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CUMBERLAND PHARMACEUTICALS INC

CUMBERLAND PHARMACEUTICALS INC is an American pharmaceutical preparations company, incorporated in Tennessee.1 It is headquartered in Nashville, Tennessee.1 Its shares trade on Nasdaq under the symbol CPIX.1

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Last updated Oct 21, 2026.

Overview

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  • TickerCPIX on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersNashville, Tennessee1
  • Incorporated inTN2
  • Business address1600 West End Avenue, Suite 1300, Nashville,, Tn 372032
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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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 pharmaceuticals. We are dedicated to our mission of working together to provide unique products that improve the quality of patient care.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-6.3%Operating margin4
-6.4%Net margin4
17.6%Revenue growth, 20254
-11.4%Return on equity4
$4.8MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product - Sancuso brought in 24% of the revenue CUMBERLAND PHARMACEUTICALS INC broke down this way in fiscal 2025.

  1. Product - Sancuso$11.9M424%up 32% from 2024
  2. Product - Kristalose$10.5M422%down 31% from 2024
  3. Product - Vibativ$9.5M419%up 32% from 2024
  4. Product - Caldolor$4.7M410%down 6% from 2024
  5. Manufactured Product, Other$4.1M48%up 210% from 2024
  6. Product - Other$4.1M48%up 210% from 2024
  7. Product - Talicia$3.3M47%
  8. Product - Acetadote$508.2K41%up 174% from 2024
  9. Product - RediTrex$11.4K40%down 87% from 2024
Products and services by year
Products and services20242025
Product - Sancuso$9.0M$11.9M
Product - Kristalose$15.3M$10.5M
Product - Vibativ$7.2M$9.5M
Product - Caldolor$5.0M$4.7M
Manufactured Product, Other$1.3M$4.1M
Product - Other$1.3M$4.1M
Product - Talicia$0$3.3M
Product - Acetadote$185.2K$508.2K
Product - RediTrex$90.2K$11.4K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue15¢$6.7M
  • Research and development13¢$5.6M
  • Other costs71¢$31.8M
  • Interest1¢$496.0K
  • Income tax0¢$40.3K

Out of $44.5M in revenue.4 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢$97.9K
  • Share buybacks5¢$263.5K
  • Kept or used elsewhere93¢$4.6M

Out of $4.9M of cash from operations.4

Financial statements

Revenue56784$44.5M in 2025+37% since 2019
0$20.0M$40.0M$60.0M2019: $32.4M$32.4M20192020: $35.8M$35.8M2020+11%2021: $35.0M$35.0M2021−2%2022: $42.0M$42.0M2022+20%2023: $39.6M$39.6M2023−6%2024: $37.9M$37.9M2024−4%2025: $44.5M$44.5M2025+18%
Operating income56784-$2.8M in 2025−70% since 2019
-$10.0M-$7.5M-$5.0M-$2.5M02019: -$9.3M-$9.3M20192020: -$6.4M-$6.4M2020−31%2021: -$7.7M-$7.7M2021+20%2022: -$5.7M-$5.7M2022−26%2023: -$9.6M-$9.6M2023+67%2024: -$6.4M-$6.4M2024−33%2025: -$2.8M-$2.8M2025−57%
Net income56784-$2.8M in 2025−20% since 2019
-$8.0M-$6.0M-$4.0M-$2.0M02019: -$3.5M-$3.5M20192020: -$3.3M-$3.3M2020−6%2021: -$3.5M-$3.5M2021+5%2022: -$5.6M-$5.6M2022+59%2023: -$6.3M-$6.3M2023+13%2024: -$6.5M-$6.5M2024+3%2025: -$2.8M-$2.8M2025−56%

Every line of the income statement as filed: the last 2 fiscal years (annual) or 8 quarters (quarterly), latest first.4

