NASHVILLE, Tenn. , Aug. 6, 2024 /PRNewswire/ -- Cumberland Pharmaceuticals Inc.
(Nasdaq: CPIX ), a specialty pharmaceutical company, today announced significantly improved financial results and a favorable overall company performance for the second quarter of 2024. Highlights include: $9.9 million in net revenue during the second quarter of 2024, an increase of 16% sequentially from the first quarter of 2024.
Adjusted earnings of $0.2 million , which represents a $0.8 million improvement over the prior period in 2024.
$78.5 million in assets, $52.5 million in liabilities and $26.
3 million of shareholders' equity. "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," said Cumberland's CEO, A.J.
Kazimi . "Given the number of ongoing positive developments, we believe we're still on track to post significant revenue growth and positive cashflow from operations during 2024." RECENT DEVELOPMENTS INCLUDE: Kristalose ® Medicaid Coverage & Gastroenterology Guidelines Recommendation Wisconsin has added Kristalose, Cumberland's prescription-strength laxative, to its Medicaid formulary, and Cumberland is implementing a special initiative to announce this development in that market.
Cumberland also has Medicaid coverage for the brand in New York state and Texas , two of the largest states for the product. Additionally, the American Gastroenterological Association's ("AGA") guidelines includ.