Cipher Pharmaceuticals Inc. (TSX:CPH) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to CAD 6 million worth of its outstanding shares. The shares will be tendered at a price of not less than CAD 3.95 per share and not more than CAD 4.75 per share.

The company plans to fund the offer from available cash on hand. The shares purchased under the offer will be cancelled. If the aggregate cost to purchase the tendered shares exceeds $6 million, the company will accept such shares on a pro-rata basis after giving effect to ?odd lot?

tenders, which will not be subject to pro-ration. The bid will expire on October 11, 2023, unless extended or withdrawn.