SEC Company Response from CUMBERLAND PHARMACEUTICALS INC (CPIX) (CIK 0001087294) (CPIX) — Jul 11, 2007
CUMBERLAND PHARMACEUTICALS INC (CPIX) (CIK 0001087294)
Date: July 11, 2007 · CIK: 0001087294 · Accession: 0000950144-07-006507
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-142535
Referenced dates: June 8, 2007
Letter
Certain portions of this correspondence have been omitted pursuant to a request for confidential treatment which has been filed separately with the SEC.
June 22, 2007
United States Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention:
Mr. Jeffrey P. Riedler
Assistant Director
Re:
Cumberland Pharmaceuticals Inc.
Form S-1 Registration Statement
File No. 333-142535
Ladies and Gentlemen:
We are responding supplementally to comments received in a letter dated June 8, 2007 from Mr. Jeffrey P. Riedler to Mr. A.J. Kazimi with respect to the Form S-1 Registration Statement of Cumberland Pharmaceuticals Inc. filed on May 1, 2007.
1) To fulfill our response to your Comment No. 8, we hereby provide the Commission a copy of the article entitled “An update of N- acetylcysteine treatment for acute acetaminophen toxicity in children” by Laurie Marzullo, published by Lippincott Williams & Wilkins, Curr Opin Pediatr 17:239-245, 2005.
2) To fulfill our response to your Comment No. 28, we hereby advise the Commission Staff that the Company considers the following public companies to be its peers: Myriad Genetics, Inc. (“MYGN”), Bradley Pharmaceuticals, Inc. (“BDY”), Nabi Biopharmaceuticals (“NABI”), Forest Laboratories, Inc. (“FRX”) and Salix Pharmaceuticals, Ltd (“SLXP”).
3) To fulfill our response to your Comment No. 48, we hereby provide the following itemized chronological schedule covering all equity instruments issued by the Company since January 1, 2006:
Securities and Exchange Commission
June 22, 2007
Page 2
CUMBERLAND PHARMACEUTICALS INC
COMMON STOCK CERTIFICATES
Certificate
Issued
Number of
Issue
Value of Shares
Number
Name
Related Party
Price
Shares
Date
Transacted
Nature of Grant
[***]
Board member
$ 18.00
6,000
2/1/2006
108,000.00
Services
[***]
Sr V.P. and Medical Director
$ 18.00
1,350
2/1/2006
24,300.00
Services
[***]
Board member
$ 22.00
1,091
12/29/2006
24,002.00
Services
[***]
Board member
$ 22.00
1,091
12/29/2006
24,002.00
Services
[***]
Board member
$ 22.00
1,091
12/29/2006
24,002.00
Services
[***]
Board member
$ 22.00
3,136
12/29/2006
68,992.00
Services
[***]
Board member
$ 22.00
2,200
2/1/2007
48,400.00
Services
[***]
Board member
$ 22.00
3,318
2/1/2007
72,996.00
Services
[***]
Consultant
$ 22.00
2,500
2/1/2007
55,000.00
Services
[***]
Sr V.P. and Medical Director
$ 22.00
2,600
2/1/2007
57,200.00
Services
[***]
HR Consultant
$ 22.00
1,000
2/1/2007
22,000.00
Services
OPTIONS GRANTED
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
N-104
[***]
Consultant
$ 18.00
$ 18.00
10,000
1/31/2006
60 days after vest
Services
N-105
[***]
CET consultant
$ 18.00
$ 18.00
2,000
1/31/2006
Services
I-45
[***]
employee
$ 18.00
$ 19.80
10,000
6/30/2006
Employee incentives
I-46
[***]
employee
$ 18.00
$ 18.00
6,500
6/30/2006
Employee incentives
I-47
[***]
employee
$ 18.00
$ 18.00
5,500
6/30/2006
Employee incentives
I-48
[***]
employee
$ 18.00
$ 18.00
1,300
6/30/2006
Employee incentives
I-49
[***]
employee
$ 18.00
$ 18.00
1,000
6/30/2006
Employee incentives
I-50
[***]
employee
$ 18.00
$ 18.00
7,500
7/17/2006
