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NASHVILLE—James Jones, a director at Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX), has made a series of stock purchases totaling $1,317, according to a recent SEC filing. The transactions, executed automatically under a pre-established trading plan, occurred between December 2 and December 20, 2024. According to InvestingPro data, this aligns with broader management share purchases, while the stock appears undervalued at its current $2.42 price level.
Jones acquired shares at prices ranging from $1.20 to $2.48 per share. Following these acquisitions, Jones holds a total of 40,146 shares in the company.
The purchases were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling stock to avoid potential insider trading violations. This plan was adopted by Jones on March 13, 2024.
Cumberland Pharmaceuticals, headquartered in Nashville, is involved in the development and commercialization of pharmaceutical products.
In other recent news, Cumberland Pharmaceuticals has reported steady growth in their third quarter of 2024, with net revenues reaching $9.1 million. This performance was largely driven by robust sales of FDA-approved brands, Kristalose and Sancuso, even amid challenges such as the impact of Hurricane Helene on Vibativ's performance and the exclusion of Caldolor from non-opioid Medicare reimbursement. The company's year-to-date revenues total $27 million, with their balance sheet showing $77 million in total assets, $17.5 million in cash, and total liabilities of $52 million.
In addition to these financial developments, Cumberland Pharmaceuticals has been working on promising pipeline developments, including a new delirium treatment from the MENDING trial and the ifetroban product candidate. Despite setbacks, the company remains optimistic about its growth prospects and pipeline developments. Cumberland Pharmaceuticals has also repurchased 72,000 shares in Q3 and is actively seeking acquisitions to enhance its portfolio.
These recent developments illustrate Cumberland Pharmaceuticals' resilience and commitment to growth, even in the face of challenges. The company's focus is clearly on leveraging its existing brands and exploring new markets and therapies, as evidenced by their ongoing initiatives and strategic decisions.
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