- Cipher Pharmaceuticals (CPH) reported a 4.1 increase in revenue for the first nine months of the 2021 fiscal year
- Third quarter results were generally lower than the same period last year
- Year-to-date results showed improvement despite lower third quarter results
- Looking forward, the company is aiming for several key milestones to continue this positive trajectory
- Cipher Pharmaceuticals is a specialty pharmaceutical company
- Shares in Cipher Pharmaceuticals Inc. (CPH) are down 12.11 per cent, trading at $2.25 per share
Cipher Pharmaceuticals (CPH) reported a 4.1 increase in revenue for the first nine months of the 2021 fiscal year.
The company has brought in $16.1 million in revenue so far this year, compared to $15.5 million in the first nine months of 2020.
Revenue was slightly lower in the third quarter, however, coming in at $4.5 million compared to $4.8 million in Q3 2020.
Adjusted EBITDA followed the same pattern, decreasing in the third quarter but up overall to $9.8 million for the year.
The company reported increased earnings per share (EPS) of $0.19 compared to $0.17 in 2020, while quarterly EPS fell to $0.03 from $0.06.
Craig Mull, interim CEO of Cipher, commented on the results.
“Our year-to-date results continue to trend positively,” he said. “We generated $8.1 million in cash from operating activities in the nine months ending September 30, 2021, ending the period with $15.6 million in cash, placing us in an excellent position as we continue to actively pursue profitable growth opportunities and maximize the income generated from our distribution agreements.”
Looking forward, the company is aiming for several key milestones to continue this positive trajectory:
- Realigning distribution to increase royalty income;
- Improving the profitability of our hospital business through a distribution agreement with Verity;
- Actively pursuing product and business acquisitions with a focus on high growth potential and near-term profitability.
Cipher Pharmaceuticals is a specialty pharmaceutical company with a robust and diversified portfolio of commercial and early to late-stage products.
The company acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process.
Shares in Cipher Pharmaceuticals Inc. (CPH) are down 12.11 per cent, trading at $2.25 per share as of 11:45 am ET.