Cumberland Pharmaceuticals Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Cumberland Pharmaceuticals Inc. has filed its annual report detailing its 2023 fiscal year performance and financial standing.</b>

AI Summary

CUMBERLAND PHARMACEUTICALS INC (CPIX) filed a Annual Report (10-K) with the SEC on March 13, 2024. Cumberland Pharmaceuticals Inc. filed its 2023 Form 10-K on March 13, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 2525 West End Avenue, Suite 950, Nashville, TN 37203. Cumberland Pharmaceuticals Inc. operates in the Pharmaceutical Preparations industry (SIC code 2834). The company is classified as a Non-accelerated Filer.

Why It Matters

For investors and stakeholders tracking CUMBERLAND PHARMACEUTICALS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Cumberland Pharmaceuticals' financial health, operational activities, and strategic direction for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's performance, identify potential risks, and make informed investment decisions regarding CPIX.

Risk Assessment

Risk Level: low — CUMBERLAND PHARMACEUTICALS INC shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news or events, indicating a stable, ongoing operational status.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Cumberland Pharmaceuticals' performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-13 — Filing Date (Filed as of date)
• 2023-01-01 — Fiscal Year Start (Reporting period for 2023)
• 2022-01-01 — Prior Fiscal Year Start (Reporting period for 2022)

Key Players & Entities

• CUMBERLAND PHARMACEUTICALS INC (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240313 (date) — Filed as of date
• 2525 WEST END AVENUE, SUITE 950, NASHVILLE, TN 37203 (address) — Business address
• 615-255-0068 (phone) — Business phone
• 2834 (industry_code) — Standard Industrial Classification
• CPIX (ticker) — Ticker symbol
• Non-accelerated Filer (status) — Filer classification

FAQ

Industry Context

Cumberland Pharmaceuticals Inc. operates within the pharmaceutical preparations sector, focusing on the development, manufacturing, and marketing of pharmaceutical products.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file annual reports (Form 10-K) detailing financial performance and business operations.

What Investors Should Do

1. Analyze the financial statements (income statement, balance sheet, cash flow) for the fiscal year ended December 31, 2023.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers and trends.
3. Examine the Risk Factors section to understand potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 2023 Form 10-K.
• 2024-03-13: Filing Date — Date the 2023 Form 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K for the fiscal year 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.00 — nge on which registered Common Stock, $0.00 par value per share CPIX Nasdaq Globa

Filing Documents

• cpix-20231231.htm (10-K) — 1724KB
• a2023q4exhibit411.htm (EX-4.11) — 28KB
• ex-1011ajkazimix202310k.htm (EX-10.11) — 39KB
• ex-1012jimhermanx202310k.htm (EX-10.12) — 39KB
• ex-1013toddanthonyx202310k.htm (EX-10.13) — 39KB
• ex-1014chrisbittermanx2023.htm (EX-10.14) — 39KB
• ex-1015johnhammx202310k.htm (EX-10.15) — 39KB
• a2023-10kxex231consentofcri.htm (EX-23.1) — 2KB
• a2023-xex232consentofforvi.htm (EX-23.2) — 2KB
• a2023-10kxexhibit311.htm (EX-31.1) — 12KB
• a2023-10kxexhibit312.htm (EX-31.2) — 12KB
• a2023-10kxexhibit321.htm (EX-32.1) — 6KB
• a2023-xex971compensationre.htm (EX-97.1) — 32KB
• cpix-20231231_g1.jpg (GRAPHIC) — 107KB
• 0001628280-24-010725.txt (&nbsp;) — 9348KB
• cpix-20231231.xsd (EX-101.SCH) — 73KB
• cpix-20231231_cal.xml (EX-101.CAL) — 89KB
• cpix-20231231_def.xml (EX-101.DEF) — 275KB
• cpix-20231231_lab.xml (EX-101.LAB) — 798KB
• cpix-20231231_pre.xml (EX-101.PRE) — 553KB
• cpix-20231231_htm.xml (XML) — 1106KB

: Risk Factors

Item 1A: Risk Factors 34

: Unresolved Staff Comments

Item 1B: Unresolved Staff Comments 56

Cybersecurity

Item 1C. Cybersecurity 56

: Properties

Item 2: Properties 57

: Legal Proceedings

Item 3: Legal Proceedings 57

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 57 PART II 57

: Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5: Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 57

: Reserved

Item 6: Reserved 59

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations 59

: Quantitative and Qualitative Disclosures About Market Risk

Item 7A: Quantitative and Qualitative Disclosures About Market Risk 70

: Financial Statements and Supplementary Data

Item 8: Financial Statements and Supplementary Data 71

: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 71

: Controls and Procedures

Item 9A: Controls and Procedures 71

: Other Information

Item 9B: Other Information 72

: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C: Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III 73 PART IV 74

: Exhibits and Financial Statement Schedules

Item 15: Exhibits and Financial Statement Schedules 74

: Form 10-K Summary

Item 16: Form 10-K Summary 78

SIGNATURES

SIGNATURES 79 PART I

Business

Item 1. Business. THE COMPANY Cumberland Pharmaceuticals Inc. ("Cumberland," the "Company," or as used in the context of "we," "us," or "our"), is a specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription pharmaceutical products. We are dedicated to providing innovative products that improve the quality of care for patients and address poorly met medical needs. Our primary target markets are hospital acute care, gastroenterology and oncology. These medical specialties are characterized by relatively concentrated prescriber bases that we believe can be served effectively by small, targeted sales forces. We promote our approved products through our hospital, field and oncology sales divisions in the United States while we continue to build a network of international partners to register and provide our medicines to patients in their countries. Our portfolio of brands approved for marketing by the U.S. Food and Drug Administration ("FDA") includes: Acetadote ( acetylcysteine ) injection, for the treatment of acetaminophen poisoning; Caldolor ( ibuprofen ) injection, for the treatment of pain and fever; Kristalose ( lactulose ) for oral solution, a prescription laxative, for the treatment of constipation; Omeclamox -Pak , ( omeprazole, clarithromycin, amoxicillin ) oral, for the treatment of Helicobacter pylori ( H. pylori ) infection and related duodenal ulcer disease; Sancuso ( granisetron) transdermal, for the prevention of nausea and vomiting in patients receiving certain types of chemotherapy treatment; Vaprisol ( conivaptan ) injection, to raise serum sodium levels in hospitalized patients with euvolemic and hypervolemic hyponatremia; and Vibativ ( telavancin ) injection, for the treatment of certain serious bacterial infections including hospital-acquired and ventilator-associated bacterial pneumonia, as well as complicated skin and skin structure infections. In addition to these commerci

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View this 10-K filing on SEC EDGAR