Q: The 5i profile on Cipher Pharma lists only 5 employees - how accurate and current are such numbers? Also you dropped coverage on this stock in 2018 "until some visibility emerges." which now seems to be clear, would you consider recovering?
5i Research Answer:
Our data comes from a third party. Bloomberg shows 0 employees! In situations like this, data is only accurate if disclosed by the company. A search of its website does not get an easy result on the number of employees, so most sites would out n/a. Rocket Reach (another site) shows only 30 employees. In terms of coverage, CPH has since 2018 gone from having debt to having $42M cash. While revenue has not grown much, it has been profitable since that time, with decent cash flow. Market cap is near $200M and momentum is good. We do need to cover more in the sector so we will consider it.