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    Assertio Reports First Quarter 2024 Financial Results

    5/6/24 4:01:00 PM ET
    $ASRT
    Biotechnology: Pharmaceutical Preparations
    Health Care
    Get the next $ASRT alert in real time by email

    First Quarter Net Product Sales of $31.9 Million

    Rolvedon Growth Continues, with $14.5 million in Net Product Sales

    $7.5 Million in Cash Flow from Operations Increases Cash to $80.7 Million

    LAKE FOREST, Ill., May 06, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, today reported financial results for the first quarter ended March 31, 2024.

    "We are pleased to report a strong first quarter as our team continues to diligently execute our business plan and seeks to grow Assertio for the benefit of our stockholders," said Heather Mason, interim Chief Executive Officer. "Rolvedon generated its fifth consecutive quarter of demand growth since launch, driven by continued market penetration in the clinic setting. Additionally, we completed enrollment of Rolvedon's same-day dosing trial, and expect the data readout by year-end, providing a potential opportunity for differentiation through medical society guidelines. We remain committed to our lean promotion platform and steadfast in our business development efforts as we work to secure additional new assets to fuel both sales growth and incremental cash flow generation."

    "We are reiterating our guidance for 2024, calling for net product sales of $110 million to $125 million and adjusted EBITDA1 of $20 million to $30 million," concluded Mason.

    Financial Highlights (unaudited):

     Three Months Ended
    (in millions, except per share amounts)March 31, 2024 December 31, 2023 March 31, 2023
    Net Product Sales (GAAP)$31.9  $32.5  $41.8 
    Net Loss (GAAP)$(4.5) $(57.4) $(3.5)
    Loss Per Share (GAAP)$(0.05) $(0.61) $(0.07)
    Adjusted EBITDA (Non-GAAP)2$7.4  $4.5  $25.6 
    Adjusted Earnings Per Share (Non-GAAP)2$0.04  $0.11  $0.29 

    First quarter results included the following highlights (our discussion below focuses on a comparison of first quarter 2024 to fourth 2023 given the acquisition of Spectrum and the generic competition of Indocin in third quarter 2023):

    • Rolvedon net product sales increased to $14.5 million in the first quarter 2024, from $11.0 million in the fourth quarter 2023, (the first full quarter of Rolvedon sales at Assertio) driven by volume growth.
    • Indocin net product sales in the first quarter 2024 were $8.7 million, decreased from $10.8 million in the fourth quarter 2023, driven by generic competition that affected both volume and pricing.
    • Gross margin3 in the first quarter 2024 was 65% and included $4.1 million of amortization of Rolvedon purchase accounting inventory step-up amortization. Excluding step-up amortization, gross margin in the first quarter was 78% compared to 79% in fourth quarter 2023.
    • SG&A expense in the first quarter 2024 was $18.5 million, decreased from $24.0 million in the fourth quarter 2023, benefiting from actions the Company has taken to reduce and align expenses to its current portfolio.
    • Adjusted EBITDA was $7.4 million in the first quarter 2024, increased from $4.5 million in the fourth quarter 2023, primarily due to the impact of lower SG&A expense.

    Balance Sheet and Cash Flow

    • Assertio generated approximately $7.5 million in cash flow from operations in the first quarter of 2024.
    • For the quarter ended March 31, 2024, cash and cash equivalents totaled $80.7 million,
    • Convertible debt outstanding principal balance at March 31, 2024 was $40 million and does not mature until September 2027.

    2024 Full Year Financial Guidance

    Assertio reiterated its 2024 operating guidance as announced on March 11, 2024:

    Net Product Sales (GAAP)$110.0 Million to $125.0 Million
    Adjusted EBITDA (Non-GAAP)4$20.0 Million to $30.0 Million

    Conference Call and Investor Presentation Information

    Assertio's management will host a conference call to discuss its first quarter 2024 financial results today:

    Date:Monday, May 6, 2024
    Time:4:30 p.m. Eastern Time
    Webcast (live and archive):http://investor.assertiotx.com/overview/default.aspx (Events & Webcasts, Investor Page)
    Dial-in numbers:1-646-307-1963, Conference ID 4502314

    To access the live webcast, the recorded conference call replay, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 15 minutes prior to the live webcast to ensure adequate time for any software download that may be needed to access the webcast. The replay will be available approximately two hours after the call on Assertio's investor website.

