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.
Company Overview
Assertio Holdings Inc (ASRT) is a specialized pharmaceutical company committed to advancing patient care through a focused portfolio of FDA-approved products. The company operates primarily in the areas of neurology, orphan treatments, and specialty medicines, targeting conditions that demand innovative approaches to symptom management and quality of life improvements. With robust commercial capabilities, Assertio leverages both traditional sales forces and modern non-personal promotion strategies to effectively reach healthcare providers and payor networks.
Core Business and Product Portfolio
At its core, Assertio not only markets but also strategically acquires and licenses approved products that solve unmet medical needs. Among its prominent offerings are products approved for neurological indications, including therapies designed to manage postherpetic neuralgia, acute migraine treatments, and formulations aimed at moderating mild to moderate pain. These products are carefully developed and maintained in compliance with rigorous FDA standards, which underscores the company’s commitment to safety and efficacy.
Innovative Commercial Strategy
The company has built a diversified and resilient business model by integrating multiple marketing channels. Through a dedicated sales force and a streamlined non-personal promotion model, Assertio ensures that its treatments are accessible to clinicians and patients across various market segments. This dual approach not only enhances market penetration but also supports effective payor contracting and trade distribution, helping the company maintain a competitive edge in a sector marked by stringent regulatory and competitive pressures.
Market Position and Differentiation
Assertio’s competitive positioning is anchored in its strategic acquisition of established products and its innovative push into emerging therapeutic areas such as oncology. With assets like Rolvedon, the company has demonstrated adaptability and growth in targeted clinical segments. This asset, among others, reflects a forward-thinking and entrepreneurial spirit, aiming to expand patient access and improve treatment outcomes while navigating a complex pharmaceutical landscape. The company’s unwavering commitment to quality and patient-centric care is evident in its rigorous clinical standards and attention to regulatory compliance.
Operational Excellence and Commercial Capabilities
- Extensive Marketing Infrastructure: A combination of traditional and digital promotion channels tailored to maximize product outreach.
- Robust Distribution Network: Strategic partnerships and agreements with key payors facilitate wide and efficient market access.
- Acquisition and Licensing Strategy: A focused portfolio built through thoughtful acquisitions and licensing of clinically validated products.
Expertise and Industry Insight
Assertio exemplifies deep industry expertise by aligning its operational strategies with current trends in pharmaceutical development and market dynamics. The company uses a data-driven approach to decision-making, ensuring that its commercial strategies, regulatory compliance, and product development efforts are both effective and forward compatible. This level of meticulous operational management builds confidence among stakeholders and positions Assertio as a key player in the specialty pharmaceutical space.
Conclusion
In summary, Assertio Holdings Inc stands out as a commercial pharmaceutical company that harmonizes innovation with proven business models. Its commitment to developing and distributing differentiated, FDA-approved treatments illustrates a balanced approach to addressing both current patient needs and market challenges. The company’s integrated commercial infrastructure and focus on quality make it an informative subject for investors seeking deep insights into a specialized segment of the pharmaceutical industry.
Assertio Holdings, Inc. (ASRT) announced it has regained compliance with the Nasdaq's minimum bid price requirement, signaling a positive development for the company. The notification letter from Nasdaq confirms that the compliance issue is now resolved. Assertio continues to focus on its portfolio of branded prescription products in neurology, hospital, and pain management areas, driven by strategic growth through licensing and acquisitions.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced a one-to-four reverse stock split effective May 18, 2021. This means that every four shares will convert into one share, without altering the par value per share. Adjustments will also be made to stock options, warrants, and equity compensation plans. Fractional shares will be compensated based on the stock's closing price on May 17, 2021. The company will continue trading under the symbol ASRT.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced a partial adjournment of its 2021 Annual Meeting on May 11, 2021, primarily to gather additional votes for Proposals 2 and 3. Proposal 2, concerning a Reverse Split and Proportional Authorized Shares Reduction, has over 80% support from votes cast but requires approval from more than 50% of all outstanding shares. Proposal 3 also shows strong preliminary support of over 76%. Leading advisory firms recommend both proposals, aiming at compliance with Nasdaq listing requirements. The reconvened meeting is set for June 9, 2021.
Assertio Holdings, Inc. (ASRT) reported a net product sales of $26.4 million for Q1 2021, a decrease from $28.3 million pro forma sales in Q1 2020. The company's net income fell to $4.5 million from $41.2 million year-over-year. However, Adjusted EBITDA surged to $15.7 million compared to $3.9 million in the previous year. Assertio anticipates full-year 2021 net sales between $85.0 million and $92.0 million. The company has raised $45.3 million in cash to enhance liquidity and implemented a restructuring plan aiming for $45 million in annualized cost savings.
Assertio Holdings and Cove have partnered to enhance patient access to CAMBIA (diclofenac potassium) and SPRIX (ketorolac tromethamine) through Cove’s telemedicine platform. This collaboration aims to facilitate consultations with licensed physicians who can prescribe these medications for migraine treatment and pain management. The initiative aligns with Assertio's strategy for digital engagement and direct-to-patient care models, potentially expanding their reach in the market and improving patient convenience.
Assertio Holdings, Inc. (NASDAQ: ASRT) will announce its first quarter 2021 financial results on May 6, 2021, after market close. Management will host a conference call at 4:30 p.m. ET to discuss these results. Investors can access the live webcast at Assertio's investor relations website. Assertio is recognized for its differentiated pharmaceutical products in neurology, hospital, and pain management, having experienced growth through licensing and acquisitions.
Assertio Holdings reported full-year 2020 net product sales of $93.5 million and pro forma revenue of $119.2 million, aligning with guidance. The company raised $45.3 million in cash through direct offerings, enhancing liquidity. Assertio achieved $40 million in annual cost savings and expects an additional $45 million post-restructuring. Significant debt repayment included $450.2 million in 2020. However, the company faces challenges due to COVID-19's impact on elective procedures and a decline in prescription volumes.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced that Dan Peisert, its President and CEO, will present at the 33rd Annual Roth Conference on March 15, 2021. The virtual presentation is scheduled for 5:00 pm ET and will be available via live audio webcast on the company's investor website. A replay will also be accessible post-event. Assertio specializes in bringing differentiated pharmaceutical products to market, focusing on neurology, hospital, and pain management.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced that it will release its fourth quarter and full year 2020 financial results on March 11, 2021, after market close. A conference call with management is scheduled for 4:30 p.m. Eastern Time on the same day. Assertio is noted for its differentiated pharmaceutical products in neurology, hospital, and pain and inflammation segments. Investors can access the live webcast and replay via the company’s investor website.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced the closure of a registered direct offering, raising approximately $34.3 million at $0.98 per share.
After fees, the net proceeds are about $32.1 million, meant for general corporate purposes and working capital.
The offering was made under an effective shelf registration statement and involved Roth Capital Partners as the placement agent.
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