Period ending2025-12-312024-12-31
Net revenues$44.5M$37.9M
Cost of products sold$6.7M$6.6M
Selling and marketing$19.1M$17.0M
Research and development$5.6M$4.8M
General and administrative$11.9M$11.1M
Amortization and impairment$4.0M$4.7M
Total costs and expenses$47.3M$44.3M
Operating loss-$2.8M-$6.4M
Interest income$476.7K$334.4K
Other income - gain on insurance proceeds$0$237.1K
Interest expense-$496.0K-$605.5K
Loss before income taxes-$2.8M-$6.5M
Income tax (expense) benefit-$40.3K$22.7K
Equity in loss of investee-$13.2K$0
Net loss-$2.9M-$6.4M
Net (income) loss at subsidiary attributable to noncontrolling interests$28.6K-$36.1K
Net loss attributable to common shareholders-$2.8M-$6.5M
Basic (in USD per share)-$0.19-$0.46
Diluted (in USD per share)-$0.19-$0.46
Basic (in shares)14.9M shares14.1M shares
Diluted (in shares)14.9M shares14.1M shares

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Corporate structure

CUMBERLAND PHARMACEUTICALS INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of CUMBERLAND PHARMACEUTICALS INC

  • CUMBERLAND PHARMACEUTICALS INC Nashville, Tennessee

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CUMBERLAND PHARMACEUTICALS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.8M4 Dec 31, 2025$2.7M4 Dec 31, 2024+3.7%
Accumulated depreciation$2.5M4 Dec 31, 2025$2.4M4 Dec 31, 2024+4.6%
Property and equipment, net$264.7K4 Dec 31, 2025$277.4K4 Dec 31, 2024−4.6%
Operating-lease assets (leased space)$8.3M4 Dec 31, 2025$6.2M4 Dec 31, 2024+35.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$11.4M4 Dec 31, 2025$18.0M4 Dec 31, 2024−36.3%
Stakes in other companies (equity method)$4.0M4 Oct 20, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$914.0K4 Dec 31, 2025$914.0K4 Dec 31, 20240%
Finite-lived intangibles, net$14.0M4 Dec 31, 2025$18.0M4 Dec 31, 2024−22.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$6.2M4 Dec 31, 2025$4.0M4 Dec 31, 2024+55.6%
Raw materials$9.8M4 Dec 31, 2025$12.0M4 Dec 31, 2024−17.9%
Finished goods$5.6M4 Dec 31, 2025$2.9M4 Dec 31, 2024+94.9%

Properties, in its own words

As of December 31, 2025, we leased approximately 16,903 rentable square feet of space at the Broadwest development in Nashville, Tennessee for our corporate headquarters. The lease commencement date occurred in October 2022 with a term of 157 months leased through November 2035. We believe these facilities are adequate to meet our current needs for office space. Manufacturing, packaging or warehousing services are provided to us through contracts with third-party organizations.

The laboratory space at CET, under an agreement amended in July 2012, is now leased through April 2028. During 2023, Cumberland exercised the 2nd Extension option to extend the lease for five more years through April 2028. CET leases approximately 14,200 square feet of office and wet laboratory space in Nashville, Tennessee to operate the CET Life Sciences Center. Cumberland’s product formulation and testing laboratories are located at this facility, along with CET’s offices. The CET Life Sciences Center also provides laboratory and office space, equipment and infrastructure to early-stage life sciences companies and university spin-outs.

Item 2 of the 10-K filed Mar 9, 2026.3

Leadership

Who has led CUMBERLAND PHARMACEUTICALS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. A. J. Kazimi2009–now

Chair

  1. A. J. Kazimi2009–now

Chief financial officer

  1. David L. Lowrance2009–2011
  2. Michael Bonner2016–2021
  3. John M. Hamm2021–now
2010201520202025
Board members and other officers (17)

Timeline

  1. Sep 11, 20268-K Shareholder vote33
  2. Aug 28, 20268-K Regulation FD disclosure34
  3. Aug 4, 20268-K Results of operations35
  4. Jul 13, 20268-K Other events36
  5. Jul 1, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale37
  6. Jun 25, 20268-K Shareholder vote38
  7. May 5, 20268-K Results of operations39
  8. Apr 24, 20268-K Shareholder vote40
  9. Apr 23, 20268-K Entered a material agreement; Regulation FD disclosure; Other events41
  10. Mar 3, 20268-K Results of operations42
  11. Feb 4, 20268-K Other events43
  12. Nov 24, 20258-K Entered a material agreement; New debt or obligation44
  13. Aug 11, 2009New chief executive A. J. Kazimi becomes CEO12

