In the second quarter of 2023, we advanced our business, as the operating environment continued to slowly improve from the post-pandemic challenges. Our team has been working diligently to maximize the potential of our commercial brands, progress our pipeline and pursue select acquisitions. 

We’re pleased to share several notable developments from an overall successful quarter: 

• • Our revenue grew 18% over the first quarter of this year to $10.9 million and we generated positive earnings for the second consecutive quarter. Additionally, we have delivered $1.1 million in net income for the first half of the year. 

• • We expanded our oncology sales division to deliver our newest brand – Sancuso® – to cancer patients undergoing chemotherapy treatments. 

• • Following recent FDA approval, we announced the publication of positive results from a clinical study monitoring the safety and pharmacokinetics of our Caldolor® products in infants 1 to 6 months. 

The results of the study were published in the journal Pediatric Drugs and support the recent FDA approval of Caldolor in infants 3 to 6 months of age. Caldolor is the only non-opioid injectable product approved to treat pain and fever in infants. 

• • We announced that the FDA cleared the Investigational New Drug Application for a Phase II study in patients with Idiopathic Pulmonary Fibrosis (IPF). It’s the newest clinical program in the pipeline for ifetroban – a potent and selective thromboxane receptor antagonist. We will be launching our FIGHTING FIBROSIS trial – designed to enroll 128 patients in over 20 medical centers across the country. 

Thank you to our Cumberland team for their continued support and hard work during this quarter and first half of the year. We are pleased with the developments in the second quarter and look forward to sharing more updates throughout the remainder of the year.