Submitted by admin-cpharma on Wed, 08/14/2024 - 17:24

We were pleased to report that Cumberland delivered a strong financial performance for the second quarter. Our line of FDA-approved brands delivered just under $10 million in net revenues, which represented 16% in sequential growth from the first quarter of the year.

During the quarter we remained dedicated to advancing our mission of working together to provide unique products that improve the quality of patient care, and we shared a number of exciting company updates, including:

  • In June, a study published in Antimicrobial Agents and Chemotherapy found that Vibativ® – our potent antibiotic – could be an effective treatment for anthrax inhalation, the most dangerous form of those infections. Researchers highlighted the product’s potential as an alternative therapy if anthrax bacteria develop resistance to existing antibiotics.

 

  • We worked to expand the use of Kristalose®, our prescription-strength laxative, in the growing number of states where the product has favorable Medicaid coverage. We are pleased to share that, in addition to New York and Texas, Kristalose is now covered on Wisconsin Medicaid plans.

 

  • We also recently launched a campaign featuring the American Gastroenterological Association’s guidelines that include Kristalose as a first-line treatment option for opioid-induced constipation.

 

  • After successfully transferring the manufacture of Sancuso® – our oncology support medication – to a new facility that received FDA approval in 2023, we recently introduced our newly Cumberland-packaged product made there.

 

  • We currently have three Phase II studies underway evaluating our ifetroban product candidate in patients with unmet medical needs. We’ve now applied for special designations for our Duchenne Muscular Dystrophy product candidate: 

1) Orphan Drug Designation, which is granted to products that show promise in the treatment, prevention or diagnosis of rare – or orphan – diseases.  Such designation can result in a number of benefits associated with the FDA review process, including exclusivity after product approval.

2) Rare Pediatric Disease Designation, which is given to products intended to prevent or treat serious or life-threatening diseases that primarily affect children. Upon FDA approval this designation may result in a valuable priority review voucher from the FDA to accelerate approval of a different product.

We are very optimistic about our company’s future, and we look forward to building on our second quarter success throughout the remainder of the year.