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.
The Buxton Helmsley Group (BHG), an investment fund manager, released a letter from Rumbi B. Petrozzello, a Certified Fraud Examiner, highlighting disclosure failures and deficiencies by the Board of Assertio Holdings (NASDAQ: ASRT). The letter presents significant concerns, urging stockholders to vote against all directors at the upcoming annual meeting on May 23, 2024. Petrozzello's analysis reveals issues like a steep 75% drop in intangible asset value post-Spectrum Pharmaceuticals acquisition, evasive responses from Assertio's management, and insufficient disclosures on contingent liabilities. BHG proposes independent investigation and has nominated Petrozzello to the Board, advocating for new oversight to protect investor interests.
Assertio Holdings (Nasdaq: ASRT), a pharmaceutical company, announced that its Chief Financial Officer, Ajay Patel, will present at the Alliance Global Partners Virtual Healthcare Company Showcase on May 21, 2024, at 3:40 p.m. Eastern Time. The presentation will provide an overview of Assertio's business and will be accessible through AGP's healthcare equity research team. Interested investors can join by contacting their AGP representative or Assertio investor relations. Further details will be available on the day of the event at https://investor.assertiotx.com.
The Buxton Helmsley Group (BHG) urges Assertio stockholders to vote against all director nominees at the upcoming annual meeting on May 23, 2024. BHG criticizes Assertio’s board for failing in oversight, inadequate disclosures, and poor strategic decisions, including a costly acquisition of Spectrum Pharmaceuticals. Analysts have dropped coverage of Assertio, citing a loss of faith in leadership. BHG proposes adding two new directors to bring better oversight and restore value for stockholders. The group also recommends strategic alternatives, including a possible sale to enhance operating profit.
Assertio Holdings, Inc. will present at the Citizens JMP Life Sciences Conference in New York City on May 13, 2024. Ajay Patel, Chief Financial Officer, will lead the presentation at 12:00 pm Eastern Time. Investors can request meetings with the Company through JMP representatives or contact Assertio investor relations. Presentation information will be available on the event day at https://investor.assertiotx.com. To listen to the webcast, connect to the website link 15 minutes before the live webcast.
Assertio Holdings, Inc. reported strong first-quarter financial results, with net product sales of $31.9 million. Rolvedon product sales increased, while Indocin sales decreased due to generic competition. The company's gross margin was 65%, SG&A expenses decreased, and adjusted EBITDA improved. Assertio generated $7.5 million in cash flow, ending the quarter with $80.7 million in cash and cash equivalents. The company reiterated its 2024 financial guidance of $110-125 million in net product sales and $20-30 million in adjusted EBITDA.
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