Cipher Reports YE 2023 results; Epuris grows +10% Y/Y; company begins planning for commercialization of Terclara; CFO +49% Y/Y; Cash and Cash Equivalents +39% Y/Y offset by stock buybacks

TL;DR - Product revenues continued to grow as a percent of the company’s total revenue with Epuris growing by 10%. Margins were maintained and Cipher continues to rapidly accumulate cash onto the balance sheet.

Key forward risk for current portfolio to track: Absorica LD launched in Canada during December of last year. If this eats into Epuris share, it will be visible starting next quarter.

Brief discussion of Terclara below