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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 (NASDAQ: CPIX) has launched its RediTrex (methotrexate) line of pre-filled syringes, designed for treating active rheumatoid arthritis, juvenile idiopathic arthritis, and severe psoriatic arthritis. RediTrex is FDA-approved and offers advantages such as easy handling, accurate dosing, and reduced discomfort. It is more effective and less costly than oral methotrexate, potentially delaying the need for expensive biologics. This injectable option is particularly beneficial for patients with dexterity issues, addressing the challenges of existing administration methods.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported second quarter 2021 net revenues of $9.1 million, with total revenues for the first half reaching $19.6 million, a 9.3% increase from 2020. The company achieved a net income of $1.4 million year-to-date, rebounding from a loss of $2 million in the previous year. Despite a slight decline from Q2 2020, total operating expenses decreased to $10.5 million. Cumberland's financial health includes $89 million in total assets and $48 million in shareholders' equity. The company is committed to improving patient care through its diverse product portfolio.
Cumberland Pharmaceuticals (CPIX) will release its second quarter 2021 financial results on August 10, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results. The company specializes in branded prescription products for hospital acute care, gastroenterology, and rheumatoid arthritis. Its FDA-approved portfolio includes Acetadote and Caldolor, among others. Cumberland is also advancing Phase II clinical programs in various therapeutic areas.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) released its 2020 Sustainability Report, highlighting significant achievements in environmental, social, and governance (ESG) matters. The company safely delivered 2.5 million patient doses, managed over 4,000 pounds of expired products, and reported no product recalls or FDA safety issues. The report emphasizes Cumberland's commitment to sustainability, with initiatives like drug serialization to combat counterfeiting. The workforce comprises 46% women and 18% minorities, showcasing its focus on diversity and employee development.
Cumberland Pharmaceuticals (NASDAQ: CPIX) released case reports detailing the effectiveness of Vibativ (telavancin) in treating secondary bacterial infections in COVID-19 patients, especially those with pre-existing health conditions such as obesity, diabetes, and heart disease. The reports include five instances where Vibativ effectively treated hospital-acquired and ventilator-associated bacterial pneumonia, resulting from serious staph infections. The timely use of Vibativ has shown to improve patient outcomes significantly, showcasing its potential in combating these severe infections.
Cumberland Pharmaceuticals (NASDAQ: CPIX) has announced the promotion of John Hamm to Director of Finance & Accounting and Chief Financial Officer. With over 25 years of experience, including 20 in health care, Hamm will oversee finance, accounting, and corporate development activities. Previously the Director of Corporate Development, Hamm has been integral to the company since 2019. CEO A.J. Kazimi expressed confidence in Hamm's leadership to enhance patient care through quality medicines. Cumberland develops and commercializes approved pharmaceutical brands in acute care, gastroenterology, and rheumatology.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) reported a 26.5% increase in net revenues to $10.5 million for Q1 2021. The company also generated an additional $500,000 from divested product rights. Key products contributed significantly, with Vibativ® earning $5.1 million. Operating expenses rose to $10.9 million, influenced by higher costs from Vibativ sales. Net income was $0.2 million, representing a turnaround from a loss of $1.1 million the previous year. The financial position included $93 million in total assets and $47 million in shareholders' equity.
Cumberland Pharmaceuticals (NASDAQ: CPIX) will release its Q1 2021 financial results and company update on May 11, 2021, post-market. A conference call will follow at 4:30 p.m. ET. The company focuses on high-quality prescription brands for hospital acute care and gastroenterology. Its FDA-approved product portfolio includes Acetadote, Caldolor, Kristalose, Omeclamox-Pak, Vaprisol, Vibativ, and RediTrex. The firm is also advancing Phase II clinical programs for ifetroban targeting various diseases.
Cumberland Pharmaceuticals Inc. (CPIX) reported a strong performance for Q4 and full-year 2020, highlighting net revenues of $10.3 million in Q4, a 10% year-over-year increase, and totals of $37.4 million for the year, up 9% from 2019. The company also recognized $3.2 million in revenue from divested product rights. Total assets stood at $96.5 million, with cash and investments of $24.8 million. The firm launched new formulations for its Caldolor product, helped hospitals during the pandemic, and plans to expand its RediTrex line in 2021.
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) will announce its fourth quarter and annual 2020 financial results after the market closes on March 9, 2021. A conference call will take place the same day at 4:30 p.m. Eastern Time to discuss these results. The company focuses on specialty pharmaceuticals, offering several FDA-approved products that target acute care, gastroenterology, and oncology markets. Additionally, Cumberland has ongoing Phase II clinical programs for its ifetroban product candidates aimed at treating conditions like Duchenne Muscular Dystrophy.
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