    About Assertio

    Assertio is a commercial pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients. We have built our commercial portfolio through acquisition or licensing of approved products. Our commercial capabilities include marketing through both a sales force and a non-personal promotion model, market access through payor contracting, and trade and distribution. To learn more about Assertio, visit www.assertiotx.com.

    Investor Contact

    Matt Kreps, Managing Director

    Darrow Associates

    M: 214-597-8200

    [email protected] 

    Forward Looking Statements

    The statements in this communication include forward-looking statements. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology including such as "anticipate," "approximate", "believe," "could," "estimate," "expect," "goal," "intend," "may," "might," "opportunity," "plan," "potential," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "will," or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements, including: Assertio's ability to grow sales of Rolvedon and the commercial success and market acceptance of Rolvedon and Assertio's other products; Assertio's ability to successfully develop and execute its sales, marketing and promotion strategies using its sales force and non-personal promotion model capabilities; the impact on sales and profits from the entry and sales of generics of Assertio's products and/or other products competitive with any of Assertio's products (including indomethacin suppositories compounded by hospitals and other institutions including a 503B compounder which we believe to be violation of certain provisions of the Food, Drug and Cosmetic Act); the timing and impact of additional generic approvals and uncertainty around the recent approvals and launches of generic Indocin products (which are not patent protected and now face generic competition as a result of the August 2023 approval and launch of generic indomethacin suppositories and January 2024 approval and subsequent launch of a generic indomethacin oral suspension product); risks that any new businesses will not be integrated successfully or that the combined company will not realize estimated cost savings, value of certain tax assets, synergies and growth, or that such benefits may take longer and/or cost more to realize than expected; expected industry trends, including pricing pressures and managed healthcare practices; Assertio's ability to attract and retain executive leadership and key employees, including in connection with our ongoing search for a permanent CEO; the ability of Assertio's third-party manufacturers to manufacture adequate quantities of commercially salable inventory and active pharmaceutical ingredients for each of Assertio's products on commercially reasonable terms and in compliance with their contractual obligations to Assertio, and Assertio's ability to maintain its supply chain which relies on single-source suppliers; the outcome of, and Assertio's intentions with respect to, any litigation or government investigations, including pending and potential future shareholder litigation relating to the Spectrum Merger and/or the recent approval and launch of generic indomethacin suppositories, antitrust litigation, opioid-related government investigations and opioid-related litigation, as well as Spectrum's legacy shareholder and other litigation and, and other disputes and litigation, and the costs and expenses associated therewith; Assertio's financial cost and outcomes of clinical trials, including the extent to which data from the Rolvedon same-day dosing trial, if and when completed, may support ongoing commercialization efforts; Assertio's compliance with legal and regulatory requirements related to the development or promotion of its products; variations in revenues obtained from commercialization agreements and the accounting treatment with respect thereto; Assertio's common stock maintaining compliance with The Nasdaq Capital Market's minimum closing bid requirement of at least $1.00 per share, particularly in light of Assertio's stock trading below or only slight above $1.00 per share recently; and Assertio's ability to obtain and maintain intellectual property protection for its products and operate its business without infringing the intellectual property rights of others. For a discussion of additional factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the risks described in Assertio's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Many of these risks and uncertainties may be exacerbated by public health emergencies and general macroeconomic conditions. Assertio does not assume, and hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.

    Non-GAAP Financial Measures

    To supplement the Company's financial results presented on a U.S. generally accepted accounting principles ("GAAP") basis, the Company has included information about non-GAAP measures of EBITDA, adjusted EBITDA, adjusted earnings, and adjusted earnings per share as useful operating metrics. The Company believes that the presentation of these non-GAAP financial measures, when viewed with results under GAAP and the accompanying reconciliation, provides supplementary information to analysts, investors, lenders, and the Company's management in assessing the Company's performance and results from period to period. The Company uses these non-GAAP measures internally to understand, manage and evaluate the Company's performance, and in part, in the determination of bonuses for executive officers and employees. These non-GAAP financial measures should be considered in addition to, and not a substitute for, or superior to, net income or other financial measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may be calculated differently from, and therefore may not be comparable to, non-GAAP measures used by other companies.

