Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX) is engaged as a specialty pharmaceutical company, which is focused on development and delivery of high-quality prescription medications. The pharmaceutical company’s pipeline covers hospital acute care, gastroenterology, and rheumatology. Shares of the specialty pharmaceutical company are skyrocketing 121% through early trading on Tuesday, November 30, 2021. Over the past three months, Cumberland Pharmaceuticals has seen average daily volume of 326,830 shares. However, volume of 94.17 million shares or dollar volume of around $486.86 million, has already exchanged hands through afternoon trading Tuesday.
Shares of Cumberland Pharmaceuticals are surging Tuesday, after the company announced that the U.S. Food and Drug Administration (FDA) has approved expanded labeling for the company’s Caldolor pain reliever for use during pre-operation. Caldolor is an intravenously-delivered ibuprofen formula. The FDA ruling allows health care professionals to administer Caldolor to patients preparing for surgery. This helps the patients to wake up from surgery with “significantly less pain,” according to the company.
The study supporting the FDA’s decision featured a total of 185 patients randomly treated with either 800mg of Caldolor or a placebo, over a six-hour period. Cumberland Pharmaceuticals says efficacy of Caldolor was clearly demonstrated as the treatment group faced a greater reduction in pain over the first 24 hours post-surgery, compared to the placebo.
“Before the pandemic began, healthcare systems across the country were in the midst of a public health mission to control surgical pain while decreasing opioid consumption,” said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals Inc. “We are proud to see the continued support for Caldolor’s use in surgical care, with the product’s approved labeling now including the expanded use of the product prior to surgery. We feel confident that this important development provides additional insights into how intravenous ibuprofen can help healthcare professionals and patients as elective surgeries resume.”
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