Kenneth Krogulski, a director at Cumberland Pharmaceuticals Inc. (NASDAQ:CPIX), has recently increased his holdings in the company through a series of stock purchases. According to a recent SEC filing, Krogulski acquired a total of $8,209 worth of common stock over multiple transactions. The micro-cap pharmaceutical company, currently valued at $34.4 million, is trading slightly below its InvestingPro Fair Value estimate.
The transactions, which occurred between December 2 and December 20, 2024, involved the purchase of shares at prices ranging from $1.20 to $2.48 per share. These acquisitions were made under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stock to avoid potential conflicts of interest. After these transactions, Krogulski's total direct ownership stands at 276,343 shares. The stock has shown strong momentum, delivering a 58% return over the past six months and a 35% gain year-to-date.
These purchases reflect Krogulski's continued investment in Cumberland Pharmaceuticals, a company based in Nashville, Tennessee, specializing in pharmaceutical preparations. InvestingPro analysis reveals multiple positive signals, including management's aggressive share buybacks and strong recent performance. Subscribers can access additional insights and detailed financial metrics through the comprehensive Pro Research Report.
In other recent news, Cumberland Pharmaceuticals reported steady growth in its Q3 earnings, with net revenues reaching $9.1 million. This financial stability was largely driven by robust sales of FDA-approved brands Kristalose and Sancuso. However, the company faced setbacks due to Hurricane Helene, which impacted Vibativ's performance, and the exclusion of Caldolor from non-opioid Medicare reimbursement.
In spite of these challenges, Cumberland Pharmaceuticals continues to exhibit resilience. The company's total assets amounted to $77 million, with $17.5 million in cash and total liabilities of $52 million. Looking ahead, Cumberland Pharmaceuticals is optimistic about its pipeline developments including a new delirium treatment from the MENDING trial and the ifetroban product candidate.
The company is also actively seeking acquisitions to enhance its portfolio and expects strong shipments in the forthcoming quarter. As part of its growth strategy, Cumberland Pharmaceuticals has launched a new sampling program for Sancuso and repurchased 72,000 shares in Q3. These are just a few of the recent developments for the company.
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