    This release also includes estimated full-year non-GAAP adjusted EBITDA information, which the Company believes enables investors to better understand the anticipated performance of the business, but should be considered a supplement to, and not as a substitute for or superior to, financial measures calculated in accordance with GAAP. No reconciliation of estimated non-GAAP adjusted EBITDA to estimated net income is provided in this release because some of the information necessary for estimated net income such as income taxes, fair value change in contingent consideration, and stock-based compensation is not yet ascertainable or accessible and the Company is unable to quantify these amounts that would be required to be included in estimated net income without unreasonable efforts.

    Specified Items

    Non-GAAP measures presented within this release exclude specified items. The Company considers specified items to be significant income/expense items not indicative of current operations. Specified items may include adjustments to interest expense and interest income, income tax expense (benefit), depreciation expense, amortization expense, sales reserves adjustments for products the Company is no longer selling, stock-based compensation expense, fair value adjustments to contingent consideration or derivative liability, restructuring charges, amortization of fair value inventory step-up as a result of purchase accounting, transaction-related costs, gains, losses or impairments from adjustments to long-lived assets and assets not part of current operations, changes in valuation allowances on deferred tax assets, and gains or losses resulting from debt refinancing or extinguishment.

    CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (in thousands, except per share amounts)
    (unaudited)
     
     Three Months Ended
     March 31, 2024 December 31, 2023 March 31, 2023
    Revenues:     
    Product sales, net$31,862  $32,462  $41,769 
    Royalties and milestones 586   523   697 
    Total revenues 32,448   32,985   42,466 
    Costs and expenses:     
    Cost of sales 11,177   9,721   5,467 
    Research and development expenses 733   1,024   — 
    Selling, general and administrative expenses 18,524   23,958   16,904 
    Change in fair value of contingent consideration —   (17,414)  9,167 
    Amortization of intangible assets 5,631   4,775   6,284 
    Loss on impairment of intangible assets —   40,808   — 
    Restructuring charges 720   2,442   — 
    Total costs and expenses 36,785   65,314   37,822 
    (Loss) income from operations (4,337)  (32,329)  4,644 
    Other (expense) income:     
    Debt-related expenses —   —   (9,918)
    Interest expense (757)  (755)  (1,122)
    Other gain 716   1,179   802 
    Total other expense (income) (41)  424   (10,238)
    Net loss before income taxes (4,378)  (31,905)  (5,594)
    Income tax (expense) benefit (132)  (25,479)  2,110 
    Net loss and comprehensive loss$(4,510) $(57,384) $(3,484)
          
    Basic and diluted net loss per share$(0.05) $(0.61) $(0.07)
    Shares used in computing basic and diluted net loss per share 94,980   94,669   51,005 
                





    CONDENSED CONSOLIDATED BALANCE SHEETS
    (in thousands, except share and per share data)
     
     (unaudited)  
     March 31, 2024 December 31, 2023
    ASSETS   
    Current assets:   
    Cash and cash equivalents$80,743  $73,441 
    Accounts receivable, net 42,610   47,663 
    Inventories, net 38,602   37,686 
    Prepaid and other current assets 10,519   12,272 
    Total current assets 172,474   171,062 
    Property and equipment, net 704   770 
    Intangible assets, net 105,701   111,332 
    Other long-term assets 3,086   3,255 
    Total assets$281,965  $286,419 
    LIABILITIES AND SHAREHOLDERS' EQUITY   
    Current liabilities:   
    Accounts payable$15,650  $13,439 
    Accrued rebates, returns and discounts 57,870   58,137 
    Accrued liabilities 15,401   18,213 
    Contingent consideration, current portion 2,700   2,700 
    Other current liabilities 823   954 
    Total current liabilities 92,444   93,443 
    Long-term debt 38,621   38,514 
    Other long-term liabilities 16,406   16,459 
    Total liabilities 147,471   148,416 
    Commitments and contingencies   
    Shareholders' equity:   
    Common stock, $0.0001 par value, 200,000,000 shares authorized; 95,115,452 and 94,668,523 shares issued and

    outstanding as of March 31, 2024 and December 31, 2023, respectively.
     9   9 
    Additional paid-in capital 790,538   789,537 
    Accumulated deficit (656,053)  (651,543)
    Total shareholders' equity 134,494   138,003 
    Total liabilities and shareholders' equity$281,965  $286,419 
     