Employee incentives
I-51
[***]
employee
$ 18.00
$ 18.00
1,575
9/1/2006
Employee incentives
I-52
[***]
employee
$ 18.00
$ 18.00
1,200
10/15/2006
Employee incentives
I-53
[***]
employee
$ 18.00
$ 18.00
1,400
10/15/2006
Employee incentives
I-54
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-55
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-56
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-57
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-58
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-59
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-60
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-61
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-62
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
Securities and Exchange Commission
June 22, 2007
Page 3
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
I-63
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-64
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-65
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-66
[***]
employee
$ 22.00
$ 22.00
1/1/2007
Employee incentives
I-67
[***]
employee
$ 22.00
$ 22.00
6,000
2/2/2007
Employee incentives
I-68
[***]
employee
$ 22.00
$ 22.00
6,000
2/2/2007
Employee incentives
I-69
[***]
employee
$ 22.00
$ 22.00
5,000
2/2/2007
Employee incentives
I-70
[***]
employee
$ 22.00
$ 22.00
5,000
2/2/2007
Employee incentives
I-71
[***]
employee
$ 22.00
$ 22.00
4,000
2/2/2007
Employee incentives
I-72
[***]
employee
$ 22.00
$ 22.00
3,000
2/2/2007
Employee incentives
I-73
[***]
employee
$ 22.00
$ 22.00
2,000
2/2/2007
Employee incentives
I-74
[***]
employee
$ 22.00
$ 22.00
2/2/2007
Employee incentives
N-106
[***]
CET consultant
$ 22.00
$ 22.00
7,000
2/2/2007
Services
I-75
[***]
employee
$ 22.00
$ 22.00
2/26/2007
Employee incentives
WARRANTS GRANTED
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
W-3
Bank of America, N.A.
NO
$ 18.00
$ 18.00
1,979
4/6/2006
Loan Agreement Fee
If you have any additional questions, please call the undersigned at (615) 259-1479.
Sincerely yours,
ADAMS AND REESE LLP
Show Raw Text
CORRESP
1
filename1.htm
CORRESP
Certain
portions of this correspondence have been omitted pursuant to a
request
for confidential treatment which has been filed separately
with the SEC.
June 22, 2007
United States Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention:
Mr. Jeffrey P. Riedler
Assistant Director
Re:
Cumberland Pharmaceuticals Inc.
Form S-1 Registration Statement
File No. 333-142535
Ladies and Gentlemen:
We are responding supplementally to comments received in a letter dated June 8, 2007 from Mr.
Jeffrey P. Riedler to Mr. A.J. Kazimi with respect to the Form S-1 Registration Statement of
Cumberland Pharmaceuticals Inc. filed on May 1, 2007.
1) To fulfill our response to your Comment No. 8, we hereby provide the Commission a copy of
the article entitled “An update of N- acetylcysteine treatment for acute acetaminophen toxicity in
children” by Laurie Marzullo, published by Lippincott Williams & Wilkins, Curr Opin Pediatr
17:239-245, 2005.
2) To fulfill our response to your Comment No. 28, we hereby advise the Commission Staff that
the Company considers the following public companies to be its peers: Myriad Genetics, Inc.
(“MYGN”), Bradley Pharmaceuticals, Inc. (“BDY”), Nabi Biopharmaceuticals (“NABI”), Forest
Laboratories, Inc. (“FRX”) and Salix Pharmaceuticals, Ltd (“SLXP”).
