Cipher Pharma (CPHR) Confirms It's Working with Advisor on Various Strategic Alternatives

October 31, 2016 1:47 PM EDT
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Cipher Pharmaceuticals Inc. (NASDAQ: CPHR), in response to a request for comment from Investment Industry Regulatory Organization of Canada ("IIROC") and an article which appeared today in Reuters, announced that the Company is working with an advisor to consider various strategic alternatives potentially available to enhance shareholder value, with a focus on the U.S. business. The advisor was engaged as part of the previously announced strategic review being undertaken by Cipher's Board of Directors.

"As we have discussed in recent months, we are very focused on increasing the profitability of the business and are working with our advisor to evaluate options with a view to enhancing value for all shareholders," said Dr. John D. Mull, Chair of Cipher's Board of Directors.

While Cipher has engaged an advisor, there is no certainty that any transaction or alternative will be undertaken or pursued. The Company has not set a definitive schedule to complete its evaluation and no decision on any particular transaction or alternative has been reached at this time. The Company does not intend to disclose ongoing developments with respect to this process, but in accordance with its continuous disclosure obligations, will disclose material developments if, as and when they occur.

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