    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (unaudited)
     
     Three Months Ended March 31,
      2024  2023
    Operating Activities   
    Net loss$(4,510) $(3,484)
    Adjustments to reconcile net loss to net cash from operating activities:   
    Depreciation and amortization 5,696   6,484 
    Amortization of debt issuance costs and Royalty Rights 107   147 
    Recurring fair value measurements of assets and liabilities —   9,167 
    Debt-related expenses —   9,918 
    Provisions for inventory and other assets 1,428   1,072 
    Stock-based compensation 1,207   2,446 
    Deferred income taxes —   (1,367)
    Changes in assets and liabilities:   
    Accounts receivable 5,054   (1,109)
    Inventories (2,344)  (3,602)
    Prepaid and other assets 1,921   1,824 
    Accounts payable and other accrued liabilities (134)  (290)
    Accrued rebates, returns and discounts (267)  2,887 
    Interest payable (650)  (1,376)
    Net cash provided by operating activities 7,508   22,717 
    Investing Activities   
    Purchase of Sympazan —   (105)
    Net cash used in investing activities —   (105)
    Financing Activities   
    Payments in connection with 2027 Convertible Notes —   (10,500)
    Payment of direct transaction costs related to convertible debt inducement —   (1,119)
    Payment of contingent consideration —   (6,609)
    Payments related to the vesting and settlement of equity awards, net (206)  (722)
    Net cash used in financing activities (206)  (18,950)
    Net increase in cash and cash equivalents 7,302   3,662 
    Cash and cash equivalents at beginning of year 73,441   64,941 
    Cash and cash equivalents at end of period$80,743  $68,603 
    Supplemental Disclosure of Cash Flow Information   
    Net cash paid for income taxes$11  $29 
    Cash paid for interest$1,300  $2,351 
            





    RECONCILIATION OF GAAP NET LOSS TO NON-GAAP EBITDA and ADJUSTED EBITDA
    (in thousands)
    (unaudited)
     
      Three Months Ended  
      March 31, 2024 December 31, 2023 March 31, 2023 Financial Statement Classification
    GAAP Net Loss $(4,510) $(57,384) $(3,484)  
    Interest expense  757   755   1,122  Interest expense
    Income tax expense (benefit)  132   25,479   (2,110) Income tax (expense) benefit
    Depreciation expense  65   132   200  Selling, general and administrative expenses
    Amortization of intangible assets  5,631   4,775   6,284  Amortization of intangible assets
    EBITDA (Non-GAAP) $2,075   (26,243) $2,012   
    Adjustments:        
    Stock-based compensation  1,207   2,642   2,446  Selling, general and administrative expenses
    Change in fair value of contingent consideration (1)  —   (17,414)  9,167  Change in fair value of contingent consideration
    Debt-related expenses (2)  —   —   9,918  Debt-related expenses
    Transaction-related expenses (3)  —   361   2,355  Selling, general and administrative expenses
    Loss on impairment of intangible assets (4)  —   40,808   —  Loss on impairment of intangible assets
    Restructuring costs(5)  720   2,442   —  Restructuring charges
    Other (6)  3,377   1,855   (295) Multiple
    Adjusted EBITDA (Non-GAAP) $7,379  $4,451  $25,603   



    (1) The fair value of the contingent consideration is remeasured each reporting period, with changes in the fair value resulting from changes in the underlying inputs being recognized as a benefit or expense in operating expenses until the contingent consideration arrangement is settled.
       
    (2) Debt-related expenses in the three months ended March 31, 2023 consist of an induced conversion expense of approximately $8.8 million and direct transaction costs of approximately $1.1 million incurred as a result of the privately negotiated exchange of $30.0 million principal amount of the Company's 6.5% Convertible Senior Notes due 2027.
       