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/202645

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results35
  2. May 5, 2026Reported quarterly or annual results39
  3. Mar 3, 2026Reported quarterly or annual results42
  4. Nov 4, 2025Reported quarterly or annual results46
  5. Aug 5, 2025Reported quarterly or annual results47
  6. May 6, 2025Reported quarterly or annual results48
  7. Mar 4, 2025Reported quarterly or annual results49
  8. Nov 7, 2024Reported quarterly or annual results50

Drug trials and FDA: recently

  1. Mar 2026Phase 2 trial completed Phase 2 trial of Oral Ifetroban in Scleroderma, Diffuse: primary completion Mar 2026, no results posted yet (ClinicalTrials.gov NCT02682511).51
  2. Mar 6, 2024Phase 2 trial completed Phase 2 trial of Ifetroban in Duchenne Muscular Dystrophy Cardiomyopathy: primary completion Mar 6, 2024, results posted Jan 26, 2026 (ClinicalTrials.gov NCT03340675).52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

338 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 68 major events, 212 insider forms, 10 large holders, 28 other. The latest 20:

  1. Sep 11, 20268-K/A EDGAR
  2. Aug 28, 20268-K EDGAR
  3. Aug 7, 202610-Q EDGAR
  4. Aug 4, 20268-K EDGAR
  5. Jul 13, 20268-K EDGAR
  6. Jul 1, 20268-K EDGAR
  7. Jun 25, 20268-K EDGAR
  8. May 26, 2026DEFM14A EDGAR
  9. May 15, 2026PREM14A EDGAR
  10. May 8, 202610-Q EDGAR
  11. May 5, 20268-K EDGAR
  12. Apr 24, 20268-K EDGAR
  13. Apr 23, 2026DEFA14A EDGAR
  14. Apr 23, 20268-K EDGAR
  15. Mar 20, 20264 EDGAR
  16. Mar 20, 20264 EDGAR
  17. Mar 20, 20264 EDGAR
  18. Mar 20, 20264 EDGAR
  19. Mar 20, 20264 EDGAR
  20. Mar 20, 20264 EDGAR

The 338 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1,727 open-market trades by officers, directors and large owners since October 2021: 1,727 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 29, 2025Young CarolineDirectorBuy6$3.45$21Form 4
Aug 29, 2025Jones JamesDirectorBuy13$3.45$45Form 4
Aug 29, 2025KAZIMI A JChairman and CEOBuy13$3.45$45Form 4
Aug 29, 2025Krogulski KennethDirectorBuy68$3.45$235Form 4
Aug 28, 2025Young CarolineDirectorBuy6$3.47$21Form 4
Aug 28, 2025Jones JamesDirectorBuy13$3.47$45Form 4
Aug 28, 2025KAZIMI A JChairman and CEOBuy13$3.47$45Form 4
Aug 28, 2025Krogulski KennethDirectorBuy68$3.47$236Form 4
Aug 27, 2025Young CarolineDirectorBuy6$3.44$21Form 4
Aug 27, 2025Jones JamesDirectorBuy13$3.44$45Form 4
Aug 27, 2025KAZIMI A JChairman and CEOBuy13$3.44$45Form 4
Aug 27, 2025Krogulski KennethDirectorBuy68$3.44$234Form 4
Aug 26, 2025Young CarolineDirectorBuy6$3.39$20Form 4
Aug 26, 2025Jones JamesDirectorBuy13$3.39$44Form 4
Aug 26, 2025KAZIMI A JChairman and CEOBuy13$3.39$44Form 4
Aug 26, 2025Krogulski KennethDirectorBuy68$3.39$231Form 4
Aug 25, 2025Young CarolineDirectorBuy6$3.32$20Form 4
Aug 25, 2025Jones JamesDirectorBuy13$3.32$43Form 4
Aug 25, 2025KAZIMI A JChairman and CEOBuy13$3.32$43Form 4
Aug 25, 2025Krogulski KennethDirectorBuy68$3.32$226Form 4

