Company says it remains well-capitalized to advance its late-stage development pipeline
Cumberland expects to fund long-term product development and pursue additional strategic opportunities
Result drivers
Asset sale impact - Q2 results reflect completion of $100 mln sale of branded business to Apotex, with revenues from continuing operations declining and company shifting focus to drug development
Pipeline investment - Loss from continuing operations driven by ongoing investment in late-stage clinical programs and general expenses
Analyst coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the pharmaceuticals peer group is "buy."
Quarterly results
US biopharma firm's Q2 revenue from continuing operations fell after Apotex transaction reclassified branded business as discontinued operations
Adjusted loss per share for Q2 was $0.20
Company paid special $1.50 per share cash dividend post-transaction
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