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. (ASRT) announced a preliminary settlement agreement regarding three shareholder derivative lawsuits against its subsidiary, Assertio Therapeutics, approved by the California Superior Court. The lawsuits, alleging breaches of fiduciary duties among other claims, will lead to corporate governance changes lasting at least two years. Assertio will also pay $150,000 in legal fees, subject to court approval. A settlement hearing is scheduled for December 14, 2021, to finalize the agreement and address any objections from current stockholders.
Assertio, a pharmaceutical company, reported Q3 2021 financial results, achieving net product sales of $25.997 million and a net income of $3.737 million. This marks a significant improvement from a net loss of $10.522 million in Q3 2020. The company raised its full-year net product sales guidance to over $103 million and adjusted EBITDA guidance to exceed $43 million. Sequentially, Assertio generated $4.7 million in operating cash flows, its highest since Q4 2019, while settling legal uncertainties, including a $7 million antitrust litigation settlement.
Assertio Holdings, Inc. (NASDAQ: ASRT) will announce its third quarter 2021 financial results on November 4, 2021, after market close. A conference call is scheduled for 4:30 p.m. Eastern Time on the same day. Stakeholders can join the call using the provided dial-in numbers: 1 (844) 200-6205 for domestic and 1 (929) 526-1599 for international participants. Assertio is known for its differentiated pharmaceutical products in the fields of neurology, hospital, and pain and inflammation.
Assertio Holdings, Inc. (NASDAQ: ASRT) announced investor presentations at several upcoming conferences. CEO Dan Peisert and CFO Paul Schwichtenberg will present at the LD Micro Main Event from October 12-14, 2021, the Stifel 2021 Virtual Healthcare Conference from November 15-17, and the Q4 Investor Summit from November 16-17. Additionally, they will participate in the Sidoti & Company Virtual Microcap Conference on December 8-9. Detailed information and live webcasts will be available on their investor website.
Assertio Holdings, Inc. reported net product sales of $24.8 million for Q2 2021, a significant increase from $20.2 million in Q2 2020. The company also raised its full year guidance for net product sales to $91-$96 million, up from $85-$92 million. Despite a net loss of $14.2 million in Q2, improved execution of cost-saving measures is expected to enhance adjusted EBITDA to between $34-$37 million. The company's transition to a non-personal promotional model has also contributed positively.
In addition, a legal reserve of $11.3 million was established, and the company regained compliance with NASDAQ after a reverse stock split.
Assertio Holdings (NASDAQ: ASRT) plans to release its second quarter 2021 financial results on August 5, 2021, after market close. A conference call hosted by management will follow at 4:30 p.m. Eastern Time. Investors can access the live webcast and replay on the company's investor website. Assertio specializes in pharmaceutical products in neurology, hospital, and pain management. The company has achieved growth through licensing, mergers, and acquisitions.
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.
FAQ
What is the current stock price of Assertio Holdings (ASRT)?
What is the market cap of Assertio Holdings (ASRT)?
What products does Assertio Holdings, Inc. offer?
What is the significance of Assertio’s acquisition of Spectrum Pharmaceuticals?
How does Assertio promote its products?
What are some of Assertio's recent financial highlights?
Who are some of the key leadership figures at Assertio?
What challenges does Assertio face with generic competition?
What is Assertio’s strategy for long-term growth?
How can investors access information about Assertio?
What role does Assertio play in legislative advocacy?
What is Assertio’s approach to sales and marketing?
