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KemPharm (NASDAQ:KMPH) board has authorized a share repurchase program to up to $50M of the company’s outstanding stock. The share repurchase authorization is effective immediately and valid through December 31, 2023. Represents equivalent to approximately 18 percent of KemPharm’s current market capitalization of $274.79M. The company intends to fund repurchases from available working capital and cash provided by operating activities. Shares are up 5.53% PM.