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Cipher Pharmaceuticals Inc. shares rose by more than 16 per cent this week after the company reported a big jump in both fourth-quarter revenue and adjusted EBITDA.
After markets closed on Tuesday, the company reported fourth-quarter revenue of US$11.8-million up 141 per cent from US$4.9-million a year earlier.
Adjusted EBITDA of US$5-million was up 73 per cent compared to US$2.9-million a year earlier.
Net income of $3.3-million or 13 cents US per share was down from US$7.7-million or 30 cents US a year earlier. The company said the drop was due largely to non-cash fair value adjustments to acquired inventory and costs related to its acquisition of Natroba last summer.
The stock is down 6 per cent so far this year and up 54 per cent over the past 12 months.
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