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[BLOG] Idea Brunch

Added to YB: 2025-09-10

Pitch date: 2025-09-08

CPH.TO [bullish]

Cipher Pharmaceuticals Inc.

-16.58%

current return

Author Info

Idea Brunch is an interview series where great off-the-beaten-path investors share their best ideas and insights about their research process. Yellowbrick users get a 20% discount for life

Company Info

Cipher Pharmaceuticals Inc. operates as a specialty pharmaceutical company in Canada. It offers Epuris (isotretinoin), an oral retinoid indicated for the treatment of severe nodular and/or inflammatory acne, acne conglobate and recalcitrant acne; Actikerall, a topical solution indicated for the treatment of slightly palpable and/or moderately thick hyperkeratotic actinic keratosis (Grade I/II) of the face, forehead, and balding scalp; Natroba for the topical treatment of head lice and scabies infestations in adult and pediatric patients; Vaniqa, a topical cream for the slowing of the growth of unwanted facial hair in women; Durela, an opioid analgesic for the management of moderate to moderately severe pain in adults; Brinavess for the rapid conversion of onset atrial fibriallation to sinus rhythm in adults; and Aggrastat, a reversible GP IIb/IIIa inhibitor for use in patients with Acute Coronary Syndrome.

Market Cap

CAD 253.4M

Pitch Price

CAD 16.77

Price Target

N/A

Dividend

N/A

EV/EBITDA

13.11

P/E

14.93

EV/Sales

5.16

Sector

Pharmaceuticals

Category

value

Show full summary:
Idea Brunch with Anthony Fruci of Halvio Capital - Cipher Pharmaceuticals Inc.

CPH.TO: Specialty pharma w/ Epuris (50% severe acne market) + ParaPRO acquisition doubled EBITDA to ~$24M. Natroba has 23% scabies/lice share, superior to market leader Permethrin. Minimal debt, no capex means EBITDA=FCF. Targeting $50M EBITDA = 6x EV/FCF. CEO Craig Mull owns ~50%, proven allocator seeking more deals.

Read full article (1 min)