Kenneth Krogulski, a director at Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX), has made a series of stock purchases throughout November. According to a recent SEC filing, Krogulski acquired shares in the company amounting to a total of $9,347. The transactions were conducted under a prearranged Rule 10b5-1 trading plan. The purchases come as the stock trades at just 0.67 times book value, with InvestingPro analysis suggesting the shares are currently undervalued.
The purchases were made at prices ranging from $1.07 to $1.32 per share. These acquisitions add to Krogulski's growing stake in the pharmaceutical company, with shares now totaling 271,627 following the transactions. The purchases reflect a continued interest in Cumberland Pharmaceuticals, which specializes in pharmaceutical preparations and has seen its stock decline 34% year-to-date. InvestingPro data shows management has been actively buying back shares, with several more key insights available to subscribers.
All transactions were conducted as direct acquisitions, further solidifying Krogulski's direct ownership in the company. For comprehensive analysis of Cumberland Pharmaceuticals and its $16.7 million market cap, access the detailed Pro Research Report available exclusively on InvestingPro.
In other recent news, Cumberland Pharmaceuticals reported a steady growth in its Q3 revenues, reaching $9.1 million. This financial performance was largely driven by the robust sales of its FDA-approved brands, Kristalose and Sancuso. However, the company faced challenges due to Hurricane Helene, which negatively impacted the performance of Vibativ. Despite this setback, Cumberland Pharmaceuticals remains positive about its growth prospects and pipeline developments.
Key financial details include a total asset value of $77 million, with $17.5 million in cash and total liabilities amounting to $52 million. The company also repurchased 72,000 shares in Q3. Despite the exclusion of Caldolor from non-opioid Medicare reimbursement, Cumberland Pharmaceuticals is advocating for its inclusion and has launched a new sampling program for Sancuso.
In terms of future developments, the company is actively seeking acquisitions to enhance its portfolio and expects strong shipments in the fourth quarter. Cumberland Pharmaceuticals is also optimistic about its pipeline developments, including a new delirium treatment from the MENDING trial and the ifetroban product candidate. However, it's worth noting that the MENDING trial did not achieve statistical significance, despite showing safety and clinical relevance.
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