    (3) Represents transaction-related expenses associated with the acquisition of Spectrum, which closed effective July 31, 2023.
       
    (4) Represents the loss recognized in the period for the impairment of intangible assets.
       
    (5) Restructuring costs represent non-recurring costs associated with the Company's announced restructuring plans.
       
    (6) Other for the three months ended March 31, 2024, December 31, 2023 and March 31, 2023 represents the following adjustments (in thousands):
       



      Three Months Ended  
      March 31, 2024 December 31, 2023 March 31, 2023 Financial Statement Classification
    Amortization of inventory step-up $4,088  $3,001  $164  Cost of sales
    Interest income on cash equivalents  (711)  (690)  (459) Other gain (loss)
    Derivative fair value adjustment  —   (456)  —  Other gain (loss)
    Total Other $3,377  $1,855  $(295)  
     



    RECONCILIATION OF GAAP NET LOSS and NET LOSS PER SHARE TO
    NON-GAAP ADJUSTED EARNINGS and ADJUSTED EARNINGS PER SHARE (1)
    (in thousands, except per share amounts)
    (unaudited)
     
     Three Months Ended
     March 31, 2024 December 31, 2023 March 31, 2023
     Amount Diluted EPS (2) Amount Diluted EPS (2) Amount Diluted EPS (2)
    Net loss (GAAP)(2)$(4,510) $(0.05) $(57,384) $(0.61) $(3,484) $(0.07)
    Add: Convertible debt interest expense and other income statement impacts, net of tax(2) —     566     842   
    Adjustments:           
    Amortization of intangible assets$5,631     4,775    $6,284   
    Stock-based compensation 1,207     2,642     2,446   
    Debt-related expenses, net —     —     9,639   
    Change in fair value of contingent consideration —     (17,414)    9,167   
    Contingent consideration cash payable (3) —     (2,170)    (2,069)  
    Transaction-related expenses —     361     2,355   
    Loss on impairment of intangible assets —     40,808     —   
    Restructuring costs 720     2,442     —   
    Other 3,377     1,855     (295)  
    Increase in deferred tax asset valuation allowance (4) —     33,165     —   
    Income tax benefit expense, as adjusted (5) (2,734)    1,877     (4,472)  
    Adjusted earnings (Non-GAAP)$3,691  $0.04  $11,523  $0.11  $20,413  $0.29 
                
    Diluted shares used in calculation (GAAP)(2) 94,980     94,669     51,005   
    Add: Dilutive effect of stock-based awards and equivalents(2) 271     325     4,436   
    Add: Dilutive effect of 2027 Convertible Notes(2) —     9,768     14,489   
    Diluted shares used in calculation (Non-GAAP)(2) 95,251     104,762     69,930   



    (1) Certain adjustments included here are the same as those reflected in the Company's reconciliation of GAAP net loss to non-GAAP adjusted EBITDA and therefore should be read in conjunction with that reconciliation and respective footnotes.
       
    (2) The Company uses the if-converted method with respect to its convertible debt to compute GAAP and Non-GAAP diluted earnings per share when the effect is dilutive. Under the if-converted method, the Company assumes the 2027 Convertible Notes were converted at the beginning of each period presented and outstanding. As a result, interest expense, net of tax, and any other income statement impact associated with the 2027 Convertible Notes, net of tax, is added back to net income used in the diluted earnings per share calculation.
       
      For the three months ended March 31, 2024, the Company's potentially dilutive convertible debt under the if-converted method and stock-based awards under the treasury-stock method were not included in the computation of GAAP net loss diluted net loss per share, and the potentially dilutive convertible debt under the if-converted method were not included in non-GAAP adjusted earnings and adjusted earnings per share, because to do so would be anti-dilutive. However, the potentially dilutive stock-based awards under the treasury-stock method were included in the computation of non-GAAP adjusted earnings and adjusted earnings per share because the effect was dilutive.
       
