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, Inc. (NASDAQ: ASRT), a pharmaceutical company, has announced the granting of inducement awards to two newly-hired employees. The Compensation Committee of the Company's Board of Directors approved the grants on October 1, 2024, consisting of:
- 16,325 restricted stock units (RSUs)
- 24,670 stock options
These awards were granted in accordance with NASDAQ Listing Rule 5635(c)(4) as material inducements for employment. The options have an exercise price of $1.15 per share, equal to the closing price of Assertio's common stock on the grant date. Both RSUs and options will vest equally over three years, beginning on the first anniversary of the grant date, subject to continued service with the company.
Assertio Holdings, Inc. (Nasdaq: ASRT), a pharmaceutical company, has announced its participation in two upcoming investor conferences in New York City. Ajay Patel, the company's Chief Financial Officer, will host investor meetings at both events:
1. The HC Wainwright Conference from September 10-11, 2024, at the Lotte New York Palace Hotel.
2. The Lake Street Capital Markets BIG8 Conference on September 12, 2024, at the Yale Club.
Investors interested in meeting with Assertio can register and request meetings through their respective HC Wainwright or Lake Street representatives. This participation demonstrates Assertio's commitment to engaging with investors and showcasing their comprehensive commercial capabilities in offering differentiated pharmaceutical products to patients.
Assertio Holdings, Inc. (ASRT) reported its Q2 2024 financial results, with total net product sales of $30.7 million. Highlights include:
- Rolvedon sales grew to $15.1 million, up from $14.5 million in Q1
- Cash flow from operations of $7.4 million
- Cash and short-term investments increased to $88.4 million
- Gross margin was 71%, or 73% excluding Rolvedon inventory step-up
- Adjusted EBITDA of $5.0 million, down from $7.4 million in Q1
- Net loss of $3.7 million, or $0.04 per share
Assertio reiterated its 2024 guidance with net product sales of $110-125 million and adjusted EBITDA of $20-30 million. The company continues to focus on driving performance of key assets, generating cash flow, and identifying new opportunities.
Assertio Holdings, Inc. (Nasdaq: ASRT), a pharmaceutical company, has announced it will release its second quarter 2024 financial results on Wednesday, August 7, 2024, after the market close. The company will host a live webcast earnings conference call at 4:30 p.m. Eastern Time following the release.
Investors can access the webcast and related materials through Assertio's investor relations website. For those joining by telephone, the dial-in number is +1-646-307-1963 with call ID 4674653. A webcast replay will be available approximately two hours after the call on the company's investor website.
The Buxton Helmsley Group (BHG), a significant shareholder of Assertio Holdings (NASDAQ: ASRT), has issued a letter to the company's Board of Directors expressing grave concerns about its composition and performance. BHG calls for the immediate resignation of four directors, including Chairman Peter Staple, and criticizes the Board's failure to explain and recover damages from the value-destructive Spectrum Pharmaceuticals acquisition. The letter highlights issues such as the 75% write-down of Spectrum's value within three months of acquisition, inadequate due diligence, and a lack of specific expertise on the Board. BHG threatens a proxy contest and potential derivative litigation if no progress is made, intending to nominate independent, qualified directors at the next shareholder meeting.
Assertio Holdings, a pharmaceutical company listed on NASDAQ under the ticker ASRT, announced on July 9, 2024, the issuance of inducement grants to four new employees. Effective from July 1, 2024, these grants comprise 44,575 restricted stock units (RSUs) and 142,910 stock options. The inducement grants are made in accordance with NASDAQ Listing Rule 5635(c)(4) and are intended to encourage the new hires' entry into the company. The RSUs and options have terms similar to those in Assertio's 2014 Omnibus Incentive Plan. The stock options carry an exercise price of $1.19 per share, the closing price on the grant date, and will vest over three years starting from the first anniversary of the grant date.
Assertio Holdings has awarded its new CEO, Brendan P. O’Grady, 500,000 restricted stock units (RSUs) and 1,800,000 stock options as of May 31, 2024.
The stock options, which have an exercise price of $0.99 per share, and RSUs will vest equally over three years. These grants are in accordance with NASDAQ Listing Rule 5635(c)(4) and are material to Mr. O’Grady’s employment with Assertio.
Assertsio is a pharmaceutical company specializing in differentiated products.
Assertio Holdings, a pharmaceutical company known for its commercial capabilities and unique product offerings, announced its participation in the Sidoti Small Cap Conference on June 12, 2024. The event will be held virtually, with Ajay Patel, the Chief Financial Officer, presenting at 10:45 am Eastern Time. Investors can access the presentation through a webcast available on Assertio's investor relations website. Additionally, 1x1 meetings can be scheduled via Sidoti representatives or by contacting Assertio's investor relations.
On May 29, 2024, Assertio announced the appointment of Brendan P. O’Grady as the new CEO and a board member. O'Grady, with over 30 years in the pharmaceutical industry, has a strong record of accelerating sales growth and profitability. Most recently, he was CEO of Glenmark Pharmaceuticals' Global Formulations business, focusing on new product launches and market growth. His previous roles include key positions at Amwell and Teva Pharmaceuticals, where he drove significant growth and productivity. The Board expressed confidence in O'Grady's leadership to drive Assertio's strategic growth and diversification.
Assertio Holdings announced that CFO Ajay Patel will participate in the Benchmark & Company Healthcare House Call Virtual Conference on May 21-22, 2024. Assertio, listed on Nasdaq under the ticker ASRT, specializes in providing differentiated pharmaceutical products. Investors interested in scheduling a meeting can do so through their Benchmark representative or by contacting Assertio's investor relations.
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