Debt-Free CPH: At 1.5 times its 2020 EBITDA And The Buyback pabaloo alias, you sold CPH but CPH is debt-free with a significant amount of cash, so its current Enterprise Value is just about 1.5 times its 2020 EBITDA. Dirt-cheap.
Thanks to its pristine balance sheet, CPH is seeking new growth opportunities, see excerpts from the latest Conference Call:
"The COVID-19 pandemic continued to impact the economy during the third quarter of 2020. Cipher is navigating through this environment while executing on business improvements and cost reductions. Cipher demonstrated strong profitability during the third quarter and sequential growth in revenue, despite market conditions that have not fully normalized. Our focus continues to be on driving profitability, strengthening the balance sheet and looking for the right opportunities for growth. "
"Cipher’s business and operations have demonstrated resilience as the COVID-19 pandemic continues to impact the world with the profitable business in a reduced cost structure, we feel that we are in an excellent position to start ramping up strategic promotional efforts to drive market share in our core brands and looking for the right opportunity to return Cipher to growth." You also missed the fact that CPH
bought back 205,000 shares in Q4 2020, when its average price was CAD$1 per share, facts below: "Update on normal course issuer bid ("NCIB") program: During the quarter ended December 31, 2020 Cipher purchased for cancellation 205,500 common shares under the NCIB program."
https://cipher.investorroom.com/2021-02-10-Cipher-Pharmaceuticals-Enters-into-Co-Promotion-Agreement-with-Verity-Pharmaceuticals-Inc Reminder. CPH bought back another 30,000 shares in Q3 2020 at C$1.14, facts below:
"During the period ended September 30, 2020, the Company purchased for cancellation 30,000 common shares at an average price of CAD$1.14 per common share."