3) To fulfill our response to your Comment No. 48, we hereby provide the following itemized
chronological schedule covering all equity instruments issued by the Company since January 1, 2006:
Securities and Exchange Commission
June 22, 2007
Page 2
CUMBERLAND PHARMACEUTICALS INC
COMMON STOCK CERTIFICATES
Certificate
Issued
Number of
Issue
Value of Shares
Number
Name
Related Party
Price
Shares
Date
Transacted
Nature of Grant
389
[***]
Board member
$
18.00
6,000
2/1/2006
108,000.00
Services
390
[***]
Sr V.P. and Medical
Director
$
18.00
1,350
2/1/2006
24,300.00
Services
415
[***]
Board member
$
22.00
1,091
12/29/2006
24,002.00
Services
416
[***]
Board member
$
22.00
1,091
12/29/2006
24,002.00
Services
417
[***]
Board member
$
22.00
1,091
12/29/2006
24,002.00
Services
418
[***]
Board member
$
22.00
3,136
12/29/2006
68,992.00
Services
425
[***]
Board member
$
22.00
2,200
2/1/2007
48,400.00
Services
426
[***]
Board member
$
22.00
3,318
2/1/2007
72,996.00
Services
427
[***]
Consultant
$
22.00
2,500
2/1/2007
55,000.00
Services
428
[***]
Sr V.P. and Medical
Director
$
22.00
2,600
2/1/2007
57,200.00
Services
429
[***]
HR Consultant
$
22.00
1,000
2/1/2007
22,000.00
Services
OPTIONS GRANTED
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
N-104
[***]
Consultant
$
18.00
$
18.00
10,000
1/31/2006
60 days after vest
Services
N-105
[***]
CET consultant
$
18.00
$
18.00
2,000
1/31/2006
10
Services
I-45
[***]
employee
$
18.00
$
19.80
10,000
6/30/2006
5
Employee incentives
I-46
[***]
employee
$
18.00
$
18.00
6,500
6/30/2006
10
Employee incentives
I-47
[***]
employee
$
18.00
$
18.00
5,500
6/30/2006
10
Employee incentives
I-48
[***]
employee
$
18.00
$
18.00
1,300
6/30/2006
10
Employee incentives
I-49
[***]
employee
$
18.00
$
18.00
1,000
6/30/2006
10
Employee incentives
I-50
[***]
employee
$
18.00
$
18.00
7,500
7/17/2006
10
Employee incentives
I-51
[***]
employee
$
18.00
$
18.00
1,575
9/1/2006
10
Employee incentives
I-52
[***]
employee
$
18.00
$
18.00
1,200
10/15/2006
10
Employee incentives
I-53
[***]
employee
$
18.00
$
18.00
1,400
10/15/2006
10
Employee incentives
I-54
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-55
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-56
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-57
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-58
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-59
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-60
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-61
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-62
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
Securities and Exchange Commission
June 22, 2007
Page 3
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
I-63
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-64
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-65
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-66
[***]
employee
$
22.00
$
22.00
500
1/1/2007
10
Employee incentives
I-67
[***]
employee
$
22.00
$
22.00
6,000
2/2/2007
10
Employee incentives
I-68
[***]
employee
$
22.00
$
22.00
6,000
2/2/2007
10
Employee incentives
I-69
[***]
employee
$
22.00
$
22.00
5,000
2/2/2007
10
Employee incentives
I-70
[***]
employee
$
22.00
$
22.00
5,000
2/2/2007
10
Employee incentives
I-71
[***]
employee
$
22.00
$
22.00
4,000
2/2/2007
10
Employee incentives
I-72
[***]
employee
$
22.00
$
22.00
3,000
2/2/2007
10
Employee incentives
I-73
[***]
employee
$
22.00
$
22.00
2,000
2/2/2007
10
Employee incentives
I-74
[***]
employee
$
22.00
$
22.00
500
2/2/2007
10
Employee incentives
N-106
[***]
CET consultant
$
22.00
$
22.00
7,000
2/2/2007
10
Services
I-75
[***]
employee
$
22.00
$
22.00
460
2/26/2007
10
Employee incentives
WARRANTS GRANTED
Underlying
Exercise price
Number of
Grant
Term
Number
Name
Related Party
Stock Value
Stock Value
Shares
Date
(in years)
Nature of Grant
W-3
Bank of America, N.A.
NO
$
18.00
$
18.00
1,979
4/6/2006
10
Loan Agreement Fee
If you have any additional questions, please call the undersigned at (615) 259-1479.
Sincerely yours,
ADAMS AND REESE LLP
/s/
Martin S. Brown, Jr.
cc:
Mary K. Fraser, Esq., United States Securities and Exchange Commission
A.J. Kazimi, Cumberland Pharmaceuticals Inc.
Donald J. Murray, Esq., Dewey Ballantine LLP, Counsel to the underwriters
Enclosure