Record Date is July 10, 2026 & Payment Date is July 31,2026
Corporate and Insider Share Purchase Initiatives to Continue
NASHVILLE, Tenn., July 13, 2026 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX), an innovation-focused biopharmaceutical company developing new products for rare diseases, announced today that its Board of Directors has authorized and declared a special cash dividend of $1.50 per share of the Company's common stock. The dividend will be payable on July 31, 2026, to the shareholders of record at the close of business on July 10, 2026.
Cumberland previously announced the closing of a Strategic Transaction with Apotex Health, resulting in the integration of the U.S.-branded businesses. Cumberland received $100 million in cash at closing for its line of FDA-approved products. In addition, Cumberland expects to receive up to $11 million in additional payments associated with product inventory and transitional support services.
Following the closing of the Apotex transaction, an analysis by the company's tax advisors, along with refined financial projections, indicated greater net cash from the transaction than originally projected. Therefore, Cumberland's Board of Directors met to assess the Company's future cash needs and evaluate possible options for returning capital to shareholders.
In addition to the special dividend, the Board authorized an open-market share repurchase program of up to $5 million in Cumberland shares over time. Several Board members will also be establishing new share purchase plans to increase their holdings in the Company.
"In keeping with our ongoing commitment to deliver value to our shareholders, we are issuing a special dividend following the strategic transaction, which treats all shareholders equally," said A,J. Kazimi, Cumberland's CEO. "After the payout of $1.50 per share, we believe the Company will still have significant liquidity and financial flexibility to fund our long-term product development efforts, with additional reserves available to address any new opportunities".
Cumberland has retained its robust portfolio of innovative product candidates and its majority ownership position in Cumberland Emerging Technologies Inc. Following the closing, Cumberland will focus its resources on developing ifetroban, a potent thromboxane antagonist currently being studied across clinical programs targeting serious rare and progressive diseases:
-- Duchenne Muscular Dystrophy Cardiomyopathy: Cumberland announced
breakthrough results in a Phase II clinical study of ifetroban in
patients with cardiomyopathy associated with this rare, fatal genetic
neuromuscular disease. Interactions with the FDA have been underway
regarding study results and requirements for approval. The program has
received FDA Orphan Drug, Rare Pediatric Disease and Fast Track
designations.
-- Systemic Sclerosis: Cumberland has conducted a Phase II clinical study
evaluating the safety of ifetroban in patients with this debilitating
autoimmune disorder. Evaluation of the study data is underway with
top-line results anticipated as the next milestone.
-- Idiopathic Pulmonary Fibrosis: A Phase II study evaluating ifetroban in
patients with the most common form of progressive fibrosing interstitial
lung disease is actively enrolling at medical centers across the U.S.
Favorable interim safety findings have been announced, and the next
milestone is the announcement of the efficacy results.
-- Cancer Metastasis: Cumberland, in collaboration with Vanderbilt Health,
recently announced the results of a Pilot Study of ifetroban in patients
with high-risk solid tumors. The findings suggest the potential to block
cancer metastasis, as a favorable trend was identified with fewer deaths
due to metastatic disease in those receiving ifetroban rather than a
placebo. The Phase 2 clinical trial also found ifetroban to be safe and
well tolerated in the oncology patients, supporting further development
of the drug to prevent cancer metastasis.
About Cumberland Pharmaceuticals
Cumberland Pharmaceuticals Inc. is the largest biopharmaceutical company founded and headquartered in Tennessee and is focused on developing innovative products that improve the quality of patient care. The company is advancing a clinical pipeline of late-stage product candidates across multiple therapeutic areas with significant unmet medical needs.
Cumberland's Phase 2 clinical programs are evaluating ifetroban in patients with Duchenne Muscular Dystrophy, Systemic Sclerosis, Idiopathic Pulmonary Fibrosis and Cancer Metastasis.
For more information, please visit www.cumberlandpharma.com.
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SOURCE Cumberland Pharmaceuticals Inc.
(END) Dow Jones Newswires
July 13, 2026 10:47 ET
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