All 1,727 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025A.J. Kazimi$730.1K$1.6M57
2025Todd M. Anthony$297.6K$355.6K57
2025Chris T. Bitterman$268.8K$322.5K57
2025John M. Hamm$256.1K$312.4K57
2025James L. Herman$200.0K$224.7K57
2024A.J. Kazimi$702.0K$1.2M57
2024James L. Herman$310.0K$349.1K57
2024Todd M. Anthony$286.1K$323.8K57
2024Chris T. Bitterman$268.8K$306.0K57
2024John M. Hamm$246.2K$283.0K57
2023A.J. Kazimi$675.0K$1.2M57
2023James L. Herman$310.0K$400.1K57
2023Todd M. Anthony$272.5K$330.9K57
2023Chris T. Bitterman$258.5K$316.3K57
2023John M. Hamm$228.0K$284.0K57

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.2M 2020–2020
Money received by yearMoney received by year, 2020–2020: $2.2M in all. PPP loans $2.2M.$0$1M$2M$3M2020 · PPP loans: $2.2M2020
Figures by year
YearPPP loansTotal
2020$2.2M$2.2M

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA58. Matched to this company by name and state.

  1. Apr 14, 2020$2.2M PPP loan (first draw) from Pinnacle Bank58To CUMBERLAND PHARMACEUTICALS INC., Nashville TN; $2.2M forgiven Jun 11, 2021

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 31. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ikarian Capital, LLC503,153$3.3M0.5%−50,000
Renaissance Technologies LLC478,263$3.1M0.0%+7,567
Vanguard Capital Management LLC379,478$2.5M0.0%+17,719
Dimensional Fund Advisors LP233,305$1.5M0.0%−43,054
Boothbay Fund Management, LLC112,544$729.3K0.0%−15,150
Geode Capital Management, LLC108,413$702.6K0.0%−5,880
Perceptive Advisors LLC96,982$628.4K0.0%−99,996
Citadel Advisors LLC73,391$475.6K0.0%+56,748
BlackRock, Inc.63,547$411.8K0.0%+6,656
Bank of New York Mellon Corp58,458$378.8K0.0%No change
Jane Street Group, LLC56,741$367.7K0.0%+42,134
Vanguard Fiduciary Trust Co54,909$355.8K0.0%+9,286
State Street Corp39,510$256.0K0.0%No change
UBS Group AG26,339$170.7K0.0%+21,150
Bridgeway Capital Management, LLC26,200$169.8K0.0%−137,268
Bailard, Inc.24,624$159.6K0.0%New
Quadrature Capital Ltd24,014$155.6K0.0%New
Two Sigma Investments, LP23,981$155.4K0.0%+12,896
Northern Trust Corp21,953$142.3K0.0%+2,350
Arrowstreet Capital, Limited Partnership20,252$131.2K0.0%No change
Cresset Asset Management, LLC19,475$126.2K0.0%No change
XTX Topco Ltd14,118$91.5K0.0%−9,888
Simplex Trading, LLC4,544$29.4K0.0%New
Morgan Stanley3,261$21.1K0.0%+1
Institute for Wealth Management, LLC.352$2.3K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CUMBERLAND PHARMACEUTICALS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCUMBERLAND PHARMACEUTICALS INC1
  • CIK0001087294
  • Employer ID (EIN)62-17653293
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inTennessee3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1600 West End Avenue, Suite 1300, Nashville,, TN 372031
  • Mailing address1600 West End Avenue, Suite 1300, Nashville, TN 372031
  • Phone615-255-00681
  • Shares outstanding14,983,107 as of Aug 5, 202610
  • Public float$29.4M as of Jun 30, 20253
  • AuditorCarr, Riggs & Ingram, LLC, Nashville, Tennessee PCAOB ID 2133
  • On EDGAR sinceMay 2, 20021
  • Filings1,036 in all: 4 (465), 8-K (227), 10-Q (52), SC 13G/A (33), CORRESP (31), CT ORDER (27), 3 (23), SC 13G (22)1
    All 38 form types

