Welcome to our dedicated page for Assertio Holdings news (Ticker: ASRT), a resource for investors and traders seeking the latest updates and insights on Assertio Holdings stock.
Assertio Holdings, Inc. (NASDAQ: ASRT) is a specialty pharmaceutical company headquartered in Lake Forest, Illinois. The company is dedicated to advancing patient care through the commercialization of differentiated products in the areas of neurology, orphan, and specialty medicines. Assertio's portfolio includes three FDA-approved products:
- Gralise: Extended-release tablets for the management of postherpetic neuralgia.
- CAMBIA: A solution for the acute treatment of migraine attacks with or without aura in adults.
- Zipsor: Liquid-filled capsules for the relief of mild to moderate pain.
In August 2023, Assertio completed the acquisition of Spectrum Pharmaceuticals, Inc., bringing the innovative ROLVEDON™ to its portfolio. This addition is poised to diversify Assertio’s revenue base and enhance its commercial capabilities. Despite some challenges, including competition from generic drugs, Assertio remains committed to leveraging its digital non-personal sales model to drive growth and efficiency.
Financially, Assertio reported substantial cash flow from operations and maintained a robust cash position. The company continues to explore strategic acquisitions and licensing opportunities to expand its portfolio and drive long-term growth. Recent leadership changes and the appointment of experienced executives underscore Assertio’s commitment to optimizing its commercial strategies and maintaining financial stability.
Assertio’s forward-looking strategy involves not only enhancing its current product offerings but also advocating for patient access to medications through legislative efforts. The company’s non-personal promotional model and strategic acquisitions ensure its adaptability in a competitive market. For more detailed financial data and corporate updates, visit Assertio's investor relations website.
Assertio Holdings (Nasdaq: ASRT) has appointed Mark Reisenauer as an independent director to its Board of Directors, where he will serve on the Compensation Committee. Reisenauer brings over 30 years of experience in the biopharmaceutical industry, particularly in oncology and hematology. His previous role as President of U.S. Commercial at Astellas Pharmaceuticals saw him grow sales to nearly $5 billion while leading Marketing, Sales, Policy and Government Affairs, and Market Access teams.
The appointment aligns with Assertio's strategy to enhance its commercial platform and explore additional labeling, indication, and channel opportunities for existing products while seeking new commercial assets. Reisenauer's experience includes executive positions at Micromet Inc., Abbott Laboratories, Pharmacia , Bristol-Myers Squibb, and Zeneca Pharmaceuticals.
Assertio Holdings (NASDAQ: ASRT) announced results from a clinical trial evaluating Rolvedon® (eflapegrastim-xnst) injection when administered on the same day as chemotherapy for early stage breast cancer patients. The open-label, single-arm study, conducted across 13 US sites, demonstrated that Rolvedon, when given 30 minutes post-chemotherapy, achieved 1.8 days to neutrophil count recovery with a 2% febrile neutropenia rate. Notably, no patients required hospitalization for febrile neutropenia, and no new safety concerns were identified. The results were presented at the San Antonio Breast Cancer Symposium.
Assertio Holdings (NASDAQ: ASRT) announced key leadership changes with the creation of a new Transformation Office. Paul Schwichtenberg, current Chief Commercial Officer and former CFO, has been appointed as Chief Transformation Officer (CTO). In his previous roles, Schwichtenberg implemented efficiency measures, pricing strategies, and debt refinancing that improved profitability and strengthened the company's balance sheet.
Mary Pietryga will assume the role of Chief Commercial Officer effective December 16, 2024. Pietryga joins from Teva Pharmaceuticals, where she served as VP and Head of Global Biosimilar Portfolio. Her experience includes leadership positions at Peregrine Market Access, Pacira Biosciences, and other major pharmaceutical companies.
The Buxton Helmsley Group (BHG), which recently converted its position in Assertio Holdings (NASDAQ: ASRT) to a short interest, has called for a Senate Committee investigation into alleged clinical data fraud at Spectrum Pharmaceuticals, now owned by Assertio. This request follows the resignation of Assertio's Chairman and oncologist board member, announced shortly after BHG's release of a 20-page exposé. The report cites former executives-turned-whistleblowers who claim to possess evidence of clinical data tampering related to the cancer treatment Rolvedon. BHG criticizes Assertio's CEO Brendan O'Grady's dismissal of the allegations and the company's failure to engage with whistleblowers or review their evidence.
Assertio Holdings (NASDAQ: ASRT) reported Q3 2024 financial results with total net product sales of $28.7 million, including $15.0 million from Rolvedon. The company posted a net loss of $2.9 million, or $(0.03) per share. Rolvedon sales remained stable quarter-over-quarter, while Indocin sales decreased to $5.7 million due to generic competition. The company maintained a strong balance sheet with $88.6 million in cash and short-term investments. Gross margin improved to 74% from 71% in Q2, and Adjusted EBITDA increased to $5.3 million from $5.0 million in the previous quarter.
The Buxton Helmsley Group (BHG), which holds a short position in Assertio Holdings (NASDAQ: ASRT), has released evidence supporting allegations of product-related fraud at Spectrum Pharmaceuticals, now owned by Assertio. The evidence includes a memo showing requests to delete adverse event data and audit reports revealing major discrepancies in clinical trial data. BHG has filed a whistleblower complaint with the SEC and calls on Assertio's board to release their full investigation report and documentation of communication with whistleblowers. BHG claims Assertio's recent denial fails to address specific allegations, including alleged 'hush money' offers to whistleblowers.
Assertio Holdings (NASDAQ: ASRT) has issued a response to allegations made by short-seller Alex Parker of Buxton Hemsley Group. CEO Brendan O'Grady strongly refuted claims about Rolvedon's safety and the company's accounting practices, stating they are false and baseless. The company revealed that Parker, who initially positioned himself as an activist investor, attempted to negotiate payment of his legal fees in exchange for dropping his activist activities. After unsuccessful attempts to extract money and a board position, Parker has now shifted to a short-selling position. Assertio is considering legal and regulatory action in response.
Buxton Helmsley Group (BHG) has announced its transition from a long to a short position in Assertio Holdings (ASRT), citing serious concerns over alleged product-related fraud. The investment fund claims to have uncovered evidence from multiple former Spectrum executives-turned-whistleblowers regarding safety issues with Rolvedon, a product acquired through the Spectrum Pharmaceuticals merger. BHG alleges that Assertio's board has failed to properly investigate these concerns, despite reported inquiries from various federal health agencies. The fund suggests the Spectrum acquisition was rushed due to Assertio's flagship product Indocin facing imminent generic competition, potentially defrauding both Assertio and Spectrum stockholders.
Assertio Holdings (Nasdaq: ASRT) announced it will release its third quarter 2024 financial results on Monday, November 11, 2024, after market close. The company will host a live webcast earnings conference call at 4:30 p.m. Eastern Time. Investors can access the webcast through Assertio's investor relations website, with connection recommended 10 minutes prior to start. For telephone access, participants can dial +1-646-307-1963 with call ID 3278948. A replay will be available approximately two hours after the call on the company's investor website.
Assertio Holdings, a pharmaceutical company listed on Nasdaq as ASRT, has announced its participation in the Maxim Group 2024 Healthcare Virtual Summit. The company's CEO, Brendan O'Grady, will engage in a fireside chat discussion on October 15, 2024, at 1:00 pm Eastern Time.
The discussion will be hosted by Maxim Group research analyst Naz Rahman. Investors interested in listening to the event can register through the provided link. This participation underscores Assertio's commitment to engaging with the investment community and showcasing its comprehensive commercial capabilities in offering differentiated pharmaceutical products to patients.
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