      For both the three months ended December 31, 2023 and the three months ended March 31, 2023, the Company's potentially dilutive convertible debt under the if-converted method and potentially dilutive stock-based awards under the treasury-stock method were not included in the computation of GAAP diluted net loss per share, because to do so would be anti-dilutive. However, the Company's potentially dilutive convertible debt under the if-converted method and the potentially dilutive stock-based awards under the treasury-stock method were included in the computation of non-GAAP adjusted earnings and adjusted earnings per share because their effect was dilutive.
       
    (3) Represents the accrued cash payable, if any, of the INDOCIN contingent consideration for the respective period based on 20% royalty for annual INDOCIN net sales over $20.0 million.
       
    (4) For the three months ended December 31, 2023, represents the amount of income tax expense related to the recognition of a full valuation allowance against deferred tax assets.
       
    (5) Represents the Company's income tax expense adjustment from the tax effect of pre-tax adjustments excluded from adjusted earnings. The tax effect of pre-tax adjustments excluded from adjusted earnings is computed at the blended federal and state statutory rate of 25%.




    1 See "Non-GAAP Financial Measures" below for information about reconciling our Adjusted EBITDA guidance to Net Loss.

    2 Non-GAAP measures are reconciled to the corresponding GAAP measures in the schedules attached.

    3 Gross margin represents the ratio of net product sales less cost of sales to net product sales.

    4 See "Non-GAAP Financial Measures" below for information about reconciling our Adjusted EBITDA guidance to Net Loss.



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      Fourth Quarter Net Product Sales $29.6 Million, Cash Flow from Operations of $11.5 Million Full Year Net Product Sales $120.8 Million, Rolvedon Sales Exceed $60.0 Million Full Year Cash Flow from Operations of $26.4 Million, Cash and Investments Increases to $100.1 Million LAKE FOREST, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today reported financial results for the fourth quarter and full year ended December 31, 2024. Said Brendan O'Grady, Chief Executive Officer, "In line with our strategy for Assertio's long-term growth, 2024 was a year of stabilization as we transitioned to Rolvedon as our primary a

      3/12/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Large Ownership Changes

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    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/14/24 3:52:50 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/12/24 1:34:28 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Assertio Holdings Inc.

      SC 13G/A - Assertio Holdings, Inc. (0001808665) (Subject)

      11/4/24 11:29:13 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
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    • Assertio Holdings, Inc. to Report First Quarter 2025 Financial Results on May 12, 2025

      LAKE FOREST, Ill., May 05, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that it will release first quarter 2025 financial results on Monday, May 12, 2025, after the market close. Additionally, Assertio's management will host a live webcast conference call at 4:30 p.m. Eastern Time to discuss the financial results and update the Company's 2025 strategic plans. To access the live webcast, conference call information, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 10 minutes prior to the live webcast to ensure adequate tim

      5/5/25 8:15:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Reports Fourth Quarter and Full Year 2024 Financial Results

      Fourth Quarter Net Product Sales $29.6 Million, Cash Flow from Operations of $11.5 Million Full Year Net Product Sales $120.8 Million, Rolvedon Sales Exceed $60.0 Million Full Year Cash Flow from Operations of $26.4 Million, Cash and Investments Increases to $100.1 Million LAKE FOREST, Ill., March 12, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today reported financial results for the fourth quarter and full year ended December 31, 2024. Said Brendan O'Grady, Chief Executive Officer, "In line with our strategy for Assertio's long-term growth, 2024 was a year of stabilization as we transitioned to Rolvedon as our primary a

      3/12/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Holdings, Inc. to Report Fourth Quarter and Full Year 2024 Financial Results on March 12, 2025

      LAKE FOREST, Ill., March 05, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT) today announced that it will release fourth quarter and full year 2024 financial results on Wednesday, March 12, 2025, after the market close. Following the release of its financial results, Assertio's management will host a live webcast of the earnings conference call at 4:30 p.m. Eastern Time. To access the live webcast, conference call information, and other materials, please visit Assertio's investor relations website at http://investor.assertiotx.com/overview/default.aspx. Please connect at least 10 minutes prior to the live webcast to ensure adequate time for a

      3/5/25 4:05:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
    Insider Trading