    UPLOAD (21), S-1/A (20), 10-K (17), DEF 14A (16), 5 (15), DEFA14A (9), 4/A (6), EFFECT (5), 8-K/A (4), ARS (4), S-3 (4), SCHEDULE 13G (4), 3/A (3), 424B5 (3), REGDEX (3), S-3/A (3), SC TO-I/A (3), CERTNAS (2), S-8 (2), SCHEDULE 13G/A (2), 10-Q/A (1), 424B4 (1), 8-A12B (1), 8-A12B/A (1), DEFM14A (1), DEFR14A (1), DEL AM (1), PREM14A (1), S-1 (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Mar 9, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Mar 9, 2026
    Latest 8-K (8-K) Aug 28, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.00 par value per shareCPIXNasdaq Global Select Market

From the cover page of the 10-K filed Mar 9, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks CUMBERLAND PHARMACEUTICALS INC names in Item 1A of its 10-K filed Mar 9, 2026: 55 risks under these headings, as written.3

  • RISKS RELATED TO OUR BUSINESS
  • Global and national economic conditions and events, including, but not limited to increased inflation, changes in interest rates, tariffs, supply chain disruptions, labor conditions, pandemics and public health crises and international conflicts, could affect our future access to liquidity and materially adversely affect our results of operations and financial condition.
  • An adverse development regarding our products could have a material and adverse impact on our future revenues and profitability.
  • If any manufacturer or partner we rely upon fails to supply our products in the amounts we require on a timely basis, or fails to comply with stringent regulations applicable to pharmaceutical drug manufacturers, we may be unable to meet demand for our products and may lose potential revenues.
  • We are dependent on a variety of other third parties. If these third parties fail to perform as we expect, our operations could be disrupted and our financial results could suffer.
  • Competitive pressures could reduce our revenues and profits.
  • If generic products that compete with any of our branded pharmaceutical products are approved and sold, sales of our products will be adversely affected.
  • Any attempt by us to expand the potential market for any of our products is subject to limitations.
  • Our future growth depends on our ability to identify, acquire rights and successfully integrate new brands into our operations. If we do not successfully identify and acquire rights to products or if we do not successfully integrate acquired product brands into our operations, our growth opportunities may be limited.
  • Our ifetroban product candidates have not been approved for sale and may never be successfully commercialized.
  • If we are unable to maintain, train and build an effective sales and marketing infrastructure, we will not be able to commercialize and grow our products and product candidates successfully.
  • If governmental or third-party payors do not provide adequate reimbursement for our products, our revenue and prospects for profitability may be limited.
The other 44 risks
  • “Formulary” practices of third-party payors could adversely affect our competitive position.
  • Continued consolidation of distributor networks in the pharmaceutical industry as well as increases in retailer concentration may limit our ability to profitably sell our products.
  • Our CET joint initiative may not result in our gaining access to commercially viable products.
  • We depend on our key personnel, the loss of whom would adversely affect our operations. If we fail to attract and retain the talent required for our business, our business will be materially harmed.
  • The size of our organization and our potential growth may lead to difficulties in managing operations.
  • We face potential product liability exposure, and if successful claims are brought against us, we may incur substantial liability for a product or product candidate and may have to limit its commercialization.
  • Regulatory approval for any approved product is limited by the FDA to those specific indications and conditions for which clinical safety and efficacy have been demonstrated.
  • Our business and operations would suffer in the event of system failures, security breaches, including any cybersecurity incidents, adverse events or other disruptions within our information technology infrastructure at our corporate headquarters; or in the event of intellectual property infringement.
  • We license our products globally; therefore, we may have exposure to foreign regulatory requirements and fluctuations in foreign currency exchange rates.
  • We may decide not to commercialize one of our drug candidates once it obtains regulatory approval if we determine that commercialization of that product would require more capital and time than we are willing to invest.
  • Any approved drug product that we bring to the market may not gain market acceptance by physicians, patients, healthcare payors and others in the medical community.
  • We may acquire businesses or assets, form joint ventures or make investments in other companies that may be unsuccessful, divert our management’s attention and harm our operating results and prospects.
