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Cipher Pharmaceuticals Announces Preliminary Q2 2016 Results Highlighted by 30+% Revenue Growth and $3.0+million Cash from Operations
Cipher Pharmaceuticals Announces Preliminary Q2 2016 Results Highlighted by 30+% Revenue G...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCipher Pharmaceuticals Announces Preliminary Q2 2016 Results Highlighted by 30+% Revenue Growth and $3.0+million Cash from Operations\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCipher Pharmaceuticals Announces Preliminary Q2 2016 Results Highlighted by 30+% Revenue Growth and $3.0+million Cash from Operations\nCanada NewsWire\nMISSISSAUGA, ON, Aug. 3, 2016\n\n\n\nMISSISSAUGA, ON, Aug. 3, 2016 /CNW/ - Cipher Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) (\"Cipher\" or \"the Company\") today announced preliminary estimates of its financial results for the three months ended June 30, 2016. The complete financial statements for the Company's second quarter will be released on August 10, 2016, followed by a conference call with management. These preliminary financial results are subject to completion of the Company's customary quarterly closing and review procedures. Unless otherwise noted, all figures are in U.S. currency. \n\nPreliminary Financial Highlights for Q2 2016 \n\nThe Company expects the following results for its second quarter ended June 30, 2016: \n\n\nTotal revenue of approximately $11.7 million, an increase of more than 30% from $8.8 million in Q2 2015.\n\nLicensing revenue of approximately $7.4 million, compared with $6.3 million in Q2 2015. \nTotal product revenue of approximately $4.3 million, compared with $2.5* million in Q2 2015. \nU.S. product revenue of approximately $3.2 million, compared with $1.8* million in Q2 2015. \nAdjusted EBITDA1 is estimated to be approximately $2.7 million, compared with $1.6 million in Q2 2015, an increase of more than 70%. \nNet loss of approximately $3.4 million, or $0.13 per basic share, which includes a $1.8 million write-off of debt issuance costs. \nNet cash generated from operating activities of approximately $3.2 million. \nApproximately $30.8 million in cash and cash equivalents at quarter end, up from $27.2 million at year end. \n\n\"It was a solid second quarter for the Company, highlighted by more than 30% growth in revenue and a strong improvement in Adjusted EBITDA,\" said Shawn Patrick O'Brien...