On Tuesday Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX) stock fell -1.9% and closed at 5.67. The stock opened the session at $5.8 and touched its highest price point at $5.8. Its recent trading capacity is 6249 shares versus to its average trading volume of 14220 shares. The company’s stock’s lowest price point for the session stood at $5.67. CPIX traded as low as $ 4.7 in the past 52 weeks, and shares hit its peak level to $7.
On Nov. 12, 2019, Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX) a specialty pharmaceutical company focused on hospital acute care and gastroenterology disclosed third quarter 2019 financial results with net revenues of $10.4 million, up 22% over the prior year quarter. Year-to-date net revenues were $33.9 million, up 24% from the prior year period. The Adjusted Earnings year-to-date were $3.5 million or $0.22 per diluted share. As of September 30, 2019, Cumberland had over $100 million in total assets, including just under $30 million in cash and marketable securities.
- Announced a U.S. Food and Drug Administration (FDA) Orphan Drug Grant to advance a new Phase II clinical program for patients with Duchenne Muscular Dystrophy (DMD).
- Provided the FDA with additional data in support of approval submission for a new line of methotrexate products designed for the treatment of patients with arthritis and psoriasis.
- Pursued an update to the Caldolor label that includes new geriatric, shortened infusion, pediatric, and safety data.
- Continued a company-wide strategic review of products, partners, and organization.
There has been an abundance of activity here at Cumberland during the third quarter, said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals. We had a series of positive developments that helped us continue to make progress towards our goal of building a company that offers long-term, sustainable growth.
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