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Cipher Reports 30 % Revenue Growth and 40 % Adjusted EBITDA Growth in Second Quarter of 2021 , Driven by Strength in Epuris and Absorica • Revenue increases 30 % to $ 6.1 million , Adjusted EBITDA² increases 40 % to $ 4.1 million ⚫ EPS increases 450 % to $ 0.11 ( CDN $ 0.141 ) Epuris revenue grows 63 % , Absorica revenue grows 25 % All figures in U.S. dollars , unless otherwise noted OAKVILLE , ON , Aug. 12 , 2021 / CNW / - Cipher Pharmaceuticals Inc. ( TSX : CPH ) ( " Cipher " or " the Company " ) today announced its financial and operating results for the three and six - months ended June 30 , 2021. Unless otherwise noted , all figures are in U.S. dollars . Q2 2021 Financial Highlights ( All figures in U.S. dollars , compared to Q2 2020 , unless otherwise noted ) • Total revenue increased 30 % to $ 6.1 million compared to $ 4.7 million • SG & A decreased 10.3 % to $ 1.2 million compared to $ 1.3 million • Adjusted EBITDA increased 40 % to $ 4.1 million compared to $ 2.9 million Earnings per common share increased 450 % to $ 0.11 compared to $ 0.02 • As at June 30 , 2021 the company had $ 16.1 ( CDN $ 19.9 ) million in cash or $ 0.60 per share ( CDN $ 0.74 ) - • Normal Course Issuer Bid – 631,000 shares repurchased and cancelled to the end of June 30 , 2021 Management Commentary Craig Mull , Interim CEO commented , " Our second quarter results demonstrated strong sequential and year - over - year growth in revenue , EBITDA and earnings per share , driven by growth in our license and product portfolios . In addition , we generated $ 7.6 million in cash from operating activities in the six - months ending June 30 , 2021 , ending the quarter with a strong balance sheet , and placing us in an excellent position as we continue to assess growth opportunities and maximize income generated from our distribution agreements . " " During the second quarter we launched Absorica AG with our marketing partner Sun Pharmaceutical Industries , Inc. ( " Sun Pharma " ) . We believe that this will broaden Cipher's isotretinoin portfolio and ensure we have products to serve each segment of this market and maximize the value of this portfolio . The U.S isotretinoin prescription market increased by 18.2 % in the six - month period ended June 30 , 2021 , which helped drive growth in our licensing revenue during the second quarter , as we were first to market with an authorized generic version of AbsoricaⓇ . Although it is still early , it is our belief that the lower priced generic may have driven an expansion of the overall market . " " Currently , in our isotretinoin portfolio , Cipher is receiving royalties from Sun Pharma for the branded product , Absorica , the authorized generic , as well as ABSORICA LDⓇ , " noted Craig Mull , Interim CEO of Cipher . " We are confident that working with Sun Pharma is the right economic decision for Cipher and is consistent with our overall strategy to maximize the value of the isotretinoin portfolio , " added Mr. Mull . Outlook