaceutical Manufacturing Co. This collaboration grants Tabuk exclusive rights to register and promote Vibativ in Saudi Arabia and Jordan. Vibativ is a once-daily antibiotic indicated for multidrug-resistant infections, particularly effective against MRSA and pneumonia. The partnership aims to enhance Tabuk's anti-infective portfolio and improve patient access to this critical treatment.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported its full-year 2021 financial results, with net revenues reaching $36 million and cash flow from operations of $6 million. The company acquired Sancuso®, a drug for preventing chemotherapy-induced nausea and vomiting, enhancing its product portfolio. Total assets stood at $84 million, with total liabilities of $42 million. Adjusted earnings for 2021 were $(1.2 million), or $(0.08) per share, indicating improved performance compared to a net loss of $(5.6 million) in the previous year.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will release its annual 2021 financial results and company update after the market closes on March 8, 2022. A conference call to discuss these results will take place that same day at 4:30 p.m. Eastern Time, accessible by phone and via a live webcast on the company's website. Cumberland focuses on delivering high-quality prescription brands for acute care, gastroenterology, and rheumatology, with a portfolio that includes several FDA-approved products such as Acetadote and Caldolor.
Cumberland Pharmaceuticals (NASDAQ: CPIX) has acquired SANCUSO® (granisetron transdermal patch) from Kyowa Kirin for $13.5 million, with additional milestone payments and royalties up to 10% on U.S. net sales. SANCUSO is the only FDA-approved patch for preventing chemotherapy-induced nausea and vomiting, with U.S. sales exceeding $14 million in 2020. This acquisition allows Cumberland to enhance its oncology portfolio, addressing the needs of the approximately 500,000 Americans undergoing chemotherapy each year.
Cumberland Pharmaceuticals has received FDA approval for expanded labeling of Caldolor, an intravenous ibuprofen formulation, allowing its use in pre-operative administration. This approval aims to reduce post-surgery pain significantly for patients waking up from procedures. The labeling includes details on indications, appropriate patient populations, and clinical study results. A recent study involving 185 patients showed significant pain reduction with Caldolor compared to a placebo over 24 hours post-surgery. This development aligns with the ongoing efforts to manage surgical pain and decrease opioid reliance.
Cumberland Pharmaceuticals (NASDAQ: CPIX) reported a net revenue of $8.1 million for Q3 2021, totaling $27.7 million for the first nine months, reflecting a 1.8% increase year-over-year. The company holds total assets of $87.6 million and $25.8 million in cash, with total liabilities of $41 million. The launch of RediTrex for rheumatoid arthritis and psoriasis was implemented during Q3 2021. Despite the pandemic challenges, Cumberland remains focused on improving patient care and has additional clinical programs for its ifetroban candidate.
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