CIPHER PHARMACEUTICALS INC

Ticker: CPHRF CUSIP: 17253X105 Class: COM

O'SHAUGHNESSY ASSET MANAGEMENT, LLC's Holding History (CIK: 0001423442)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 638,000 Value ($000) $2,356 Avg Close $6.95 Range $3.55 - $10.25

Q2 2015

Shares 795,947 Value ($000) $6,813 Avg Close $9.96 Range $8.52 - $12.33

Q1 2015

Shares 893,421 Value ($000) $8,079 Avg Close $12.59 Range $9.07 - $15.28

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	638,000	$2,356	$6.95	$3.55 - $10.25
Q2 2015	795,947	$6,813	$9.96	$8.52 - $12.33
Q1 2015	893,421	$8,079	$12.59	$9.07 - $15.28