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    • SVP, General Counsel Schlessinger Sam converted options into 17,150 shares and covered exercise/tax liability with 7,656 shares, increasing direct ownership by 7% to 153,889 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:03:18 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Officer Schwichtenberg Paul converted options into 17,150 shares and covered exercise/tax liability with 8,505 shares, increasing direct ownership by 6% to 146,345 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:02:00 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SVP and CFO Patel Ajay converted options into 17,150 shares and covered exercise/tax liability with 8,505 shares, increasing direct ownership by 5% to 175,675 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      2/25/25 6:00:12 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

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    • SEC Form DEF 14A filed by Assertio Holdings Inc.

      DEF 14A - Assertio Holdings, Inc. (0001808665) (Filer)

      4/8/25 4:40:37 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
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    • SEC Form PRE 14A filed by Assertio Holdings Inc.

      PRE 14A - Assertio Holdings, Inc. (0001808665) (Filer)

      3/25/25 5:24:21 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • SEC Form 10-K filed by Assertio Holdings Inc.

      10-K - Assertio Holdings, Inc. (0001808665) (Filer)

      3/12/25 5:14:59 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
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    • Maxim Group initiated coverage on Assertio Therapeutics with a new price target

      Maxim Group initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $3.00

      7/26/24 7:49:44 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • H.C. Wainwright initiated coverage on Assertio Therapeutics with a new price target

      H.C. Wainwright initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $4.00

      7/3/24 7:25:55 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Lake Street initiated coverage on Assertio Therapeutics with a new price target

      Lake Street initiated coverage of Assertio Therapeutics with a rating of Buy and set a new price target of $7.00

      11/7/22 9:24:08 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

    $ASRT
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    • Director Mason Heather L bought $60,000 worth of shares (75,000 units at $0.80), increasing direct ownership by 35% to 287,650 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      11/19/24 9:02:18 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • CEO O'Grady Brendan P. bought $9,950 worth of shares (11,706 units at $0.85) (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      11/15/24 2:43:25 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Director Vacirca Jeff L bought $11,100 worth of shares (10,000 units at $1.11), increasing direct ownership by 7% to 151,159 units (SEC Form 4)

      4 - Assertio Holdings, Inc. (0001808665) (Issuer)

      6/12/24 6:00:09 PM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care

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    • Assertio Holdings, Inc. Appoints Mark Reisenauer to Its Board of Directors

      LAKE FOREST, Ill., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced today that Mark Reisenauer has been appointed as an independent director to the Company's Board of Directors. Mr. Reisenauer will serve as a member of the Compensation Committee. "Mark is a highly accomplished commercial leader in complex, competitive therapeutic areas who also brings extensive oncology and hematology product experience to our board," said Heather Mason, Chair of Assertio. "His successful new product and indication launches have b

      12/17/24 8:30:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Assertio Holdings, Inc. Appoints Paul Schwichtenberg to New CTO Role, Mary Pietryga as CCO

      LAKE FOREST, Ill., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ:ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced today the creation of a new Transformation Office and the appointment of Paul Schwichtenberg as Chief Transformation Officer (CTO). Mr. Schwichtenberg currently serves as the company's Chief Commercial Officer and was previously CFO. "As CTO, Paul will be future looking, working closely with me, to identify synergies, innovative strategies, and new revenue streams to best position the company for future growth," said Brendan O'Grady, Chief Executi

      12/12/24 8:00:00 AM ET
      $ASRT
      Biotechnology: Pharmaceutical Preparations
      Health Care
    • Beam Therapeutics Announces Appointment of Sravan Emany as Chief Financial Officer

      CAMBRIDGE, Mass., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced the appointment of Sravan K. Emany as chief financial officer (CFO), effective December 19, 2024. Mr. Emany brings to Beam a breadth of global operational, commercial and financial experience with multinational public corporations and financial institutions. He most recently served as CFO and chief operating officer at Ironwood Pharmaceuticals, Inc. "Beam has built a strong financial position to advance our portfolio of genetic medicines, and Sravan has an exceptional background to lead our capital fo

      12/6/24 7:00:00 AM ET
      $ASRT
      $BEAM
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)