  • We may be required to modify our business practices, pay fines and significant expenses or experience other losses due to governmental investigations or other enforcement activities.
  • RISKS RELATING TO GOVERNMENT REGULATION
  • Proposed legislation may permit re-importation of drugs from other countries into the U.S., including foreign countries where the drugs are sold at lower prices than in the U.S., which could materially and adversely affect our operating results and our overall financial condition.
  • Legislative and regulatory changes affecting pricing of pharmaceutical products could materially and adversely affect our operating results and our overall financial condition.
  • We must comply with the CREATES Act.
  • We must comply with the Foreign Corrupt Practices Act.
  • We must comply with the Physician Payment Sunshine Act.
  • We must comply with healthcare fraud and abuse laws and regulations.
  • If we fail to comply with our reporting and payment obligations under the Medicaid Drug Rebate program or other governmental pricing programs, we could be subject to additional reimbursement requirements, penalties, sanctions and fines, which could have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • We may be subject to foreign, federal, and state data privacy and security laws, and failure to protect our information systems against security breaches, service interruptions, or misappropriation of data could disrupt operations, compromise sensitive data, and expose us to liability, possibly causing our business and reputation to suffer.
  • We may be subject to laws and regulations governing our use of Artificial Intelligence.
  • RISKS RELATING TO INTELLECTUAL PROPERTY
  • Our strategy to secure and extend marketing exclusivity or patent rights may provide only limited or no protection from competition.
  • If we are unable to protect the confidentiality of our proprietary information and know-how, the value of our technology and products could be adversely affected.
  • We may depend on certain licensors for the maintenance and enforcement of intellectual property rights and have limited, if any, control over the amount or timing of resources that our licensors devote on our behalf.
  • If the use of our technology conflicts with the intellectual property rights of third parties, we may incur substantial liabilities, and we may be unable to commercialize products based on this technology in a profitable manner or at all.
  • We may be involved in lawsuits to protect or enforce our patents or the patents of our collaborators or licensors, which could be costly and time consuming.
  • We may be involved in lawsuits to protect or enforce our trademarks or for allegedly infringing the trademark rights of others, which could be costly and time consuming.
  • If we breach any of the agreements under which we license rights to our products and product candidates from others, we could lose the ability to continue commercialization of our products and development and commercialization of our product candidates.
  • We may be subject to claims that our employees have wrongfully used or disclosed alleged trade secrets of their former employers.
  • RISKS RELATED TO OUR FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Our operating results are likely to fluctuate from period to period.
  • Our focus on acquisitions as a growth strategy has created intangible assets whose amortization could negatively affect our results of operations.
  • We may need additional funding and may be unable to raise capital when needed, which could force us to delay, reduce or eliminate our product development or commercialization and marketing efforts.
  • We may incur losses in the future and we may not achieve or maintain profitability.
  • Our officers, directors, and principal shareholders, acting as a group, could significantly influence corporate actions.
  • Research analysts may not continue to provide or initiate coverage of our common stock or may issue negative reports.
  • RISKS RELATED TO OWNING OUR STOCK
  • The market price of our common stock may fluctuate substantially.
  • Unstable market conditions may have serious adverse consequences on our business.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would harm our business and the trading price of our common shares.
  • We may not be able to maintain our listing on the NASDAQ Global Select Market (“NASDAQ”), which could have a material adverse effect on us and our stockholders.
  • Some provisions of our fourth amended and restated charter, bylaws and Tennessee law may inhibit potential acquisition bids that you may consider favorable.
  • We have never paid cash dividends on our capital stock.
  • DEBT-RELATED RISKS
  • Our Revolving Credit Agreement imposes restrictive and financial covenants on us. Our failure to comply with these covenants could trigger events that would have a material adverse effect on our business.
  • We have risks related to interest rates.

Sources

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